Highlights Put Forward by LOVOL at Its 2009 Economic Working Conference:Foundation Consolidation, Business Adjustments and GlobalizationLOVOL successfully held its 2009 economic working conference on January 16. At the conference, Cui Taikui, the company¡¯s Party Secretary and General Manager, first conveyed to the participants the important spirit of the speech on "Continuous Improvements, Excellence Pursuit, Personnel Cultivation and Extraordinary Center Build-up"delivered by General Manager Wang Jinyu at Foton Motor Company¡¯s 2009 economic working conference held on January 13-14, delivered a work report entitled"Foundation Consolidation, Business Adjustments, and Globalization", offered a brief summary of the company¡¯s operations in 2008 and presented the business development while putting forward operation policies and strategies for 2009 in accordance with the current macro-economic conditions. Wang Meichen, Vice General Manager of Foton Motor, specially attended the conference and made an important speech. The conference was presided over by LOVOL¡¯ Executive Vice General Manager Lv Jie, with over 440 representatives present at the conference, including the company¡¯s executives (middle-level or above), workshop shift/team leaders and excellent employees.
At the conference, the company¡¯s Vice General Managers Li Fangcheng and Hu Zhongjun and Marketing Company Manager Feng Yufen delivered work reports on the business they are responsible for. High performance teams and groups, 13 groups of excellent employees and 49 individuals in 2008 were honored at the conference following the delivery of reports.
Cui Taikui, LOVOL¡¯s Party Secretary and General Manager, delivered a keynote report entitled"Foundation Consolidation, Business Adjustments and Globalization":The report of General Manager Cui Taikui was divided into three parts: brief description of operations in 2008, business development in 2008 and guidelines, objectives and strategies for 2009.
Mr. Cui indicated based on the 2008 operation guidelines "strengthening basic management, improving working efficiency; driving technical marketing, achieving better and rapid development", LOVOL will continue its passion for innovation to meet challenges, continue double-driven technical marketing and intensive growth, and enhance capacities. The company has also set down its operation guidelines for 2009:
Foundation Consolidation, Business Adjustments and GlobalizationLOVOL needs to reinforce its current operation management while beginning to work on its overall development strategies for 2009 and detailed project schedules, despite increasing pressure from the exterior environment and extremely uncertain market conditions.At the end of his report, general manager Cui Taikui called on the company¡¯s all staff to meet challenges in a passionate manner, enhance their own skills to build competitive advantages, so as to help the company continue its solid development in international markets by adjusting business directions and management structure. The overall market conditions may still be challenging during a period of 2009, and under this circumstance, it is more necessary to focus on these aspects: strengthening the construction and conservation of various capacities, enhancing competitiveness in products and management, effectively capturing all market opportunities, maintaining the growth momentum, reinforcing the basic management, adjusting the overall business structure and management operation models of internal systems and continuing intensive growth.
Abstract of the speech of Foton Motor¡¯s Vice General Manager Wang Meichen at the 2009 economic working conference:
At the conference, vice general manager Wang Meichen first analyzed the economic conditions in 2008, summarized various achievements attained by Foton amid the current macro-economy, and commented on LOVOL¡¯ efforts throughout the whole year. He then detailed Foton¡¯s advantages in the current macro-economic conditions and its active and effective strategies, raising the confidence of all staff in facing any challenges in 2009. Finally, he proposed several requirements for work:
Speeding up product development and construction of LOVOL¡¯ new plants. Corporate competiveness is built on the basis of product competitiveness as products are the core of enterprises. Facing the financial crisis, we should accelerate rather than cease the development of products, especially the strategic products while speeding up our investment and capacity construction. As a result, we will focus on new product development and the construction of new plants in 2009.
Strengthening personnel cultivation plans. The competition among enterprises has become competition among talents or "soft strength" competition rather than competition in tangible assets. The core of soft strength is human resources and the cultivation of human resources is endless. As the saying goes, it takes ten years to grow trees, but a hundred years to rear people, as a result, personnel cultivation is surely one of the most important tasks of an enterprise. The success of Foton lies in its success in human resource management achieved over the past years.
Enhancing management capacity. Management of our organization is critical as the focus of management that comes without border is organizational management, with personnel as the management¡¯s basic element, and the key to use high quality personnel is management.
Graphite and diamond, for example, have the same basic element: carbon, but they differ materially in performance as a result of their different structures. That¡¯s the value of organizational management.
Expanding TPS promotions and lean production. We will constantly promote TPS, a continuously improved method and concept use to establish systems for lean production, so as continue to improve our product quality and enhance costs competitiveness.
Improving product quality. Quality is the foundation of both the market and competition.
Intensifying cost control. A newcomer can exceed the ancient one mostly thanks to its stronger cost competitiveness and lower price-to-performance ratio, judging from the historical perspective of the national and corporate development. As a newcomer, we aim to build our comprehensive competitive advantages in products through relentlessly pursuing low costs.
All staff¡¯s participation in the improvement of corporate culture. We must start with ourselves, with now and with the current work in our hand to improve every little bit. The establishment of the culture will help boost the growth of a high performance company. Accordingly, the key to competition among modern enterprises lies in the ability to learn and grow, and the same is true of an individual.
Vice General Manager Wang Meichen expressed his hope at the end of his speech: opportunities and challenges co-exist in 2009, we will work together with Foton¡¯s executives and employees to achieve our goals for 2009. He also wished for a Happy New Year to LOVOL¡¯ all staff, saying Happy Spring Festival to them.
