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Congrats! Ching Chan President Alex Wu is Awarded “2015 Model of Entrepreneurs”
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2015-12-23
Compiled by Tanya Shih, Fastener World Inc.
President Alex Wu of Ching Chan Optical Technology Co., Ltd. has just received the honor as the 38th Model of Entrepreneurs presented by Taiwan Vice President Wu Den-yih on Dec. 9th.
Ching Chan was incepted in 1992 by President Wu with the total investment of NT$200 thousand. Over the past 23 years, Wu with passion and innovation spent all his time in the betterment and operation of the company and led Ching Chan to become a leading company of vibratory feeders, automatic packing systems, and optical nut sorting machines, which helped Taiwanese brands gain their own presence in the international stage.
Many years ago, screw sorting machines used by Taiwanese companies were all imported from USA, Europe, and Japan and they were very expensive. Wu, who noticed this phenomenon and emphasized the importance of R&D and self-owned technology, developed the first sorting machine made in Taiwan with good quality and a lower price, which was for reducing the cost of full inspection and was then highly recognized in the market. This machine later became an alternative for similar imported products for Taiwanese users and was sold to over 30 countries around the world including USA, the EU, and Japan. Some customers were also world leading fastener companies and the machine was also very popular in Germany.
In fact, Ching Chan’s sorting machines have been honored by the 16th and 21st Taiwan SMEs Innovation Award of Ministry of Economic Affairs of Taiwan and Chinese Hi-tech Enterprise Certification and have been credited to the no.1 in the “top 25 Best Products in U.S. Fastener Market”. In the first 10 months of 2015, its revenue reached NTD0.568 billion (higher than the NTD0.547 billion revenue in 2014). Its annual revenue is expected to reach NTD0.7 billion (a growth margin of over 25%).
When Ching Chan gained a firm presence in its sorting machines business, it kept moving forward to gain more share in the fastener machines market in the upstream fastener industry. In 2014 it started the R&D and production of fastener formers and it has developed a high-speed model that can produce 400 pieces per min., 60% faster than other competitors’ models. The machine is equipped with pressure sensing device and is able to control quality from the very beginning of manufacturing for penetrating into the global market.
Ching Chan is headquartered in Hunei Dist. of Kaohsiung and has operations in Taiwan (Taoyuan and Taichung) and China (Kunshan, Dongguan, Chongqing, Ningbo, and Wenzhou). For creating a better future for the company, Ching Chan is also planning to be traded in the market or over the counter, but it won’t be traded over the counter until the 1st quarter of 2016 at the earliest.
The current product portfolio of Ching Chan includes First Article Quality Inspection Reporting Machine, Forming Machine, Optical Sorting Machine, etc., which can be used to provide technical support for quality control over manufacturing processes, forming, and finished products. Wu’s first and foremost vision is to protect the reputation of Taiwan being the Kingdom of Fasteners. He hopes that the existence of Ching Chan can make some contributions and help Taiwanese fastener industry go toward a sustainable and prosperous future.
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