Tianchi Technology (3171) Renamed Xinzhou Global, Incorporates Packaging Business to Achieve Profitability
2012-07-02
[Taiwan Financial News / Reporter: Wu Cailian] YC Group’s packaging giant Tianchi Technology (3171) has been renamed Xinzhou Global Co., Ltd. (Xinzhou Global). Tianchi Technology is currently operating at a loss. Since the beginning of the year, it has been undergoing organizational restructuring and business model transformation. YC Group President Li Zhixian stated that with the addition of the Baodashi packaging chain business, Xinzhou Global aims to achieve break-even by aggressively expanding locations on both sides of the Taiwan Strait.
In May this year, Xinzhou Global opened a new Baodashi store in Hsinchu’s Bade district. In July, another store is planned to open in Shanghai’s Qingpu district. Currently, there are 10 Baodashi stores in Taiwan and 19 in mainland China (including the Qingpu location), totaling 29 stores. Baodashi’s monthly revenue growth rate has consistently exceeded 10%. The company aims to expand to 55 stores by the end of this year, with a long-term goal of reaching a total of 350 stores across the Taiwan Strait by 2015.
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2012-07-02