The Group mainly manufactures and sells clothing labels and decoration products. Most of them are accessories attached to clothing products, such as tags, woven bags, printing and heat transfer products. Through the Group's products, clothing brands communicate a variety of information to customers, including brand identification, origin, size, fabric and maintenance instructions, which are also used for in-store security and clothing brand product tracking. The Group began printing business in Hong Kong in 1992, and has since established major production facilities in China, Bangladesh and Vietnam.

The Group mainly sells its products to clothing manufacturers (manufacturers of clothing products for some US and European clothing brands). The Group generated more than 70% of its revenue from selling tags and woven bags on its own. According to Frost & Sullivan's report, the group ranked fifth in China's clothing label and decoration products manufacturing market in terms of revenue in 2018.

Risk Factors

There are no long-term agreements between the Group and customers (mainly including clothing manufacturers), nor any agreements with clothing brands. As a result, the number of purchase orders obtained by the Group from customers may fluctuate from time to time, making it difficult for the Group to estimate future purchase orders.