Company Profile
The predecessor of Geshini Electric Appliances was Cixi Jitong Electric Appliance Factory, which was established by three people as a partnership with a total capital of only 200,000 yuan. In 2009, with no technology, no sales team, no funds, and only a small house of 100 m2, bet on the electric faucet. However, unreasonable mold design and R & D defects led to big loss in the first year.
Due to continuous losses, the company could function normally. In May, 2013, two other shareholders withdrew from the company. At that time, Gasny owed about 5 million yuan to the supplier, plus some bank loans, and had a debt of more than 7 million yuan. I could only sell the original inventory to repay part of the supplier's payment.
On August 15, 2013, I borrowed 50,000 yuan and opened an online store selling instant water heaters on Tmall Mall, starting my e-commerce career.
By May 2014, the sales volume of my store on Tmall Mall ranked first in the industry.
In 2015, due to product quality problems, the store was cleared by Tmall. I tried various ways to appeal to Tmall, but to no avail. I felt helpless, because Gasny’s sales channel is only Tmall then.
In order to tide over the difficulties, most of the company's employees were let go. Immediately afterwards, Gasny focused on improving workmanship and enhancing quality control. During the period, I continued to negotiate with Tmall, and finally in the second half of 2016, my online store reopened. By then, my factory had been shut down for 8 months.
From the end of 2016 to the first half of 2017, Gasny's sales of instant water heaters returned to the top of the list. Considering the small size of the water heater market, Gasny began to seek new profit growth points.
At that moment, an Indian Customer who was buying instant water heaters told our boss that ice maker was a good business. Our boss was quite cautious. But after seeing the partial mold fee given by that Indian customer, our boss was confident with that business. Gasny invested considerable energy and funds in the development of ice makers.
In May 2017, Gasny moved to the newly rented factory, introduced new equipment, and the ice maker was officially put into production.
However, just 5 months after the ice maker factory started, a fire happened in the factory caused Gasny to be in debt of more than 17 million.
Gasny remained tenacious and resolved the crisis. From 2018 to 2019, successively cooperated with Changhong, TCL and other brands. Their advantages in production experience and quality control had helped Geshini transform from negative equity to a healthy development enterprise.
In the following one or two years, Gasny established cooperation with more first-line brands, such as Philips, Joyoung, Coca-Cola, etc... The sales volume of Gasny ice machine ranks in the top 5 in China, and the sales volume of water heaters ranks top 1.
On 9th Jan. 2024, Gasny's 80,000 m2 new factory Jiujia Refrigeration (Lu An) CO., Ltd entered into service the application of advanced equipment, the continuous investment in R & D and the introduction of senior talents, we will strive to rank among the top 3 in the industry in the next three years. And water heater remains top 1. Gasny's future must be brighter.