Released on: January 16, 2008, 1:15 am
Press Release Author: Henry T. Cochran
Industry: Transportation & Logistics
Press Release Summary: SinoHub Technology Company, Ltd. has successfully closed a US$1.385 million mezzanine financing round, which will be used to prepare for the Company’s expected listing on the NASD OTCBB in the USA in Q2 2008. This mezzanine round was led by electronic component supply chain management services veteran Mr. Li Xian Qiu.
Press Release Body: SHENZHEN, PR CHINA, December 28, 2007 – SinoHub Technology Company, Ltd., owner of the leading electronic component supply chain management platform in China, today announced that it has successfully closed a US$1.385 million mezzanine financing round. This mezzanine round was led by electronic component supply chain management services veteran Mr. Li Xian Qiu. The company will use the funds to prepare for its expected listing on the NASD OTCBB in the USA in Q2 2008. Following this event, SinoHub will be in position to become the standard electronic component supply chain management platform for China.
Latest reports show the volume of electronic components being imported into PR China has crossed the US$ 5 billion per month mark and that the development of new fabrication facilities for electronic components inside China is proceeding very quickly. 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 VMI/Just-In-Time delivery and procurement fulfillment services.
SinoHub Electronic Component Supply Chain Management Platform The Integrated Supply Chain service platform provided by SinoHub, with SinoHub SCM at its core, 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 customers are taking advantage of our SCM platform to solve information, money and material flow bottlenecks that restrain their development and growth.
“SinoHub is well on the way to branding their name to be synonymous with world-class electronic component supply chain management services in China,” said Mr. Li Xian Qiu. “The platform they have built, which consists of the integration of SinoHub SCM (a proprietary, world-class, online, SCM MIS system), logistics service centers in key distribution/manufacturing cities, and a hundred person strong service staff team that has deep electronics knowledge, is propelling their rapid growth.”
“This commitment from our mezzanine round investors provides solid backing for SinoHub to take our company to the next level,” said Harry Cochran, CEO of SinoHub. “Our business is extremely scalable. We have the ability to deploy new funding profitably at a very fast rate. Now that we have reached the exponential part of the growth curve, I expect SinoHub to move quickly into a dominant market position.”
About
SinoHub
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
Address: Room B, 2nd Floor, M-10, Central (W.), Shenzhen High-Tech Park, Shenzhen,
China
Tel: +86-755-2601-2481
Fax: +86-755-2601-2224
email: falicia@sinohub.com