Since Jinwang started its business with 20,000 yuan in capital in 1993, it has grown from 5 employees to more than 3,000 employees around the world, with annual sales of 1.6 billion yuan, export earnings of 100 million U.S. dollars, and profits and taxes of more than 100 million yuan. In just 12 years, King King has been implementing the development strategy of accelerating independent technological innovation and building an international brand into all stages of the company's development, and has developed into the first listed company in Asia and the third listed company in the world in the daily consumer candle industry. , is the largest candle product manufacturer in Asia with the strongest comprehensive strength, and is a high-tech enterprise integrating R&D, design, production and sales. The company has been successively rated as: China's key cultivated and developed export brand enterprises and national key high-tech enterprises. The Kingking brand has been awarded the Chinese Famous Brand by the General Administration of Quality Supervision, Inspection and Quarantine, and the Chinese Export Famous Brand by the Ministry of Commerce. After years of international market network expansion, King King has initially established two core radiation centers around the world, forming an operating model with market segmentation, complementary advantages, rapid response, and brand-driven operations: First, it is centered on the United States and covers North and South America. . The second is to cover the Asia-Pacific region with China as the center. According to the characteristics of different regional markets, various forms such as R&D centers, overseas processing trade factories, and trading companies are adopted to strengthen the three major strategic markets of the United States, Europe, and Asia, so that R&D, manufacturing, and sales can gradually integrate with international standards and take the step of internationalization. The first step in developing the model.
Qingdao King King Group is located in Bentonville, Arkansas and Los Angeles near the headquarters of Wal-Mart in the United States. It has become the group's R&D, design and sales center in the Americas. In 2006, it has added exports of US$10 million. ; Manufacturing plants located in Busan, South Korea, and Ho Chi Minh, Vietnam, have become important overseas production and processing bases of the group. By connecting with major international markets in Europe and the United States, we have integrated the advantages of some countries in Southeast Asia and expanded exports to European and American countries. In 2007, we added new trade amounted to US$20 million. In September 2007, the company planned to increase its investment in Baojing International by US$15.8 million. The additional portion will be used to purchase and construct new land, factories, equipment and recruit new employees to expand production scale and improve economic benefits.
Kingking’s independent Kingking trademark has been registered in 26 countries around the world. Kingking brand products with more than 1,200 patents have been sold in more than 50 countries and regions around the world. It is the main supplier of daily consumer candle products to 26 Fortune 500 companies such as Walmart in the United States, IKEA in Sweden and Carrefour in France. It has been rated as the "Best Supplier in the World" by the Walmart Group in the United States for many consecutive years. It is the only Chinese company that has a Kingking independent brand counter in Wal-Mart. The internationally leading R&D center has been authorized by IKEA of Sweden and SGS of Switzerland as a standard testing agency for candle products.
By expanding the international market, King King is based in China and radiates to the world. King King brand products are sold in batches to major economic regional markets around the world. King King has its own overseas R&D, design and sales network. The brand has gained a certain degree of popularity, credibility and reputation in the international market, and has begun to join the ranks of internationally renowned brands. Its influence is rising rapidly with the expansion of the global market. From 2000, the export sales of King King's own brand products only accounted for 10% of King King's total product sales. By 2008, the proportion of self-owned brands had increased to 60%, with most of the products entering the high-end markets in Europe and the United States.
The rapid development of Jinwang has attracted great attention from party and state leaders. On the afternoon of July 20, 2008, Hu Jintao, General Secretary of the Central Committee of the Communist Party of China, President of the State, and Chairman of the Central Military Commission, accompanied by relevant leaders, came to Qingdao King King to inspect and investigate the company's production and operation. King King has proposed an "industrial upgrading" strategy, developing a vertical integration strategy from upstream energy resources to terminal market network resources, and optimizing industrial layout. The arrival of General Secretary Hu Jintao has greatly inspired the combat effectiveness of King King's cadres and employees.
We are determined to face the difficulties in accordance with the requirements of General Secretary Hu Jintao, do everything possible to overcome the immediate difficulties, turn pressure into motivation, turn challenges into opportunities, accelerate the transformation of the economic development model, and promote independent innovation to improve the market competitiveness of products and the international competition of enterprises. We strive to improve enterprise management to increase labor productivity, reduce production costs, strive to maintain the good momentum of enterprise production and operation, and achieve new results in production and operation.