Speech of Company Representative on 923 Banquet----Mr. Chen Yuezhong, General Manager of Zhejiang Qifeng Hardware Make Co., Ltd.-China Fastener Info

Speech of Company Representative on 923 Banquet----Mr. Chen Yuezhong, General Manager of Zhejiang Qifeng Hardware Make Co., Ltd.

| Exhibition Info

Exhibition Name: Speech of Company Representative on 923 Banquet----Mr. Chen Yuezhong, General Manager of Zhejiang Qifeng Hardware Make Co., Ltd.

| Exhibition introduction

Ladies and Gentlemen,

First of all, it's my great honor to speak here as a company representative, and also I appreciate all the supports from friends of all circles for the development of Qifeng. On behalf of all our staff in Zhejiang Qifeng Hardware Make Co., Ltd., I'd like to take this opportunity to express my special thanks to you all.

Located in Haiyan Zhejiang, which is known as "Fastener Hometown", Zhejiang Qifeng Hardware Make Co., Ltd. grew up from an ordinary hardware workshop. With ten years development, it's now becoming a professional manufacturer and exporter with 13,000 square meters modern standard plant and more than ten years experience in hardware manufacturing. Our sales amount grows from 2 million yuan in 2001 to more than 50 million yuan in 2007. We expect the sales amount will reach 100 million yuan in 2008 and exceed 200 million yuan in 2009. At present, our products are exported to Europe, America, South-east Asia, Middle East and other countries and regions. We have advanced equipment from home and abroad, precision processing techniques and crafts, strict quality control system and complete inspection equipment to guarantee excellent and reliable products. With high-quality raw materials from domestic and overseas large steel mills, we manufacture all kinds of bolts, nuts, wood screws, stampings, cold-forging, hot-forging, cold-extrusion and machining parts in accordance with GB, DIN, ANSI, BS, as well as non-standard parts. Our products are of a wide range of specifications from M6 to M52 and max length up to 1500mm. All products are widely used in fields of construction, automobile, motorcycle, farm vehicle, transportation, furniture and so on.

Since July 2007, nearly all fastener exporters in China have faced such problems as the cut of export rebate, appreciation of RMB, trade barriers, anti-dumping and rise in material price. If a company just produces a single type of product, it will suffer a big impact from the market and have low anti-risk ability because of its limited industrial chain,. Also, the products are low value added, which means the company is likely to be eliminated by the market. In my opinion, this situation is not only a challenge but an opportunity, which drives us to innovate for further development. I like this saying very much "Necessity is the mother of invention". If you are always content with the current conditions, you must be eliminated by the market. Therefore, we strengthen our R&D at the beginning of this year. We are working with Zhejiang Hi-Tek Fastener R&D Co., Ltd. and spending lots of time developing a new product--a kind of threading spike used in the high speed railway with speed up to 250-350 km/h. At present, this product has already obtained the certifications of the Ministry of Railways in China and Vossloh in Germany, and the first lot of products has successfully entered Wuhan-Guangzhou High Speed Rail Line which is under construction.

Finally, I'd like to say a few words to China Fastener Info. I should say that China Fastener Info and I are old friends. I remembered that when I was searching for the right platform to promote our products, China Fastener Info deeply impressed me by its professional and good service attitude. Until now, I still feel lucky for I've made a smart choice. For recently years, this old friend has been creating more and more opportunities for our company development. I hope China Fastener Info will become better and better. Also, I hope Fastener Trade Show will be held successfully. Thank you!

Speech delivered by Mr. Chen Yuezhong, General Manager of Zhejiang Qifeng Hardware Make Co., Ltd.
Sept. 23, 2008

Translated by Stephanie
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