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Summing Up the First Quarter: Striving to Achieve Over Half in Both Key Metrics — Lixing Technology Holds First-Quarter Economic Performance Analysis Meeting
Release time:
2024-05-20 00:00
To review the first-quarter production and business performance and to mobilize and deploy work for the second quarter, Zhejiang Lixing Technology Co., Ltd. held a first-quarter operational analysis meeting on May 20. The meeting was attended by Chairman Bao Suchun, General Manager Bao Yulian, relevant personnel from the Group’s functional departments, general managers and deputy general managers of the subsidiary companies, as well as employee representatives. All subsidiaries participated via remote video conferencing.
The meeting concluded that, thanks to the concerted efforts of all levels of the company in the first quarter, all tasks were advanced smoothly in accordance with the guiding principle of “seeking progress while maintaining stability and achieving success through proactive initiative,” resulting in an overall trend of stabilization and improvement. Nevertheless, challenges remain, such as lackluster growth in the company’s core businesses. At present, the broader economic environment is generally on a downward trajectory. To ensure the successful completion of the year’s objectives, all employees must not only cultivate a strong sense of crisis but also maintain unwavering confidence, strive for continuous progress, transform pressure into motivation, and turn passivity into proactivity.
The meeting emphasized that the second quarter is a crucial transitional period that builds on past achievements while paving the way for future progress. All subsidiaries and departments must remain steadfast in their resolve, boost morale, eliminate all distractions, and devote their time and energy to driving business operations and development as well as advancing project construction. They should focus on “stability,” “precision,” “speed,” and “pragmatism” to make all-out efforts to overcome challenges in the second quarter, ensuring that by mid-year both time and targets are more than halfway achieved, thereby laying a solid foundation for fulfilling the year’s overall objectives. “Stability” means maintaining market stability and steady growth. These two pillars are key to achieving the goal of “more than half the time, more than half the tasks” in the second quarter; therefore, market sales must concentrate on critical links and strive to open up new market opportunities. “Precision” refers to refined operations and precise production. The primary objectives of strengthening production management should be cost reduction and efficiency improvement, balanced production, and ensuring the safe and efficient operation of production facilities. Particular attention should be paid to hydrobromic acid, cobalt–manganese products, and antimony ethylene glycol, with thorough market analysis and assessment. In raw-material procurement, production, transportation, and delivery, it is essential to accurately identify waste points and bottlenecks in the production process, implement targeted improvements to production and delivery workflows, and optimize or eliminate non-value-added activities, processes, and products—all with the aim of building core product competitiveness and achieving significant cost reductions and efficiency gains. “Speed” means accelerating the pace of the company’s IPO and speeding up project construction. All units and departments must provide full support for the company’s IPO, actively cooperate with specialized agencies to complete all related tasks, and work together in a spirit of unity and collaboration to ensure the smooth and efficient advancement of the IPO process. “Pragmatism” means practical management and a down-to-earth work style. All departments and subsidiaries should proactively plan and execute their work, consistently embodying the “nailing-it-down” spirit—going beyond routine, step-by-step execution. They should always “think ahead, take the lead, and act first.” Management at all levels must engage in continuous learning, adhere to rules and regulations, strive for excellence, and demonstrate a strong sense of responsibility.
During the meeting, heads of the Group’s functional departments and subsidiaries, as well as those responsible for specific areas of work, delivered reports focusing on the first-quarter performance in production and operations, safety and environmental protection, market development, internal control management, technological innovation, and progress on key projects.
Chairman Bao reviewed the Group’s business operations and issued directives: currently, sales of hydrogen bromide–acetic acid solution and cobalt–manganese acetate solution are performing poorly, necessitating that the Marketing Department intensify market development efforts and promptly adjust sales strategies in response to market dynamics. In addition, greater emphasis should be placed on market initiatives in Hainan, with internal sales staff ensuring timely compilation of supply data for Hainan-based customers and prompt follow-up on bidding activities for new Hainan clients.
After listening to the reports from all attendees, General Manager Bao analyzed and evaluated the key priorities of each department within the Group and its subsidiaries. She noted that overall performance in the first quarter remained broadly stable compared with the same period in 2023, and emphasized that middle-level managers must shift their mindset, cultivate a spirit of resilience and hard work, and prioritize delivering strong results, ensuring safety, and strengthening internal controls. In terms of sales, it is essential to enhance market awareness, promptly assess market conditions, and make timely adjustments to sales strategies and pacing. On the safety front, rigorous prevention and stringent oversight are required, along with robust internal control management, to ensure the efficient and orderly advancement of all safety-related initiatives, effectively elevate risk-prevention capabilities, and prevent any accidents of Grade II or above as well as equipment-related safety incidents and environmental pollution incidents. With regard to the company’s planned IPO, all units and departments must provide full support, actively collaborate with specialized agencies to complete all assigned tasks, and work together in a coordinated and efficient manner to ensure the smooth progress of the IPO process. In project development, efforts should be fully concentrated on advancing the Hainan project and the Lixing technology-upgrade project, ensuring timely completion according to schedule and striving for early commissioning, while also maintaining strict cost control. In R&D, the focus should shift from single-product offerings to a diversified product portfolio, with increased investment in research and development, broader innovation in R&D approaches, and accelerated development of new materials and catalysts for new-energy applications, all while making comprehensive preparations to underpin the company’s stable and sustainable growth.
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