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Peak responds to cost pressures with innovation
Xu Zhida, the Chief Operating Officer of Peak Sporting Goods Co., Ltd., shared his insights with reporters during an interview, expressing strong support for the innovation-driven policies introduced by the Quanzhou municipal government. He emphasized that these initiatives will significantly accelerate the development of innovative enterprises and guide large companies toward a path of sustainable, technology-driven growth. "These policies are not just supportive—they’re transformative," Xu said. "They provide a clear direction for companies to embrace innovation as a core strategy."
Xu Zhida firmly believes that innovation is the lifeblood of any enterprise. "In today’s highly competitive market, businesses must continuously innovate to survive and thrive," he explained. Since 2005, when the company first set its sights on building an international brand, Peak has consistently focused on innovation. Every new product launched reflects this commitment. In recent years, the company has made substantial investments in research and development, establishing R&D centers in Guangzhou and Beijing, and even setting up offices in Los Angeles. These moves signal that Peak is entering a new phase of technological advancement and product innovation.
To address rising raw material costs in 2010, Xu introduced a **order system**, which allowed the company to lock in costs for a quarter, aligning with its broader innovation strategy. "This approach helped us manage price fluctuations more effectively," he noted. Additionally, in terms of financial management, Peak has formed strategic partnerships with several banks, implementing **settlement methods** and “locked-in exchange rate†mechanisms to safeguard the value of their currency. These measures have provided the company with a more stable financial foundation, enhancing its ability to control costs and remain competitive in a volatile market.
Through continuous innovation and smart financial strategies, Peak is not only adapting to challenges but also positioning itself as a leader in the global sporting goods industry.