| Our Future Plans For our next phase of growth, we plan to:-
Expand our manufacturing capacity and capabilities To meet the growing demand arising from the lifting of the quota for garment exports pursuant to the PRC’s entry into the WTO, we intend to acquire additional machinery to improve our production capacity and capabilities. Develop a silkworm cocoon agri-produce facility Our raw materials for spun silk comprise mainly silkworm cocoons which are supplied by external sources. We intend to secure our supply line by developing a silkworm cocoon agri-produce facility in the PRC so as to achieve cost savings and control over the supply and quality of our raw materials. Enhance our product development We place strong emphasis on the development of new products. Our research and development department currently designs approximately 200 new spun silk yarn and fabric products annually based on market trends and these products have been well received by our customers. We will continue to focus on product development to increase the range and quality of our products, which will give us a competitive edge over our competitors. Increase our market penetration and promotion activities We intend to increase our market penetration and secure new customers by leveraging on our existing customer base and enhancing our current sales network. We also plan to collaborate directly with international apparel companies to provide our "one-stop high value-added manufacturing services" to them. We intend to expand our sales force particularly in Hangzhou, where many garment manufacturers are situated in, as well as in Shanghai, so as to leverage on its advantages as a leading commercial hub and increase awareness of our products. We also plan to participate in more trade fairs and exhibitions in order to promote and market our products, expand our customer base and exploit the latest market trends. |
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