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Chinese leading stainless steel fastener supplier Tong Ming reported higher revenue in the first half of 2015, though with lower profit owing to the dropped nickel price. The Company continues to seek stable operation this year and is now active in promoting its own e-commerce platform for cost reduction.

 

In an investor conference given on Aug. 28th, Spokeswoman of Tong Ming Ms. Ko said that the sales in China this year have shown significant fluctuations. However, the Company has adjusted upward the percentage of its overseas sales to disperse the risk in operation. In domestic China it is also quite active in promoting e-commerce and aims at the market in Eastern China. In the 2nd half of 2015, the Company will also expand its business down to the market in Southern China for reducing the cost and boosting the operating efficacy.

 

The current main sales of Tong Ming is basically in domestic China. In order to react to the big change of Chinese market, Tong Ming will increase the percentage of sales to the U.S., S. America, and Australia. It also reduces the supplies of products with low profitability and increases the supplies of niche products in order to maintain the average price level and stable inventory supply as in the 1st half of the year. Tong Ming is very active in promoting the e-commerce platform in China, which has been activated in the market in Eastern China. So far, 60% of customers in Eastern China have started to use the online order system and this e-commerce project is also planned to be implemented in Southern China, and will be further promoted across the entire China.

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