Yuegong Holding Group Held a First-Quarter Economic Performance Analysis Meeting.

Release Date:

2013-04-22 08:15

On the morning of April 10, Yuegong Holding Group convened a first-quarter economic performance review meeting in Shaoxing, Zhejiang. Attending the meeting were Chen Bailiang, Chairman of the Board; Ren Qiliang, President; and group executives Jiang Jinlong, Dong Feng, Hu Zhichang, Fang Yaqian, Jin Fei, Tang Genmei, and Ruan Zhongsheng, along with heads of each subsidiary and departmental leaders of the group. The meeting was chaired by Dong Feng, Vice President of the group.

At the meeting, the heads of each subsidiary reported on the progress of key economic indicators for the first quarter, analyzed existing challenges, and outlined plans for the second quarter, setting forth specific targets and corresponding measures. Meanwhile, the Group’s Finance Department conducted a financial analysis of the economic performance of both the subsidiaries and the Group as a whole for the first quarter.

After hearing reports from each subsidiary at the meeting, Group President Ren Qiliang delivered a speech, reviewing the economic performance of the first quarter: First, in terms of economic indicators, the Group as a whole maintained stability and got off to a solid start. Notably, two steel‑structure companies posted double-digit production growth, with the Shandong company reaching an all-time high. Second, from a corporate mindset perspective, the Group has demonstrated a spirit of encouragement, upward momentum, and vigorous striving—less complaining, less reliance on waiting for others, and more proactive efforts to solve problems on its own, reflecting a positive outlook. Third, in terms of management, there is widespread emphasis on strengthening operations and implementing refined, meticulous management. Fourth, regarding support measures, both financial resources and living‑facility provisions have been effectively secured.

President Ren stated that, overall, the economy performed steadily in the first quarter, with a solid start; in particular, the upward trend is highly commendable. However, there remain significant gaps compared to our ideal objectives, including a decline in contract values at both steel‑structure companies, insufficient improvement in economic performance, pronounced challenges related to workforce management and talent acquisition, and operational mismatches across the company’s projects.

Finally, President Ren outlined five key requirements for the second-quarter work:

First, prioritize two key areas: the market and management. Each company should thoroughly analyze the causes of the decline in orders, proactively implement corrective measures, promptly replenish order backlogs, and ensure stable, sustainable operations going forward. Strengthen management by sustaining the momentum of 6S practices, enhancing lean‑management approaches, and successfully carrying out Safety and Quality Month initiatives.

II. Ensure Effective Investment. In line with the guiding principles of the Group’s Board of Directors and the President’s Office Meeting, this year’s investment is concentrated and involves numerous projects. Accordingly, all subsidiaries and departments are required to: first, expedite the approval process for each project, strive for early project approval and commencement, and accelerate project progress; at the same time, carefully plan production lines and equipment procurement, drawing on best practices from other companies to achieve greater rationality, scientific rigor, and operational efficiency. Second, make every effort to reduce investment costs by adhering to the “essential” principle, exercising meticulous cost‑control, and pursuing cost savings.

III. Strengthen support for key factors of production. In addition to securing funding, priority should be given to ensuring adequate human resources by publicly recruiting a cohort of young, well‑educated employees who are well suited to the development of Yuegong.

IV. Reasonably adjust the company’s overall organizational structure, and conduct research and analysis on the Group’s structural framework and its development strategy, including issues related to the development of the steel‑structure industry.

V. Perform routine administrative tasks and begin addressing the outstanding historical issues of the Kaifeng Company.

Group company leaders inspect safety and quality management.

The company attended the Fifth Session of the First Congress of the Provincial Steel Association and the Diamond Award Ceremony.

Group company leaders inspect safety and quality management.

The company attended the Fifth Session of the First Congress of the Provincial Steel Association and the Diamond Award Ceremony.