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ADAYO Group signed a strategic cooperation agreement with CITIC Insurance.
Time of issue:
2014-01-14
Recently, Foryou Corporation signed a comprehensive strategic cooperation agreement with the Guangdong Branch of China Export &
Recently, Foryou Corporation signed a comprehensive strategic cooperation agreement with the Guangdong Branch of China Export & Credit Insurance Corporation (referred to as 'Sinosure'). According to the agreement, ADAYO and Sinosure will fully utilize their complementary advantages in branding, funding, technology, and management to jointly explore strategies for independent brands to 'go global' and actively promote the global strategic development of ADAYO.
Foryou Corporation which focuses on automotive electronics, optoelectronics, and communication components, is the only automotive parts company in China selected as one of the top 500 Asian brands. Since 2012, Huayang has intensified its efforts in brand establishment and promotion, using the ADAYO brand as an opportunity to maintain its market share in developed markets such as Europe and the United States while actively exploring emerging markets. ADAYO's in-car audio and video, dash cameras, LED lighting, and mini projectors have achieved impressive business performance and are continuously developing positively.
The cooperation between ADAYO and Sinosure has lasted nearly nine years. During this period, Sinosure has played a significant role in supporting ADAYO's expansion into international markets. With the signing of this comprehensive strategic cooperation agreement, Sinosure will provide ADAYO with more comprehensive and in-depth cooperation, including credit management, risk protection, financing convenience, overseas investment insurance, and risk management consulting services. Sinosure will act as a loyal partner and strong backing for Huayang Group, assisting in building overseas business risk management and financial operation platforms, and supporting national enterprises to become world-class companies. At the same time, this also signifies that Foryou Corporation will rely on credit insurance to explore international markets, prevent overseas risks, and ultimately achieve sustainable and healthy development of the company's overseas business, fulfilling Huayang's global strategic goals.
Sinosure is the only policy-oriented insurance company in China that handles export credit insurance business. Its main task is to actively cooperate with national policies in diplomacy, foreign trade, industry, finance, and other areas, using policy-oriented export credit insurance methods to support the export of goods, technology, and services, and to support Chinese enterprises in investing overseas, providing risk protection for enterprises expanding into international markets.
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