【Canton Fair Story】Chen Suobin: Our Company Grows together with the Canton Fair
“We are a typical company that has developed relying on the Canton Fair. We have attended the fair for more than 20 years”, said Chen Suobin, Chairman of Qingdao Kingking Applied Chemistry Co., Ltd. (hereinafter referred to as “Qingdao Kingking”), at the 125th Canton Fair.
In 1995, Chen Suobin received the first order of export to the United States at the Canton Fair. “Qingdao Kingking only made candles more than 20 years ago. Later we developed into a global enterprise that produces cosmetics and aromatherapy candles, and became the first A-share listed company in China’s light industry process industry in 2006. All of these achievements could not have been made without the platform provided by the Canton Fair.”
“In the past, many exhibitors at the Canton Fair focused on OEM production. Independent product R&D and design were relatively difficult for enterprises.” Chen had mixed feelings when talking about changes of the Canton Fair over the years. Canton Fair, which has gone through 62 years of trials and hardships, has become a big stage for enterprises to display their brands, exchange information with global counterparts, and discuss industry development trends.
Chen believes that the most important thing in developing self-owned brand is to gain recognition from users. “Qingdao Kingking upholds working on self-owned brand, which requires more arduous efforts, thereby taking the lead in product standards, technological innovation, quality service, etc. in the industry.”
In terms of product innovation, Qingdao Kingking invests more than 3% of its annual sales in technology, and has applied for more than 1,800 patents. Its trademarks have been registered in 26 countries around the world.
After more than 20 years of development, the company has gradually become a major supplier of daily candle products for many of the world’s top 500 companies. Its brand products are sold to more than 50 countries and regions.
With the experience of expanding in overseas markets, Qingdao Kingking decided to enter the cosmetics industry in recent years. Currently, it has the right to operate more than 200 brands at home and abroad. It works with Tencent to explore the business model of “Internet + cosmetic” and provide users with convenient and efficient smart retail experience.
According to Chen, Qingdao Kingking will continue to enhance import and export through the Canton Fair. “In addition to exporting goods, we also purchase raw materials at the Canton Fair. Although international trade tends to be digitized, the Canton Fair is still an irreplaceble platform for exchanges.”
Sources: WeChat account of Ministry of Commerce, Canton Fair Press Center, xinhuanet.com
Reporters: Luo Shiwei, Guan Jinheng