SINOHUB Receives RMB 5 Million Bank Line From Shenzhen Development Bank
June 20, 2007, 2:46 am
Release Author =
Release Summary =
Shenzhen Development Bank has provided a new RMB 5 million credit facility to SinoHub for use in the Company's rapidly growing electronic component supply chain management services business in China
Release Body =
SHENZHEN, PR CHINA, June 26, 2007 – SinoHub Technology Company, Ltd. today announced that it has successfully closed a RMB 5 Million credit facility with the Shenzhen Development Bank. The company will use the funds to accelerate its growth. Already a leading company in the rapidly growing field of electronic component supply chain management services in China (import, buffer inventory, procurement fulfillment, just-in-time delivery, export 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$ 5 billion per month mark and that the development of new fabrication facilities for electronic components inside China is 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 procurement fulfillment services.
“I believe that SinoHub's unique service offerings and software technology will rapidly become synonymous with high quality electronic component supply chain management services in PR China,” said Mr. Kang, head of Shenzhen Development Bank. “I am also excited about SinoHub's prospects to expand their service offerings through internal growth and potential acquisitions.”
“This commitment from Shenzhen Development 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 Offerings
The Integrated Supply Chain service suite provided by Sinohub, SinoHub Electronics Harborä, 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.
“We are delighted to have such strong backing from Shenzhen Development Bank”, said Willa Li, SinoHub's 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 better advantage of the robust platform we have built over the past 6 years to offer a true one-stop-shop SCM service experience for our customers,” 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 Management Information System and our coverage in China.”
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 MIS for all participants in the supply chain of electronic components. For more information, please visit our Web site at www.sinohub.com.
Web Site = http://www.sinohub.com
Contact Details = SinoHub Technology Company, Ltd.
“深圳发展银行的信任是对我们服务和技术特色以及公司前景的最好证明，”协诺的CEO, Harry Cochran先生说，“我们是在中国大陆电子元器件行业第一家完全应用世界级供应链管理的公司。”
Back to previous page...
Back to home page...
Submit your press releases...