The company will continue to focus on its core businesses in the farming and in the consumer markets. For its agriculture business, Deyu said it intends to streamline its operations by reducing the number of partners involved when it comes to trading with parties within the value chain from farmer to end customer.
The company said it believes such changes will be possible as a result of the implementation of a digital, on-line tool that will create scalability and efficiency. The tool will soon be introduced as well as the creation of new sourcing and sales teams.
"We believe that these initiatives will provide a valuable platform for sustainable growth in a market that continues to be more and more challenging," said Greg Chen, chief executive officer of Deyu. "And we have confidence that the company can compete more effectively with our new digital operational approach."