| HF company is a high-tech enterprise specializing in researching, developing,manufacturing and selling relays. On its way from a small-sized company on the verge of bankruptcy to the most forceful company in relay industry in China HF company has spared no efforts during the past 16 years since its establishment, adhering to the company spirit of "Never rest on laurels, make more progress" as well as the business policy of "Win with fine quality". HF-brand relay becomes an ideal choice of wide-range users due to its reliable quality, advanced technology and competitive performance and price. The year of 2000 saw a sale revenue of more than RMB300 million and that 60% of its products were sold to overseas market. Now facing the more and more fierce competition the company sets a new goal of "Second-round Development", which means trying to become one of the famous relay manufacturers with strongest capability to compete in the world market. This paper aims to analyze and constitute the developing strategy for HP's second-round development through SWOT analysis.The first part introduces the history of HF company, mainly focusing on the basic history of market exploitation, the continuous improvement of quality assurance capability and the increase of sales volume, net assets and gross profits.The second part analyzes the strategic practices of HF company and the exiting problems. This part begins with the analysis of the forming process of the basic competitive strategy of HP's Differentiation-Focus and its components, then makes an in-depth introduction of the primary contents of the Differentiation-Focus Strategy and the main tactics of implementing this strategy. The tactics are: toestablish the business policy as "Win with fine quality" and even make it the essential of the existence of the company; to attach importance to buildup strength and foster core competitiveness with a high-starting-point technical innovation; to cultivate the ability of developing and innovating products with its own intellectual property and to sticks to the human resource tactic of "Take human being as the essential". Based on the in-depth analysis of the strategic practices the exiting problems are brought forward which include that the structure of property rights is unreasonable and the product structure is not able to support the further development of the company. However these problems provide gist for carrying out the study of the future developing strategy.The third part first points out strengths and weaknesses, opportunities and threats of HF company based on the analysis of the effect brought to national relay industry like HF company by China's entering into WTO, the external environment, the detailed situation of this industry and the situation of the internal resources within the company, then advances the three developing strategies of "Upgrading the Company, Speeding Up the Expansion and Trying to Go Public" and also the strategy positioning, finally brings forward the main measures of implementing these strategies as innovation of the mechanism, the management and the technology and the expansion of markets.
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