- opening a new pattern of China local electronic distribution industry
Shenzhen China, Dec. 1, 2015. Honestar and Asiacom, two leading technical solutions and comprehensive service providers of electronic components in China, today issue a joint statement that they will form a strategic alliance to establish a new corporation named as “Best of Best Holdings Ltd.”(herein after referred to as BoB Holdings). The move will not only set up the first platform of large electronic component distributor industry alliance by holdings mode in the mainland of China, but also signify that the electronic distribution industry has entered a new era in China -- to attain complementary advantages, diversified customer service and maximization of customer benefit on a platform of sharing resources, making contribution to strategic targets of "Made in China 2025" with practical actions.
Four companies firstly join in “BoB Holdings.”They are Honestar, Aisacom, Skynoon and DadouTek. This platform will adopt the operation mode of Holding company + subsidiary companies. All the subsidiary companies will independently operate and manage their own business, meanwhile sharing warehousing logistics, capital credit, ERP/CRM/OA system, online e-business platform and solution design. This operation mode will maximally preserve the benefits of the suppliers, customers, staffs and shareholders of all the subsidiary companies, and also provide more abundant resource support and greater development space.
The management architecture will adopt the mode of co-Chairman and co-CEO. Mr. Wang Yucheng (Paolo Wang), the president of Honestar, and Mr. Lin Jianming (Jemmy Lin), the president of Asiacom, will hold the posts of co-Chairman and co-CEO of the first term. The major decisions of BoB holdings will be made by the board of Directors. A dedicated EMT will be set up to carry out daily operation and management. The members of EMT consist of the excellent managers of the subsidiary companies. The incorporation will be accomplished by Jan. 1, 2016.
Regarding this significant cooperation, Dr. Wang Yucheng, the president of Honestar, expressed that “With the growing competition in global electronic information industry, the pace of scalization and capitalization is also accelerating. The large scale integration and merge of the upstream suppliers keep ongoing. The downstream customers have been increasingly concentrated as a result of selecting the superiors and eliminating the inferiors. All these trends pose great challenges and as well opportunities to the distributers who play important roles in the middle stream of industry chain. To cope with these challenges and opportunities, we join hands with Asiacom to form BoB holdings and open a new mode of partnership. This is a brand new open platform of cooperation. We welcome more peers with the same goal to join us to quickly gather resources, make effort together to achieve best of best.
Mr. Lin Jianming, the president of Asiacom, expressed that“Both Asiacom and Honestar are the excellent local electronic component distributors. We come together today to form this great platform of BoB holdings for a same dream. For our upstream suppliers, it will provide more and better technical resources, customer resources, market resources and financial resources, which will dramatically increase their market share and sales revenue. For the downstream customers, we can provide more product line resources, more technical solutions, faster and better logistic service and stronger financial support. For our employees, we will provide a larger stage and development space, and let every people fully play at his best to create greater value and realize his own dream. In the following 3~5 years, BoB holdings will perform service operation and capital operation side by side. The franchised product lines will be increased to above 150, the number of trading customers will exceed 5000, the employee headcount will exceed 1000, and the sales revenue will go above RMB 10 billions. On capital operation, BoB holdings will perform investment and financing, promote the integration of the industry resources, expedite building E-commerce transaction platform, and strive for IPO as early as possible in the mainland of China.”
In the future, BoB holdings will continue to focus on China electronics industry market and actively explore Asian market at the same time, striving to become a leader of electronic components technical solutions and comprehensive service in Asia.
About Honestar www.honestar.com
Founded in 2000, headquartered in Shenzhen, Honestar has built-up a sales networks covering 20 main cities in China, such as Hong Kong, Taiwan, Shanghai, Beijing, Chengdu, Qingdao, Xi'An, Xiamen and Guangzhou etc. Currently, Honestar has more than 400 staffs, 50% of them are for sales & marketing, and 25% for R&D engineers and 25% for operation. Since its founding, Honestar has been keeping annual growth of 30~40%, and already become one of top local distributors in China in term of overall size. With more than 60 well-known international and domestic product lines, Honestar is the top distributor in TV/STB& mobile phone and LED lighting markets.
Skynoon and Dadoutek are the subsidiary companies of Honestar. They mainly focus on IoT and LED Lighting market.
About Asiacom www.asiacom.com.cn
Founded in 2000, headquartered in Shenzhen, Asiacom Technology Ltd. is a recognized excellent distributor of electronic components and devices in China. Asiacom is the franchised distributor and technical representative of more than 30 global leading semiconductor companies. We are the certificated supplier of more than 1000 electronic manufacture enterprises and research institutes, covering communication, mobile, industrial, lighting, consumer and automobile electronic markets. For a decade, Asiacom has been consecutively elected as the top 10 best franchised Chinese local distributors by ESMC. Asiacom has around 150 employees and 11 offices all over the country. Under the guidance of customer-centered and value-oriented rules, our company has been paying great attention to technology promotion and demand creation. We provide our customers with in-depth circuit design and comprehensive system integration service, playing a role of technical consultant/counselor as well as supplier, offering the best and fastest services.