Our agency-based sourcing services, in which we act as a strategic sourcing partner to our customers under long-term contracts, represent a significant part of our trading business. Under our agency sourcing arrangements, we provide strategic sourcing services to our customers, such as product development and costing, factory compliance, order processing, manufacturing control, and logistics. To enhance our customers' competitiveness, we also provide trend forecasting, market analysis, industry intelligence, raw material procurement, and strategic insights on the global supply chain to help our customers procure high quality products with short lead time and speed to market.

In our product-focused principal trading business we act as a principal supplier to our customers, operating primarily on a merchandise program-by-program basis; where the terms of each order are mutually agreed on a per program basis. We are continuing to develop our product expertise and move deeper into product verticals to solidify our leadership position in specific product categories.