As the world's largest and most influential electronic components exhibition, the highly anticipated electronica 2024 will be held from November 12-15, 2024 at the Munich Exhibition Center in Germany. Technology is advancing rapidly, and electronic components, as the cornerstone of information technology, are once again leading a new round of transformation in the global semiconductor industry. After a two-year hiatus and the global technological and economic changes, electronica 2024 with an exhibition area of nearly 17000 square meters has attracted over 3000 exhibitors from more than 50 countries and regions, making it the largest in history.

Since last year, the Chinese hard technology industry has shown a trend of going global. As a must visit overseas electronics exhibition for the semiconductor industry, electronica 2024 attracted nearly 1000 Chinese companies to participate, and Shenzhen Chuangshi Technology Co., Ltd. (referred to as "Chuangshi Technology" or "Cytech Systems") is one of them. As a leading electronic component distributor in the industry, growing into an internationally renowned distributor has always been its development plan and goal, and expanding overseas business has also become the company's strategy.

For the first overseas exhibition, Chuangshi Technology emphasizes these major demands!

This electronica 2024, the overseas debut of its innovative technology, introduced its key business scope and important product lines to the industry at booth 150 in Hall B4 of the Munich Exhibition Center in Germany, with a particular emphasis on showcasing the domestic brands it represents.

In recent years, after years of investment and technological accumulation, China's high-end electronic components industry has developed rapidly and achieved initial results. It has also won the attitude of many foreign OEMs with its strength, and their acceptance of domestic chips is increasing day by day. At the same time, compared to the international top manufacturers who occupy the first mover advantage, domestic manufacturers still lack brand strength, product strength, and service capabilities, which also makes their promotion needs, especially overseas promotion needs, strong. Combining with the technology of Chuangshi, after experiencing the ups and downs of the industry in recent years, it has rapidly grown and established a firm foothold in China. However, how to expand overseas markets, establish connections with a wider range of international customers, understand the needs of the international market, enhance the brand awareness of the agency, and seek international customers and even international partners have become the key and internal driving force for this exhibition at electronica 2024.

So, Chuangshi Technology actively showcased high-performance electronic components, including those used in hearing aids, power management chips, and other fields. In fact, in recent years, Chuangshi Technology has vigorously expanded its domestic chip agency business through its subsidiary Shenzhen Chuanghuaxin Electronics Co., Ltd. (referred to as "Chuanghuaxin" or "CHCHIP"), and has accumulated excellent domestic manufacturer resources in their respective fields, including Lorentz, Aipu, Renmao, Youfang, Fengjia, Huimang, Qinheng, Bern, Jinyu, Chengxinwei, Xianji, Muxi, etc.

At industry events like electronica 2024, over 3000 exhibitors and tens of thousands of visitors from around the world gather together, including top international decision-makers, to discuss and witness the latest developments and future trends in the electronics industry, as well as global challenges and upcoming transformation issues. Therefore, this is an excellent platform to showcase strength, expand networks, broaden horizons, and seek cooperation.

The person in charge of Chuangshi Technology said, "By participating in international exhibitions, we can directly contact overseas customers, truly dig into their needs and preferences face-to-face, and lay the foundation for expanding overseas business. In addition, seeking cooperation is also the driving force for us to break through the situation. We hope to further enhance our own strength through communication and cooperation with international enterprises, share resources

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Figure 3. Face to face communication between Chuangshi Technology and overseas customers and partners at electronica 2024

In the process of expanding overseas business, Chuangshi Technology is also more actively enhancing its brand awareness, not only accelerating the expansion of agency resources for top international manufacturers, such as Torex, a top Japanese power management IC manufacturer that has recently reached an agency business cooperation with Chuangshi Technology. Furthermore, showcasing oneself on the international stage is a crucial step in enhancing its international market awareness.

What are the tasks and challenges that need to be actively addressed when expanding overseas?

