Introduce new suppliers, psychic jewelry to continuously optimize supply chain structure

Since the ipo of A shares last year, tongling jewelry has continued to grow steadily in 2016, with more than 30% growth in the first quarter of 2017. In April this year, after acquiring Leysen1855, a Belgian royal jewelry brand, channeling jewellery improved significantly in terms of brand and core competitiveness. While the industry is expanding rapidly, channeling jewelry is also gradually optimizing its supply chain structure, introducing new suppliers and reducing its dependence on a single supplier.

Previously, the main supplier of tongling jewelry was a Belgian company called Eurostar Diamonds Trade, or EDT. Understand the diamond industry knows, the dimexon eurostar is currently one of the world's largest diamond cutting trading company, its not only in close cooperation with psychic jewelry, also is the Cartier, tiffany, patek philippe, Chopin, etc the main supplier of world-class brand jewelry and watches. According to the company's 2016 earnings, tongling jewelry purchased from eurostar accounted for about 38 percent of total company purchases.

The eurostar is a strategic investor as well as a major supplier of psychic jewelry. In 2012, tongling jewelry decided to introduce the eurostar to its 150 million yuan strategic investment, and also obtained the crystallization of the high-quality diamond cutting culture of Belgium in 550 years -- "the new generation diamond blue flame"; Eurostar received a 15 per cent stake in tongling jewellery, and promised that 10 per cent of the shares would always follow large shareholders and invest only in tongling jewelry in China.

Now, according to the psychic jewelry, according to people familiar with the internal since listing, psychic jewelry has been optimize its supply chain structure, its performance of high-speed growth also attracted many of the world's leading diamond cutting from supplier cooperation intentions. In addition to the eurostar, channeling is currently working with world-class diamond-cutting trading companies such as Rosy Blue and KGK, the world's top five. Blue rose and KGK are among the world's largest diamond mining companies, De Beers. The addition of new suppliers to reduce the reliance of channeling jewelry on eurostar also gives the company more flexibility and efficiency in procurement.

"We will continue to optimize the current supplier structure to further reduce the amount of associated transactions." Tongling jewelry chairman shen dongjun said. It is reported that in the first half of 2017, the amount of channeling jewelry purchased from eurostar has fallen to between 20 and 30 percent of the total purchase price of the company. With the company's royal brand and affiliate channel sinking strategy, it is believed that a more reasonable supply chain structure will also help the growth of channeling jewelry.

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