Superb Summit International Timber Company Ltd (previously the "Tak Shun Technology Group Ltd") was listed to HKEX on 18 September 2001. On 8 October 2007, the Group acquired the 70% stake in the Green & Good Group Limited which was specialized in (i) exploitation and management of timber resources in the PRC; (ii) research and development, processing, manufacturing, distribution, marketing and sales of a wide range of timber products. Upon the completion of the acquisition, the Group had diversified its business to the manufacturing and trading of timber resources and timber products.
On 25 January 2008, it was approved by the shareholders to change the register name of the Group from "Tak Shun Technology Group Ltd" to "Superb Summit International Timber Company Ltd". On 27 November 2009, the Group acquired the remaining 30% stake in the Green & Good Group Limited which became a wholly owned subsidiary of the Group. On 23 June 2010, the Group completed the disposal of electronic products business. Currently, the Group is principally engaged in integrated timber and electronic products including: (i) exploitation and management of timber resources in the PRC; and (ii) distribution, marketing and sales of a wide range of timber products.
Establishment of Electronic Timber Trading Platform in China
The Group worked closely with the Research Institute of Wood Industry of the Chinese Academy of Forestry to conduct the "Study of Standardization in the Timber Trading in China" in March 2008, in an effort to explore the feasibility of developing nation-wide electronic timber trading platform for timber industry that might solve the existing problems in the transaction flow such as over reliance on spot transaction, too many processes involved, high transaction cost and low transaction volume, etc. In October 2008, the subsidiary of the Group, Beijing Superb Summit Qianyuang Information Technology Co. Ltd gained the approval of the National Timber Industry Administration Office to establish the first timber electronic trading platform (CTEx) in China. The strategic meaning of CTEx is to facilitate the electronic timber trading in China under the guidance and support of the central government.
CTEx is a centralized, electronic trading platform for bulk timber products. Standardized timber raw materials, semi-finished timber products could be traded on electronic platform in accordance with market rules and regulations. Traders of the timber industry will be recruited as the members. Trading could be carried out by several modes, namely, spot transaction, public auction, forward trading. The Group will also form project companies with some regional timber trading markets to establish regional CTEx and supervised timber warehouses so as to achieve scale-efficiency. Our ultimate goal is to set up CTEx at the major timber import regions across the nation.
updated 19th August, 2010
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