Phoenix TV released a special coverage regarding Cantonese Corporation Transformation and Industry Rebalancing on March 6, 2012, along with an exclusive interview with Mark Yip, Managing Director of GRGBanking. During the interview, Mark Yip portrayed the history of GRGBanking’s successful innovation-driven transformation and upgrading by implementing its “High Investment for High Output” strategy.
GRGBanking Managing Director Mark Yip Interviewed by Phoenix TV
In the wake of European Debt Crisis, facing soaring international commodities prices and global economic downturn, many export manufacturing companies in Pearl River Delta are in a severe business environment. However, such negative factors are partially offset by Guangdong government’s continuous efforts in industry transformation and upgrading. GRGBanking has been in the spotlight with its steady growth and rapid expansion.
Located in Science City, Guangzhou, GRGBanking is a leading currency recognition and cash processing solutions provider in the global market. GRGBanking has persisted in its “High Investment for High Output” strategy by focusing on independent core technology and brand. “Basically we invest 6-9 per cent of our annual revenue for research and development, and sometimes this figure reaches 10 per cent. Take 2011 as an example, because of our annual revenue of 2 billion, our investment on research and development was over 100 million, which is a reasonable rate for a high-tech.” Mark Yip said, “We define ourselves as an industry leader, therefore we set industry-leader-standards for our R&D investment, human resource management and equipment test.”
Through years of technology innovation, GRGBanking has become one of the three companies that master the core cash recycling technology in the world. Dating back to 2010, GRGBanking won the largest cash recycler contracts outside Asia by high quality recycling ATMs with independent intellectual property rights. The full range of GRGBanking’s ATM products successfully passed the security evaluation and all 2,200 functional tests, and was thus certified by German Banking Industry Committee in December 2011. All these accomplishments establish a solid foundation for the company’s penetration and expansion in the European as well as the global market.
Facing the global economic turbulence, “we are still very optimistic about the future”, Mark Yip said with full confidence. “New Positioning for competitive advantage, new thinking paradigm charting the future” is the theme of development for GRGBanking in 2012. In the upcoming future, GRGBanking will continue to concentrate on building its competitive advantages by operating model innovation, and strengthening ATM core technology research and development. Its focus on high-tech manufacturing and service industry, innovative Internet of Things technology and cloud computing application in ATM industry will bolster up GRGBanking’s march towards high-end supply chain and value chain sector.