The Group’s trading business is conducted through Shanghai Goldbond Trading Company Limited (“Shanghai Goldbond”), a wholly-owned subsidiary of the Company.
The Group’s products traded are mainly chemical products which are essential to the manufacturing of polyester fibers and antifreeze formulations. The operation recorded a remarkable growth as a result of the improvement of sentiments of chemical markets in general, and the management’s successful efforts in business expansion and securing more banking facilities.
The Group will continue to develop the trading business, and will look for potential suppliers and/or customers for trading of other products and commodities in the context of diversification. The Board expects that the trading business will enable the Group to expand its business network and market reach which may bring synergy effect to the Group’s other businesses e.g. factoring.
