Hangzhou based Chinese beverage company Wahaha has published its financial report for the first quarter of 2009 and states that its revenue increased by 37.22% year-on-year to CNY10.3 billion, a record-high increase over the past 22 years.
This performance makes the company's goal of realizing revenues of CNY50 billion and a year-on-year increase of 50% in 2009 accessible.
In 2008, Wahaha invested CNY6 billion in developing and producing new products in addition to adding 90 new production lines. To avoid price wars with similar products, Wahaha launches new products every year and in 2009, it is launching a new juice drink named Hello-C and a new flavored drink to expand its product portfolio.
The company said it will recruit 7,000 new employees this year and these will mainly be production workers, management staff, and sales staff, because the company has developed over 1,000 new distributors. Recently, the company hired 2,000 new employees and 5,000 additional employees are still needed.