News 

Gem-Year Corporation (601002.SH) is the head of China fastener industry. Its company and facotry is adjacent to Shanghai with a privet dock and an automized 3D inventory stockpiling 100 thousand tons of products. It has over a thousand imported automated production device and inspection device of all sorts, which annually produce over 200 thousand tons of all kinds of high quality bolts, nuts, screws and sophisticated wires and non-standard special fasteners. It becomes a listed company in the Shanghai Stock Exchange in January, 2007.

As the headquarter of Gem-Year Group, Gem-Year Industrial Co., Ltd. continuously expands its capabilities to serve its customers more effectively by establishing new plants such as Jinn-Well Auto-parts Co., Ltd., Gem-Kai International Trading Co., Ltd., Guangzhou Gem-Year Auto-parts Co., Ltd., Gem-Duo Co., Ltd., which all have Taiwan-capital background with top-noch fastener production and trading experience. Gem-Year's brand fasteners takes up 25% of market shares in Mailand China, only second to Germany Vossloh's 30%.

It is also the first corporation to invest in high-speed rail fasteners (encompassing bolts, nuts, screws, etc.) and is the only corporation capable of manufacturing all series of high-speed rail fasteners as well as supplying fasteners for high-speed train running at 250 and 350km/hr. Its fasteners become the main porducts on the market and its revenue takes up over 50%.

Its common fasteners mainly apply to general machinery and furniture industry where market competition is harsher and gross profit margin lower. In aspect of new product plans, it is planning to develop fasteners for high-tech markets such as wind farms and aerospace industry. Another chief product, automobile fasteners (around 10% P/S ratio) has set up cooperation with brand companies such as Chery Automobile, BYD Company and Geely Automobile and a few foreign institutional investors. As to sales, it is making arrangements to set up logistics centers in Mainland China. The Quanzhou center, Shenyang center and headquarter are currently under construction, and places such as Cheung Sha center are on the next construction schedule.

On October 31th, 2011, it received notification of successful bid on high-speed rail fasteners for coastal railroad expansion and reform project by Nanning Railway Bureau.

On the second half of May, 2012, it signed an agreement on building automated 3D inventory system with Jinzheng Automized Engineering (in  Chekiang).

On the first half of April,2012, Jinzheng subscribed to Gem-Year's non-public offering (as a strategic investment plan) and gained recognition from the Ministry of Commerce. The subscription ratio is not lower than 30% of the amount of Gem-Year's non-public offering.