| We are a leading global manufacturer of hair goods, including wigs, hairpieces, braids and high-end
human hair extensions. According to the Frost & Sullivan Report, we ranked fifth in synthetic hair goods
sales globally with an approximately 4.0% market share of global synthetic hair goods manufacturer
revenue in 2016. We design, manufacture and sell a wide range of hair goods made with synthetic fibres
and human hair targeted at different ethnic groups and the Halloween market.
Our principal market is the United States, which contributed approximately 76.3% of our revenue in
2016. Our key sales products in the United States include synthetic hair goods used mainly by women of
African descent for daily wear as well as beauty and grooming purposes. Our other key markets are Europe
and Asia, which contributed approximately 7.2% and 14.3%, respectively, of our revenue in 2016. Our
sales in these two markets primarily consist of high-end human hair extensions as well as other hair goods
designed for women of African descent in Europe.
We have three production centres in China and two production centres in Bangladesh. Our
production facilities were initially set up in China. Due to rising labour costs in China, in 2009 we began
to diversify our production in Bangladesh where we could tap into a sufficiently large labour pool at lower
wage levels. We plan to further construct and complete four new production facilities in Bangladesh by
the end of 2019, comprising an additional GFA of approximately 175,100 sq.m. and planned capacity of
approximately 11,800 additional production employees. As at 31 December 2016, we had a total of 809
employees in China and 12,918 employees in Bangladesh. |