Today, the United States General Electric Company (GE) and annual sales of 3 billion yuan, China's largest lighting products manufacturer - Huizhou NVC Optoelectronics Technology Co., Ltd. (hereinafter "NVC" officially signed a strategic cooperation agreement. For the first time, GE will sell GE's lighting products such as light sources and electrical appliances in China (except Hong Kong, Macau and Taiwan) through its exclusive distributor of sales channels.
GE and Philips and Osram are the world's three major lighting giants. GE has established large-scale lighting production bases in Shanghai and Xiamen, which can provide a full range of products such as incandescent lamps, fluorescent lamps, energy-saving lamps and automobile lamps. An industry expert analyzed the “First Financial Daily†that channel driving is more important than brand driving. International brands such as Philips and Osram have established a relatively complete sales network in the Chinese market, while GE lacks strong lighting sales in China. Network, this soft rib leads to GE's current share of the Chinese lighting market
Wang Shaoling, deputy general manager of NVC, explained the reasons for the cooperation between the two parties. He said that NVC, which has three large-scale lighting production bases in Huizhou, Shandong, Linyi, and Wanzhou, Chongqing, has more than 1,600 brand stores nationwide. At the same time, NVC has also established a regional operation center with 35 provincial operation centers to build a strong logistics, capital and management platform. This is the largest lighting sales network in China, and the sales channel model of “Operation Center + Brand Franchise†is the most valued by GE.
NVC's cooperation with GE is not limited to "agent sales products". NVC is currently negotiating OEM (OEM) business with GE. Currently, both parties are determining the specific models of GE brand lighting products that NVC will manufacture on a contract.
The cooperation with GE has made NVC another important step on the road to internationalization, which can promote NVC's current overseas financing listing process.
NVC’s chief financial officer Tan Ying introduced that NVC has already raised $22 million from Softbank. Softbank has become the second largest shareholder of NVC. NVC is also negotiating further financing with financial giants such as UBS and Merrill Lynch. As soon as possible, the overseas main board is listed. At present, NVC has obtained approval from the relevant state departments for overseas listing. NVC's overseas listing location is initially selected on the Main Board of the New York Stock Exchange or the main board of the Hong Kong Stock Exchange, and will be able to successfully issue shares as soon as possible next year.
NVC is currently joining a number of senior executives from foreign companies such as US TCP and Philips Lighting to accelerate the pace of internationalization and prepare for overseas listing.
Wang Shaoling introduced that Xia Lei, the former president of TCP China, has already moved to NVC; the original sales director of Philips Lighting China, and the director of product management and development of the lighting division, Yin Wei, have served in Philips for 11 years and have already been appointed. General Manager of NVC Lighting & Lighting Division; Zhang Qingyu, former director and sales director of Philips Lighting China, has served in Philips for 9 years and is currently the general manager of NVC's overseas business unit.
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