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» China-Business-Articles » Reading: "SinoHub Receives RMB 15 Million Bank Line from China Construction Bank"
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| SinoHub Receives RMB 15 Million Bank Line from China Construction Bank |
By:
www.sinohub.com. |
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SHENZHEN, PR CHINA (ContentDesk) May 19, 2006 -- SinoHub Technology Company, Ltd. today announced that it has successfully closed a RMB 15 Million credit facility with the Shenzhen Branch of the China Construction Bank. The company will use the funds to accelerate its growth of its procurement fulfillment business. Already a leading company in the rapidly growing field of electronic component supply chain management services in China (import, buffer inventory, fulfillment, just-in-time delivery, export, software solutions and other services), SinoHub will use these funds to propel itself into a dominant position in this field.Latest reports show the volume of electronic components being imported into PR China has crossed the US$ 4 billion per month mark and that the development of new fabrication facilities for electronic components inside China in proceeding very rapidly. To support this growth, specialized supply chain management services (SCM) companies are starting to take over the home grown import logistics services of suppliers which have been at best a distraction and at worst an inefficient waste of money.
At the same time, SCM companies are helping OEMs/EMS providers reduce inventories and outsource non-core operations by providing just-in-time delivery and fulfillment services. I believe that SinoHubs unique service offerings and software technology will rapidly become synonymous with high quality electronic component supply chain management services in PR China, said Ms. Li Fei Yang, Loan Department Manager of China Construction Banks Shenzhen Branch. I am also excited about SinoHubs prospects to expand their service offerings through internal growth and through joint ventures in such areas as Vendor Managed Inventory (VMI). This commitment from China Construction Bank is a testament to the uniqueness of our service offerings, our technology and to the exciting prospects for our company, said Harry Cochran, CEO of SinoHub. We are the first company to fully apply the principles of world-class international supply chain management solutions in the electronic component area to Mainland China. SinoHub Service and Software Solution OfferingsThe Integrated Supply Chain service suite provided by Sinohub, SinoHub Electronics Harbor(tm), is tailored to the electronic components business requirements in China. It helps electronic component industry participants reduce inventory costs, shorten purchasing lead-time and solve RMB purchasing and VAT invoicing problems.
Our software solutions for electronic component warehouse management and order tracking are ideal for all participants in Chinas burgeoning electronics industry, filling the gap between the well developed ERP systems of electronic component Suppliers and OEMs/EMS providers. We are delighted to have such strong backing from China Construction Bank , said Willa Li, SinoHubs CFO. Ours is a business of detail that depends on doing things right and continuously improving to meet the needs of our customers. Supplying the funding to keep this process in high gear is my highest priority. New Customer Opportunities With this new credit facility, SinoHub can now take advantage of the robust platform we have built over the past 5 years to offer a true one-stop-shop SCM service experience for every size customer, commented Lei Xia, President. We will rapidly become the dominant player in electronic component supply chain management services based on our exclusive focus on electronic components, our SCM software solutions and our coverage in China. SinoHub is poised to grow like a bamboo shoot in the spring. About SinoHub, Inc.SinoHub Technology Company, Ltd.
was organized in Shenzhen in September 2000 by veteran entrepreneur Harry Cochran and electronic component industry veteran Lei Xia to facilitate the electronics revolution in China by providing world-class services and software solutions for all participants in the supply chain of electronic components. For more information, please visit our Web site at http://www.sinohub.com |
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