CCSC Technology appoints new chief strategy officer



Hong Kong – CCSC Technology International Holdings Limited (Nasdaq: CCTG), a manufacturer and designer of interconnected products, announced the appointment of Mr. Jung Yi Chiu as its new Chief Strategy Officer, effective May 1, 2024. Since joining the company in August 2018, he brings more than thirty years of experience in the electronics industry to his new position.

Prior to his promotion, Mr. Chiu served as the Development Strategy Officer at CCSC Technology, where he was responsible for leading Industry 4.0-related projects and new business development initiatives. He has held senior positions at Kenmec Group and AVC Thermal Cooling Corporation, both of which are listed on the Taipei Stock Exchange. Mr. Chiu's expertise spans sales, marketing and business development, with a focus on strategic initiatives and innovation to drive growth and profitability.

In his new role, Mr. Qiu will be responsible for strategy development and management, leading strategic initiatives designed to promote the company's growth and profitability. Mr. Kung Lok Chiu, CEO and Director of CCSC Technology, is confident in Mr. Chiu's ability to promote the company's strategic vision.

CCSC Technology specializes in customized interconnect products such as connectors, cables and wire harnesses to meet the needs of various industries including industrial, automotive, robotics, medical equipment and telecommunications. The company serves a diverse global client base in more than 25 countries across Asia, Europe and the Americas.

This announcement is based on a press release statement.

Investment Professional Insights

As CCSC Technology International Holdings Ltd. (NASDAQ: CCTG) welcomes Mr. Jung Yi Chiu as its new Chief Strategy Officer, investors are paying close attention to the company's financial health and market performance. According to the latest data from InvestingPro, CCTG has a market capitalization of $26.64 million, which reflects the company's size and market capitalization. Despite challenges with revenue growth, which fell 44.11% in the past 12 months to the second quarter of 2024, the company's gross profit margin remained stable at 29.54%, demonstrating its ability to maintain sales profitability.

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InvestingPro Tip highlights that CCTG currently holds more cash than debt on its balance sheet, which could provide financial flexibility for Qiu's strategic moves. Additionally, the company's valuation implies a strong free cash flow yield, indicating the potential for investor returns. Potential investors should note, however, that CCTG's shares experience significant price fluctuations, which may impact investment decisions.

For those interested in a more in-depth analysis, InvestingPro provides additional insights and metrics on CCTG, including a comprehensive look at the company's financials, performance, and market trends. To explore these further, please visit https://www.investing.com/pro/CCTG.And for a limited time use the coupon code PRONEWS24 Enjoy an additional 10% off with annual or annual Pro and Pro+ subscriptions, which includes access to even more valuable InvestingPro Tips – currently more than 6 for CCTG alone.

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