Steady Progress in Supply Chain Operations during the Past Six Months

Faced with the huge impact of Covid-19,

Sumec has adhered to the philosophy of “embracing the changes, and meeting changes with flexible adaptations”.

We have been dedicated to building up our capability to cope with uncertainties;

We have proposed the “332 Strategy” and laid the foundation for the realization of our annual goal with actions.  

How have our core group companies been functioning during the first half of 2020?

Let’s have a look.

In the first half of this year, Sumec International Technology Co., Ltd. (hereinafter referred to as Sumec ITC) has devoted to the fight against covid-19, created a safe environment for the staff to return to work, grabbed the opportunity to exploit markets, digged into customers’ pain points, and promoted business transfomation, which led to a continuous improvement in our operating performance and quality. With our total import &export value and domestic trade value growing respectively by 15% and 12% year on year, Sumec ranks top 1 importing and top 9 exporting enterprise in Nanjing.

The Fight Against Covid-19 and Safe Return to Work

Sumec has exploited our advantages in supply chain to the full and positively undertaken the task of importing epidemic prevention and medical appliance in shortage, an important task handed over by our local government. In total, Sumec has successfully imported 0.25 million masks, and thus received letters of thanks from major government institutions such as United Front Work Department of CPC Nanjing Committee, Nanjing Joint Defense and Joint Control Comm, Jiangsu Provincial and Nanjing Foreign Affairs Office, Nanjing Gulou Hospital,etc.

Sumec has taken strict measurements in the prevention and control of the pandemic, and is one of the first companies that started the procedure of returning to work for its staff. An emergency leading and operating group was set up without delay right after the coronavirus outbreak, with all group members taking actions quickly and deploying a series of contingency plans, all of which led to an ultimate goal: to dedicate to the resumption of work and production, to secure our customer orders, to retain our clients, and to keep our market share.

Exploit Markets and Grab Opportunities 

Sumec has kept a close track of the changes in global commodity market, and manged to find the avail wave bands in steel business and accomplished an export value of 1.036 million tons, growing by 0.14 million tons year on year.

Sumec has been continuously optimizing the structure of commodity in domestic trade. We have expanded our business to new areas including infrastructural construction distribution projects, petrochemical industry, subdivisions of minerals. Statistically speaking, we have achieved a transaction value of 23.58 billion in domestic trade, with a year-on-year growth of 9%; in commodity import, the value of the L/C (Letter of Credit) we issued has increased by 44% year on year. Especially the business of refined oil products have thrived, with a year-on-year growth of 0.7 million tons which marks a new breakthrough.

Dig into Customer's Pain Points and Promote Business Transfomation

Sumec has built up and given full play to our advantages of financial resources: we have introduced low-cost financial resources from Germany and Italy and formed our financial service solutions, which aims at boosting business expansion with financial resources.

Sumec has seized the pain points for electromechanical equipment buyers such as the difficulty of finding financial resources, the high cost of financing and the unlikelihood of meeting in person during the covid-19 period: there are multiple functions such as online contract signing, equipment exhibition hall, financial lease display hall successively added to our online global equipment transaction service platform “Sumec Touch World”, designed to provide our clients with quality online services. During the first half of 2020, the contract value signed through our platform has reached over 0.2 billion dollars.

The Awards that Sumec ITC Won During the First Half of This Year

Sumec ITC has always stuck to the starting point of bidding and agent services, and provides an integrated supply chain solution of import agent, financial support, logistics, information exchange, and ecological fusion. In 2020, Sumec ITC was awarded “Annual Top 10 Bidding Agency”  for the 15^th year in succession, and therefore, also won the “15 Years’ of Glorious Achievement” award.

Furthermore, Sumec ITC continues to explore the new direction of digital transformation, and was awarded as the key enterprise of Internet Economy in the “Hundred, Thousand and Ten Thousand” project in Jiangsu Province.

As the core component of Sumec’s strategic positioning ——“an international corporate group with supply chain integration services as the main body and advanced manufacturing and engineering contracting as two wings”, supply chain operations has played a prominent role in Sumec’s development during the first half of the year. In the second half, Sumec will adhere to the operating philosophy of maintaining both domestic and overseas driving wheels and will accelerate the pace of digital transformation, explore new business models and directions, and endeavor to achieve higher quality development.