Jingsheng Will List Shares on the Taiwanese Bourse

Taipei, Nov. 7, 2011 (CENS)--Jisheng Industrial Co., Ltd., a Shanghai-based outdoor furniture supplier, will return to Taiwan for share listing in December this year.

Founded in Taiwan in 1972, the company was originally a hardware supplier for auto parts and semi-finished products of outdoor furniture. In 1974, due to the bankruptcy of its downstream furniture firm, Jisheng was forced to upgrade its operation to a finished outdoor furniture supplier, featuring an integrated production mode.

The company ships its products mainly to major residential-product outlets, such as Wal-Mart, Kroger, HBC, and Argos. Therefore, its focus is on product R&D, innovation, and concerted development capability with outlets, rather than brand development.

Liu Chung-hsin, chairman of the company, pointed out concerted development capability with outlets is key to its operation. “Residential-product outlets have different themes for every season. How to roll out theme products in compliance with need of those outlets is core value of outdoor furniture suppliers,” said Liu.

The concerted development can also shorten the distance between manufacturing and retail end, thereby cutting production cost.

With the thawing of the cross-Taiwan Strait relationship, the company began to ponder how to supplement the resources of the two sides of the Strait, so as to achieve maximum benefits. “Jisheng started to plan the share listing in Taiwan back in 2009 upon the encouragement of Taiwan Stock Exchange” reported Liu.

The company is incorporated in Cayman Islands, with production base located in Shanghai. Major markets are in North America and Europe. It racked up operating profit of NT$1.058 billion in 2010 and NT$642 million in the first half of 2011.