Page 12 - TYCONS - ANNUAL REPORT 2022

Tycoons Worldwide Group (Thailand) Plc.

2. Target customers

A. Wire rod and annealed wire:
TGE is the biggest customer by exported wire rod and annealed wire.
In other countries, the product is sold to steel manufacturers.

B. Fastener:
Major customers are overseas distributors, trading companies,
and hypermarkets.

3. Distributor

TGE is the distributor in charge of Taiwan market, while TYCN is in charge of
other overseas market. TYCN promotes its products by advertising on magazines
and journals, and participating in international exhibitions.

4. Market positioning

A. Wire rod and annealed wire:
The exported wire rods and annealed wired are classified as high-quality and
high-value products such as CHQ and low alloy products which are major
materials used for fasteners and auto parts.

B. Fastener:
TYCN is a professional fastener manufacturer providing a variety of fasteners
and satisfying customers’ need of one-stop purchase.

Customer satisfaction
The company evaluates customer satisfaction on each product in the beginning of
each year. In terms of the valuation of customer satisfaction in 2022, the company
set the score of no less than 80 for service quality, product quality, and delivery
process. Overall, every product passed the evaluation.

2.2 Market and competition

Dumping and Capacity cut of China
As China's economic growth slowed down. In recent years, steel production capacity
has been expanded too much, coupled with the China's government's policy to
incentive exports, causing dumping of steel products from China to the world
Fortunately, China canceled its export tax rebate program for steel products in May
2021, greatly reducing the competitiveness of Chinese steel prices.
In the future, under China's "Carbon Double" emission control target policy, China

aims to peak emissions by 2030 and achieve carbon neutrality by 2060. It will continue

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