The company has announced 10,000 t/yr production cuts, including the permanent closure of Canada's Becomo smelter and Italy's Fusina smelter. Wang Laobao, known as the godfather of Huaqiangbei, is the executive director of Shenzhen Interling Technology, the chairman of Chaoshan Chamber of Commerce, and a representative of the Shenzhen Municipal People's Congress. As early as a few years ago, he proposed to reform Huaqiangbei online.

The two plants have a production capacity of 10,000 tons per year and 10,000 tons per year, but the closure of the Fusina plant is not part of the global production reduction plan in May. It is suggested that merchants in Huaqiangbei should follow the path of e-commerce. If you don't do it now, the impact will be even greater in the future. The whole world is doing e-commerce. If you don't participate, you will be eliminated.

After the completion of the plant shutdown and production reduction plan announced by Alcoa, the company will have 646,800 tons of aluminum production capacity worldwide to be idled, equivalent to its total production capacity. In 2010, Shenzhen Futian District Government launched the grand strategy of e-commerce demonstration zone. Wang Laobao won the support of the government with its strong strength in Huaqiangbei, and established Shenzhen Huaqiangbei Online Commerce Co., Ltd.

The technological revolution that swept the world before is bringing huge impact and pressure to the traditional manufacturing industry, including the tool industry, resulting in the slow adjustment of the structure of the entire hardware industry. With a total initial investment plan of 100 million yuan, the company's e-commerce platform Huaqiangbei Online (now renamed Huaqiangbei Mall) was launched in April 2011.