Zhejiang Materials Industry and Trade Group Co., Ltd was founded in 1998. It has been 10 years since the company was restructured a second time from a state-owned enterprise to a private enterprise in the end of 2003.
Looking back on our past decade, during the first 5 years after restructuring, we had a dream to start our business and a desire to make it larger. We had participated in several businesses via acquisition and merging with several state-owned enterprises and private enterprises, exploitation and production of mineral resources, construction and operation of a 10,000-ton railway distribution station for coal, purchasing and disposing of banks’ non-performing assets and cooperation with other enterprises. We realized that when the market and policies changed, with careless omission of management, the inability to adjust to the investing environment, and risks incurred by unconventional investment, we had to immediately and actively adjust the strategies. Thankfully, due to correct decision-making, we were able to address the consequences created by the global financial crisis in late 2008. Additionally, we had seized valuable opportunities and successfully achieved transformation and upgrading so that we could adhere to the road of sustainable development. In the last 5 years, we purposely controlled the growth of quantity by seeking quality improvement. Moreover, we had a clear understanding of what we have and what we can achieve. Therefore, our company is now walking on the path of healthy and sustainable development. Because of the first 5 years’ accumulation and the last 5 years’ adjusting, planning and tactful moves, we have become a group with steady growth of both domestic and international trade, supported by industrial assets’ operational income, property growth accompanied by tourism real estate and innovative modern financial services.
Looking forward into the future, however, we realize that our ongoing path will still be unfavorable; our development will encounter much more difficulties. It is easy to start a business but challenging to maintain it. Our previous work has only exhibited periodical success; however if we are careless, our previous efforts will be wasted. In terms of drastic market competition, we need to utilize our strengths as well as be strongly conscientious; we have to be united and keep a positive attitude of rationality and stability; we are a private enterprise, so we are flexible in mechanism and effective in lowering internal friction; and also we have an economic foundation which provides strengths and good conditions for continual development. Obviously, it is crucial to find and resolve our shortages. For example: issues in starting a business with a weak base, shortage of high-caliber talents which need to be introduced and trained, difficulties in implementing a management process, an imperfect business environment which needs to be improved. From now on, we should fully utilize our advantages and overcome the weaknesses; we need to have an attitude of responsibilities as well as be self-dependent, tough and seek improvement in stability. In addition, we will also achieve growth in employees’ income, high return of shareholders, enterprises’ equity accumulation and revenue. We strive to run a healthy, sustainable and developing business for us; even when we look back after 20, 30 or more years, we will still be proud of ourselves.
We can not forget the appropriate reform and opening-up policy provided by our government, the team trained by state-owned enterprise as well as the opportunities that arose as we attained our level of current achievement. It also could not have been attained without the support and trust from our cooperators, financial enterprises, assistance from business partners and trust and understanding of our shareholders. Without them, our operation could not be efficiently organized. Moreover, thanks to our hard-working staffs and teams, we would have not achieved our current status without their efforts. They make our company strong and prosperous. Therefore, on this occasion of 15th year anniversary of establishment and 10th year anniversary after restructuring, I am hereby sincerely thankful to all of you. Thank you for all the help, assistance and even critical opinions that you provided.