Deloitte Guan Huang Chen Fang Accountants
PO Box 472, 2nd Floor Harbour Place, 103 South Church Street George Town, Grand Cayman KY1-1106 Cayman Islands
Head Office and Principal Place of Business
11 / F, Strapdown Industrial Building, 30-32 Industrial Street, Kwai Chung, New Territories, Hong Kong
Hong Kong motherboard
(+852) 2427-5899 / (+852) 2427-5468
(+852) 2420-3938 / (+852) 2420-3902
Xunxiu Industrial Group Co., Ltd. is an investment holding company. The company and its subsidiaries are mainly engaged in the production and trading of hair products. The company's business is mainly divided into three divisions. Wigs, wig accessories and other business segments are mainly related to a range of wigs and other wig accessories sold to customers in the United States and Europe. The high-end human hair receiving products business segment mainly deals with high-end human hair receiving products sold to hair salons in North America, Europe and Asia. The Halloween product division is mainly involved in the sales of wigs, hair accessories and clothing designed for parties and festivals.
We are one of the world's leading manufacturers of hair accessories, including wigs, hair accessories, braids and high-end human hair products. According to the Frost Sullivan report, we ranked fifth in global hair accessories sales, accounting for about 4.6% of the global manufacturer's revenue market share in 2015. We design, manufacture and sell a range of hair accessories made of synthetic fibers and human hair for different ethnic groups and Halloween markets.
Our main market is the United States, which accounted for about 73.9% of our revenue in 2015. Our main products sold in the United States include chemical fiber hair accessories mainly used for daily wear, beauty and care for African-American women. Our other major markets are Europe and Asia, accounting for about 9.6% and 13.0% of our revenue in 2015, respectively. The products we sell in these two markets mainly include high-end human hair receiving products and other hair accessories designed for African-American women in Europe.
We have three production centers in China and two production centers in Bangladesh. Although our production equipment was originally located in China, we began to expand production to Bangladesh in 2009. We plan to take a step forward to build and complete five new production facilities in Bangladesh by the end of 2019, with a total floor area of about 150000 square meters and a planned capacity of about 8000 production workers. As at June 30, 2016, we had a total of 826 staff in China and 14097 in Bangladesh.