Firstly, it is to solidify internal strength. Since its establishment in 2010, Chuangshi Technology has firmly implemented the principle of "quality is the lifeline" in its service system. This commitment has also driven Chuangshi Technology to win and gain many benefits, such as the company's dual system certification of AS9140B and ISO 9001, as well as ESD S20.20 certification; For example, obtaining A-level supplier evaluation titles from multiple OEM and EMS manufacturers; For example, Chuangshi Technology has also won the awards of TOP12 on the Supply Chain Connect "2024 Asia Pacific TOP50 Distributor List" and TOP33 on the "2024 Global TOP50 Electronic Component Distributor List".

Taking quality as the cornerstone of service, Chuangshi Technology is expanding its business scope through various cooperation methods in 2024. Firstly, it is creating a specialized service chain that provides customers with more professional solutions, technical support, and after-sales service; Secondly, further deepen digital management and utilize big data and AI technology to improve the transparency and efficiency of the supply chain. For large clients who have already established stable cooperation, Chuangshi Technology has also developed many measures to provide value-added services, such as stocking system, payment terms, Discount Rebate Program, Incremental Business Agreement, and more.

Secondly, it is important to have a correct understanding of the competitive advantages and challenges of domestic distributors in the international market. The head of Chuangshi Technology believes that currently, domestic distributors have not yet formed a brand advantage in the international market. However, thanks to the lower production costs brought by the mature industrial chain synergy in China, domestic distributors can provide more price competitive products to the industry, thus having certain cost advantages. However, opportunities and challenges coexist, and low brand awareness remains a common weakness for domestic distributors. Market access will inevitably be difficult, and it is even more necessary to understand and comply with the rules and standards of different international markets.

In addition, to expand overseas business, talent reserve is a difficult problem that cannot be ignored. The head of Chuangshi Technology said, "Chuangshi Technology already has some international talents, and in the future, it still needs to attract more talents to expand overseas customers.

It is reported that Chuangshi Technology has established branch offices in Hong Kong, Shenzhen, Zhuhai, Wuhan, Changsha, Ningbo, Singapore, Shanghai, Taiwan, and Malaysia, and has offices in some major economies in Asia such as Japan and South Korea to serve local and surrounding markets. In addition, Chuangshi Technology has also established some cooperative institutions in countries such as the UK and France, using them as the "tentacles" of European business to serve the market.

In the future, Chuangshi Technology plans to further expand its new branches to Vietnam, Thailand, the Philippines, Indonesia, and India, and expand overseas business by strengthening cooperation with local enterprises. It also plans to establish branches in North America to enhance its services to the North American market.

This participation in electronica 2024 is the first announcement to the industry that Chuangshi Technology aims to go global! The semiconductor industry is becoming increasingly competitive, but there is still great potential in overseas markets. Taking 2023 as an example, the Asia Pacific region represented by China (excluding Japan) accounts for 54.5% of the global semiconductor consumer market, but this also means that there are nearly half of the market outside of Asia. In the future, the electronic component distribution industry will also present a more intense competitive landscape. Through high-quality overseas exhibitions, Chuangshi Technology hopes to bring communication distance with overseas customers up close, and also hopes to expand more international partners, share market resources, supply chain resources, etc. with them, and work together to explore new market areas and expand business scope.

About Chuangshi Technology

Shenzhen Cytech Systems Limited - "Excellent Distribution, Connecting the Future", is a leading electronic component distributor deeply rooted in China and radiating globally, committed to creating sustainable value for customers and promoting innovation and development in the supply chain industry.

Chuangshi Technology was jointly founded by senior professionals in the electronic information technology and supply chain distribution industries. With decades of industry experience in the electronics industry chain, it connects global supplier networks and becomes a powerful support for high-quality sources of goods. Through diversified procurement services, it provides personalized, customized, agile, and high-quality supply chain solutions to thousands of customers in more than 50 countries, including Fortune 500 companies. While helping customers optimize costs and improve efficiency, it grows together with customers to achieve win-win results.

This is reported by Top Components, a leading supplier of electronic components in the semiconductor industry

They are committed to providing customers around the world with the most necessary, outdated, licensed, and hard-to-find parts.

Media Relations

Name: John Chen

Email: salesdept@topcomponents.ru