After nearly 30 years of operation, the Dongguan Chang’an Town “Kingbo Electronics”, a historical factory in China, officially ceased production and dissolved on November 18. At its peak, the factory employed over 10,000 workers and was once ranked among the top ten exporting companies in Dongguan. Rumors about the factory relocating to Thailand had been circulating for a decade.
Renowned blogger “Ark Impressions” recently posted a video message on WeChat confirming that with the last group of employees receiving their N+1 compensation, the closure of Kingbo Electronics in Dongguan Chang’an Town was finalized on November 18.
Furthermore, blogger “Ying Dian” also verified this news. Kingbo Electronics China Limited, once a factory with thousands of employees, shut down on November 18 and moved to Thailand. Major factories in Dongguan Chang’an such as Kingbo, Guangbao, Pusi, Fujitsu, Xingang Shoe Factory, and Fuan Printing and Dyeing no longer exist.
In fact, the relocation process of Kingbo Electronics had been ongoing for over a decade. As early as the 2015 National Day holiday period, their Phoenix factory silently moved its production line to Thailand, resulting in over 3,000 sudden job losses and causing a significant stir.
Public records show that this company, belonging to the Taiwanese Kinpo Group, rooted itself in Chang’an Town in 1996 with a total investment exceeding 100 million US dollars and occupying a factory area of 170,000 square meters. From calculators and electronic keyboards to satellite locators and printers, Kingbo Electronics continuously supplied supporting products to global brands like HP, Dell, and Canon. At its peak, the factory employed over 10,000 workers and was once among the top ten exporting companies in Dongguan.
Due to the serious global economic conditions and pressure from the US on China’s trade, the manufacturing industry in Guangdong is rapidly contracting.
On June 30th of this year, the Nanhai Lighting Factory in Foshan City issued a public letter to inform suppliers and customers that due to “international circumstances, economic downturn, and other factors affecting the inability to continue operations”, they decided to cease operations immediately. This lighting factory has been active in international lighting exhibitions since the last century, known for its stable overseas customer base and excellent quality.
Additionally, on June 25th of this year, Celestica Group’s Tianhong (Dongguan) Technology Co., Ltd. announced the dissolution of the company, stating that the dissolution process would commence by the end of June and all labor contracts with employees would be terminated starting from July 1.