This profile focuses on the Hangcha Group Co., Ltd, a leading domestic supplier of industrial forklift trucks that was listed on the Shanghai Stock Exchange on 27 December 2016. It is headquartered in Lin’an’s Qingshanhu Science and Technology City, a district of Hangzhou, the capital of Zhejiang Province. The findings in this report have been derived from the company’s public statements, Off-Highway Research’s personal interviews and information provided by the company, and is an update of the last report by Off-Highway Research in November 2018.

Its key products are a complete range of industrial forklift trucks, including electric counterbalanced trucks (class 1), electric warehouse trucks (class 2), electric pallet trucks (class 3) and IC counterbalanced trucks (class 4-5). Hangcha became the second largest domestic supplier in 2000 when it was privatised, and since then has always been a close competitor to Heli. The company has become the joint market leader with Heli over recent years, with similar sales volume and revenue each year.