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Tong Ming Enterprise: Positive Prospect for China's Domestic Demand in Q4 2020
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2020-10-29
According to Tong Ming's spokeswoman, "With strong domestic demand in China and the upward trend of the int'l nickel price, Tong Ming's monthly sales grow 20% over the same period last year and the outlook for Q4 2020 is positive. Prices of Tong Ming's products are proportional to the int'l nickel price and are reflected on its export prices."
Additionally, as China is pushing policies to boost the domestic demand, Tong Ming is also expanding deployment in China by raising the number of its authorized distributors from 5,800 to 6,800. Starting this March, its monthly shipment has been always maintained at about 7,000 tons. Tong Ming sells 70% of its fasteners to the domestic Chinese market and sells the remaining 30% of fasteners and niche products to the world. According to Tong Ming's spokeswoman, "The upgrade of Tong Ming's production lines will continue in order to correspond with the market demand. The company's expenditure this year is at about NTD 100 million, which is also expected to be around the same figure for next year. Tong Ming will continue to increase its competitiveness and stocking capacity."
Tong Ming Enterprise
sales growth
strong domestic demand
東明，銷售成長，內需強勁
