Guoheng Industry and Trade: Innovative product research and development to expand overseas markets

Guoheng Industry and Trade Co., Ltd. is a newly emerging massage chair R&D and sales enterprise in Fu 'an City. In just a few years, relying on product innovation and upgrading as well as in-depth expansion and cultivation of overseas markets, its cross-border e-commerce business has grown from nothing to something, and from something to excellence, maintaining a high growth rate.

On this day, at Guoheng Industry and Trade Company, Guo Jianping, the person in charge of product supply chain management, was debugging the QR code payment function of a massage chair product. It is reported that the company was originally an assembly and manufacturing enterprise of massage devices, with a small scale and low efficiency. In 2019, under the guidance and support of relevant government departments, it transformed into a massage chair product research and development and cross-border e-commerce business, rapidly entering an upward channel. The SY-3 massage chair in front of us is the latest self-developed product of the company and has been highly favored since it was launched on the market.

Guo Jianping, the person in charge of product supply chain management of Fu 'an Guoheng Industry and Trade Co., LTD.
We launched this product in June. Up to now, the customer feedback has been very good. The orders have increased by two to three times compared with previous years. Although mobile payment has been fully popularized in China at present, many countries abroad still prefer to use cash for consumption. Therefore, when merchants operate commercial massage chairs, they mostly adopt coin-operated models, which leads to the problem of inconvenient cash management and makes it difficult to expand the scale.

Ye Wenhui, General Manager of Fu 'an Guoheng Industry and Trade Co., LTD.
Many business owners are unable to expand their business scale. They may only be able to place three or four chairs nearby and cannot make cross-provincial or cross-regional investments because they are all filled with cash.

For this reason, the product launched by Guoheng Industry and Trade Company retains the cash payment function while upgrading the Internet of Things management and QR code payment functions.

Ye Wenhui, General Manager of Fu 'an Guoheng Industry and Trade Co., LTD.
With the background management function of this APP, by leveraging the Internet of Things (iot) capabilities, our clients will be able to expand their businesses more and more, and it will also be more convenient for them to manage. Most importantly, they don't have to worry about their funds being misused.

Guo Jianping, the person in charge of product supply chain management of Fu 'an Guoheng Industry and Trade Co., LTD.
We have also made an update this year, which is to realize QR code payment, including overseas QR code payment. By solving this most difficult point, customers can place massage chairs infinitely in the local area. There is no need for personnel to go to the customer's place to collect the money. The money can be directly credited to the customer's card, which is also convenient for management.

We have solved the problem of foreign customers operating shared massage chairs. The sales of this product have been on the rise. Since June, more than 600 units have been sold overseas. Currently, the orders are still increasing continuously.

Guo Jianping, the person in charge of product supply chain management of Fu 'an Guoheng Industry and Trade Co., LTD.
At present, the competition in the massage chair industry is extremely fierce. Therefore, our company takes intelligence as the core to develop an intelligent massage chair, which can bring the best experience to customers. This is a very competitive advantage in the future and also a development direction of our company.

By tapping into the cross-border e-commerce market with intelligent manufacturing products, Guoheng Industry and Trade Company has developed at an astonishing pace. The overseas e-commerce sales of the product have grown from zero in 2019 to 60 million yuan last year. The sales in the first three quarters of this year have already reached the total of last year, and it is currently moving towards the annual target of 120 million yuan.

Guo Jianping, the person in charge of product supply chain management of Fu 'an Guoheng Industry and Trade Co., LTD.
This year, we will implement QR code payment in all other countries, such as Vietnam and the Philippines. Our plan is to connect all the payment systems in the more developed countries around the world from 2023 to 2024. In this way, there will be a lot of room for customer development.

Ye Wenhui, General Manager of Fu 'an Guoheng Industry and Trade Co., LTD.
Combining the maturity of the currently very popular AI technology, we can actually make some products better and lower their prices. Currently, there might be some leading companies in our industry doing this, but their costs could be around 50,000 to 60,000 or even 70,000 to 80,000 yuan. So, we hope to create an intelligent massage chair with a market selling price of 7,000 to 8,000 yuan. We are still very confident that we can truly enter all users' homes in the future.