Zhang Hui, president of Tengchuang Technology, told local media that the company has gained over CNY100 million in investment from Legend Capital, an independent venture capital subsidiary of Legend Holdings Ltd.
Founded by Lenovo Group's former senior vice president Yu Bing, Tengchuang Technology is a professional information technology retail chain supplier in China. With the over CNY100 million investments from Legend Capital, the company plans to open 1,000 specialty stores in the next three years.
Tengchuang Technology has recently opened its first Lenovo flagship store in Shanghai. Unlike Lenovo specialty stores opened by local distributors, Tengchuang Technology's Lenovo specialty store is divided into two parts, including a product display area on the first floor and a discussion area on the second floor. The store also makes some innovations in store design and marketing.
Zhang said Tengchuang Technology has set up branches in Guangzhou, Dongguan, Hangzhou, Nanjing, Shanghai, and Beijing; and the company will implement acquisitions in more Chinese cities to complete its distribution across Chinese mainland in the next year. At present, Tengchuang Technology has opened over 90 chain stores. Apart from large specialty stores, the company plans to open stores in communities in the future to provide one-stop IT sales and service solutions to consumers.