In 1985, a private-owned Wuxi Qianfeng Screw Factory was founded in Wuxi, Jiangsu Province as the associated company of a Shanghai state-owned company. Since its separation from the state-owned company, Wuxi Qianfeng has been independently receiving orders and manufacturing chipboard screws, drywall screws, tapping screws, self-drilling screws and non-standard parts. Today, the factory grows much bigger and stronger, covering an area of 25,000 square meters and equipped with advanced cold heading and thread rolling machines.
Based on the development of its plant Wuxi Qianfeng Screw Factory, a shareholding company Haiyan Mingyang Fasteners Co., Ltd. was established in 2009, which is located in Haiyan County, Jiaxing City, Zhejiang Province. It has the self-managed rights of import and export and has passed the ISO9001 quality management system and RoHS compliance. It is aggressively expanding its fastener trading business around the world, covering Russia, Ukraine, Brazil, USA, Canada, Australia, South-east Asia, etc. and serving the areas of construction, decoration, industry and retail department.
Although Haiyan Mingyang is a fresh company, it is definitely a rapidly growing company, for its annual sales are quite notable. "We saw an increase of 40% from 2 million US dollars in 2009 to 10 million US dollars in 2010. Last year, our export value ranked top 26 among Jiaxing fastener companies." Yuan Xiaoyang, General Manager of Haiyan Mingyang proudly told CFI reporter.
While many exporters are complaining about the difficult external environment in 2011, Haiyan Mingyang holds optimistic attitude towards its business and is ready to embrace the trading opportunities ahead.
"We are trying to transform the company model from production-oriented to trade-oriented." Yuan said. To achieve this goal, Haiyan Mingyang ofen shows up in lots of international exhibitions, such as NIFS/West, Fastener Fair Stuttgart, Feicon, MosBuild and Canton Fair, which it believes is one of the best ways to attract more importers and distributors. In April 2011, it took part in the Suzhou Fastener Trade Show with special design booths. Yuan recalled, "We were very busy at the show. We recognized many new customers from South Africa, Turkey, USA, Canada and South America. To our joy, our prospects - purchasing representatives from joint ventures also came to our booths. That's why we keep exhibiting at the Guangzhou Fastener Trade Show this November (Booth# D63, D65, D67)."
Yuan admitted that the antidumping duties imposed by the EU do affect them, yet the company still keeps doing business with EU customers as usual; in recent years, South America is an emerging market and favored by many Chinese fastener companies. There is no exception for Haiyan Mingyang. To develop and strengthen those two markets, Haiyan Mingyang has opened offices in both Europe and Brazil.
To keep abreast of times, Haiyan Mingyang attaches great importance to innovation, which they believe is their competitive edge. It is reported that it has introduced the collated screws, a kind of screws that only a few companies can produce in China.
As to the goal in 2011, Yuan said, "We expect the annual sales to grow by 50% to 15 million dollars. And we are striving to achieve triple win among process, purchase and supply, so as to better benefit our customers around the world."