|
|
|
|
|
|
| Reduces Labor Costs; Improves Cost-Effectiveness |
HONG KONG, Nov 20, 2017 - (ACN Newswire) - Bortex Global Limited ("Bortex") (the "Group", Stock code: 8118) is a developing manufacturer and exporter of LED lighting products. In view of the increased demand for LED decorative lighting products, the Group will expedite its automation development to reduce labor costs and improve cost-effectiveness.
The Group principally engages in the manufacturing and sale of quality LED lighting products to its customers in North America, Europe and Asia Pacific with a production plant located in Dongguan, Guangdong Province, the PRC. The Group's LED lighting products are broadly classified into two major series, including LED decorative lighting series which are mainly used for festive decorations and LED luminaire lighting series which are mainly used for indoor lighting. The Group's major customers have an extensive coverage in worldwide market ranging from countries in Asia Pacific to North America. While the Group derived over 60% of its total revenue during three years ended 30 April 2017 from export sales to overseas countries, the Group significantly increased the sales in Asia mainly including the PRC and Taiwan for the two years ended 30 April 2017. The Group's well-established worldwide sales network is one of its competitive strengths which enabled the Group to have a broad customer base.
According to Ipsos's industry development analysis report of Christmas lighting and LED indoor lighting manufacturing industry in China for the period from 2010 to 2021, apart from the increasing demand from traditional markets in the US, Europe and Canada, emerging markets in the Middle East, Africa and South America also supported the demand for Christmas lighting products from China, leading to the consistent growth in the total revenue of the Christmas lighting manufacturing industry. The total revenue of the LED indoor lighting manufacturing industry in China is also forecasted to increase consistently at a CAGR of approximately 16.9% from 2017 to 2021. In view of this, the Group plans to increase the level of automation and efficiency for the production of the Group's LED decorative lighting products to decrease costs and improve productivity. Following the successfully listing on the Growth Enterprise Market ("GEM") of The Stock Exchange of Hong Kong Limited ("SEHK") on 16 November, 2017, the Group will use approximately 55% of its net proceeds from listing (approximately HK$26.9 million) for upgrading the Group's production facilities to expedites automation development. The Group will continue to upgrade existing production facilities through purchasing more equipment and machinery, and will purchase additional facilities for better quality control and enhancing the stability and reliability of our LED luminaire lighting series.
About Bortex Global Limited
Bortex Global Limited (the "Group") is a developing manufacturer and exporter of LED lighting products listed on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited on 16 November, 2017 with a production plant located in Dongguan, Guangdong Province, the PRC. The Group principally engages in the manufacturing and sale of quality LED lighting products to its customers in North America, Europe and Asia Pacific. With over 10 years of operations in the LED lighting product industry, the Group offers a range of LED lighting product series with different designs and features and is able to handle one-stop production process by offering prototyping, sampling, manufacturing, assembling, and packaging of LED lighting products in accordance with the specification of its customers on a mix of ODM and OEM bases.
Topic: Press release summary
Source: Bortex Global Limited
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
