【Release immediately】 8 June 2021
Ten Pao Group Holdings Limited
Ten Pao's Production Base in Vietnam Has Commenced Operation
Further Enhancing Its Global Production Layout
[8 June 2021 - Hong Kong] Ten Pao Group Holdings Limited ("Ten Pao", and together with its subsidiaries, the "Group;" stock code: 1979) is pleased to announce that the production base in Vietnam, which Ten Pao invested and constructed, has officially commenced operation in the second quarter this year. This is the third self-owned production base, also the second one overseas, in addition to production bases in Hungary and in Huizhou, China. This new production base is an important foothold for the Group's global production expansion plan, as well as for the development of new projects and potential customers. It also echoes the PRC government's "Belt and Road" initiative by being part of the global trading strategy.
The production base locates near Ho Chi Minh City, Vietnam (South Tan Uyen Industrial Zone, Tan Uyen City, Binh Duong Province) with a total plant surface area of approximately 17,000 square meters. This plant mainly produces power supply products, such as smart chargers for smartphone, smart chargers and controllers, new energy vehicle charging piles and power adapters. The plant is equipped with a complete and mature supply chain, including research and development of the latest technologies, production, and after-sales customer services. It also has introduced a wide range of the state-of-art production lines and highly automated equipment with an aim to provide one-stop smart power supply solutions to domestic and customers in the neighbouring regions.
The official commencement of the Vietnam production base is an enhancement to Ten Pao's global supply chain system. Locating adjacent to the major international logistics corridor, Vietnam is at the best location with transportation conveniency, benefitting Ten Pao with its operation and logistics efficiency. Vietnam has also long been welcomed by international renowned enterprises with its openness to globalisation trend. The Group's production base will effectively meet the incremental demand in local and overseas markets, further enhancing Ten Pao's international competitive advantage.
Ten Pao has been actively promoting its global expansion strategy by setting up production bases in the PRC, Hungary and Vietnam. The Group's globalised production footprint will effectively diversify risks arising from geopolitical instability. Looking ahead, Ten Pao will maintain a sustainable growth through continuing its solid and stable operation, bringing out innovative development ideas and optimising resource allocation. To grow together with our customers, we promise to keep a close pace with our customers' expansion, to maintain an active approach at the global expansion of production bases to agilely meet customers' needs in different regions, as well as to provide the most convenient and prompt services for them.
About Ten Pao Group Holdings Limited
Ten Pao Group was established in 1979 and listed in 2015 in Hong Kong (Stock Code: 1979). With 40 years of experience in power supply industry, Ten Pao designs and manufactures safe and reliable power supplies and smart chargers, and provides with competitive "one-stop smart power supply solutions". By cooperating with different famous brands for years, it has become trustworthy supplier for various international brands.
This press release is issued by DLK Advisory Limited on behalf of Ten Pao Group Holdings Limited.
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08/06/2021 Dissemination of a Marketing Press Release, transmitted by EQS Group.