INNOVATION AND WIN THE FUTURE
With the approaching of New Year 2020, on behalf of the Board of ZMJ Group, I would like to express our sincere greetings and best wishes to all the ZMJ members and their families all over the world!
2019 is a great year worth remembering for ZMJ Group. On 17th September, China President Xi Jinping visited ZMJ and confirmed our past achievements in profound reform, transformation and development. He also encouraged us to continue our work by technological and industrial innovation and march from low-mid end to high-end on the global industrial chain.
In 2019, each business sector of ZMJ achieved hard-won results despite the complex situation of globally increased risks. Several operating and financial indicators of coal mining equipment sector reached a new record high. We have achieved progressive results in performing our strategy of providing complete longwall equipment solution and intelligent mining system. The high-end longwall coal shearer was successfully developed, longwall intelligent mining system gained unprecedented market share. ZMJ is now competing on the global market as an industry leader. With the rapidly declining market environment, the Auto parts sector has been working even harder and focusing on accelerating internal transformation. ASIMCO's major operating companies experienced busy times both in production and sales and some principal subsidiaries even achieved growth against the declining market trend; SEG has been actively transforming itself by leaning its structure. The 48V BRM production started to ramp up and the R&D center for new energy vehicle motors has laid its foundation in Changsha.
In the coming year, challenges and opportunities will go hand in hand and transformation and innovation will remain as the main theme of the company's development. In 2020, we will start a new round of work in reform, globalization, and intelligent system transformation and upgrading. We will also further enhance the in-depth integration and development of multiple sectors, transformation of manufacturing methods and optimization of efficiency and quality. The coal mining equipment business should accelerate intelligence system and lead the industry's advancement with innovative longwall mining technologies. The automotive parts businesses should stand by its belief during the difficult period, actively investigate the development trend of electrification, and drive new business growth by constant innovation. Embrace the wave of electrification by energetically pushing the research and development of 48V products and new energy electric drive systems.
I hope every ZMJ member will bear the attitude of Start-from-Zero, be full of enthusiasm without any devotion and commit ourselves in the manufacturing industry. I firmly believe all of us in ZMJ will actively embrace changes, adhere to the pace of reform, lead the technology innovation and push forward the globalization with a more open attitude. We shall continue to optimize and improve our corporate governance structure at all levels and lay a solid foundation for the long-term high-quality development of ZMJ Group.
Let all of us work together for a better 2020!
Chairman Jiao Chengyao
December 31, 2019