 2012-07-03 |
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【Economic Daily News / Reporter Yih-Lang Chou / Taipei】 On July 2, YC Group announced that Tianchi Technology (3171) will be renamed Xinzhou Global starting today. Besides retaining its cloud computing business, the company will now primarily manage YC Group’s logistics services and Baodashi distribution business. The goal is to reach a total of 350 stores across both sides of the Taiwan Strait by 2015.
Tianchi Technology, previously part of the industrial computer sector, provided basic computers and cloud system services. YC Group acquired it in 2011 and began restructuring and redefining its business model at the beginning of this year. Tianchi’s stock closed at NT$14 per share yesterday, unchanged from the previous day.
YC Group President Li Zhixian stated that Tianchi Technology is currently still operating at a loss. After rebranding as Xinzhou Global and launching the Baodashi packaging chain business, the company aims to achieve break-even through aggressive expansion on both sides of the Taiwan Strait.
The group will now include three publicly listed companies: YC, ACHEM, and Xinzhou Global, covering upstream film production, midstream adhesive tape manufacturing, and downstream packaging material sales, forming a vertically integrated packaging group.
With the advantage of a complete supply chain from upstream YC and ACHEM, Xinzhou Global will provide specialized consulting to meet diverse customer needs, offer one-stop purchasing solutions, and build long-term partnerships with local suppliers. They will provide various products and technologies including adhesive tapes, packaging materials, packaging machinery, and plastic film processing.
In May, Xinzhou Global opened a new Baodashi store in Hsinchu’s Bade district and plans to open another branch in Shanghai’s Qingpu district in July. Currently, there are 10 Baodashi stores in Taiwan and 19 in mainland China, totaling 29 stores across both regions.
YC Group stated that due to stable expansion, Baodashi’s revenue is growing at a rate of about 10% per month. The company plans to expand to 55 stores by the end of this year and aims to reach 350 stores by 2015. The long-term goal is to establish a store in each industrial park and every one-hour drive radius, aggressively capturing the wholesale and retail packaging market across the Taiwan Strait. |
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