Start with a sprint—securing a strong "opening-day" victory!

We implemented TPI cost-reduction and efficiency-enhancement initiatives, setting a comprehensive annual cost-cutting target and launching more than 30 TPI cost-reduction projects. Additionally, we promptly phased out outdated production capacities and successfully installed, tested, and put advanced, intelligent, and automated equipment into operation, significantly boosting labor productivity.

The opening match is already the final. In the first quarter, the company’s core products showed strong growth in both production and sales, with revenue increasing by 43.78% year-on-year. Profit for the quarter reached a record high, while sales of powders, alloy bar stock, and precision tools surged by 13.13%, 6.96%, and 21.98%, respectively, compared to the same period last year—marking a stellar "strong start" to the year.

1. Clearly define strategic goals and deepen Party building leadership  

In the first quarter, the company diligently studied the spirit of the 6th Plenary Session of the 19th CPC Central Committee and the Two Sessions of the National People's Congress, while also fully implementing the guiding principles from the Group Company’s and China Tungsten High-Tech’s annual work conferences. To align with these objectives, the company held its own annual work meeting, clearly outlining its five-year strategic vision: to pursue a specialized, refined, distinctive, and innovative growth path, guided by the development goals of "powders as the foundation, bar stock as the focus, and cutting tools as the direction." Through this approach, the company aims to progressively establish itself as a leading benchmark enterprise for deep processing in Jiangxi Province’s tungsten industry.

We are launching a comprehensive discussion aimed at "Building Our Company into a Leading Benchmark for Deep Processing in Jiangxi Province's Tungsten Industry." Central to this initiative is the development of a special action plan titled "The Blueprint Is Ready—How Do We Move Forward?"—with the "Progress Index" as its core metric. This plan will focus on driving growth by staying true to our core business objectives, while each branch party committee will formulate tailored implementation strategies to ensure the plan is effectively put into practice. Additionally, we are initiating the process of renewing leadership positions within the Party Committee and branch party committees. By deeply integrating Party building with operational and production activities, we aim to leverage high-quality Party leadership as the cornerstone for sustaining and enhancing our organization's overall growth and success.

2. Break through development bottlenecks and clearly define project implementation

With the support of Zhongtung High-Tech, the company successfully obtained approval for its land-use plan through proactive communication with the government. This resolved the long-standing land-use issues that had been hindering the company’s growth, enabling it to break through developmental bottlenecks and fully focus on expanding its integrated carbide tool business, further broadening its presence in the deep-processing sector.

Clearly define the company's 2022 investment project construction, Held multiple video conferences with downstream companies, Confirm The person in charge of various tasks and their respective timelines for the Nanhang Park project at downstream enterprises, ensuring The project commenced as scheduled. Work; Establish the Cutting Tools Business Unit, build the management team for the unit, set up a dedicated Cutting Tools Project Team, renovate the existing irregularly shaped factory building, and move forward with the implementation of the 3-million-unit solid carbide tool project.

3. Organize epidemic prevention and control in an orderly manner, and strive to ensure production and operations.

In March, when an outbreak occurred in Nanchang, the company strengthened personnel and area controls, promptly adjusted employee dining arrangements, and cooperated with the community to conduct five rounds of mass nucleic acid testing. As a result, not a single positive case was reported within the company. Additionally, by carefully managing logistics, making smart adjustments to production schedules, and coordinating the stable supply of externally purchased hydrogen gas, the company minimized disruptions to its operations.

4. Scientific and technological innovation yields results, while quality improvement points toward a clear direction.

Powder products have seized the sales spotlight, successfully developing high-end tungsten carbide—achieving 38.67% of the annual sales target in the first quarter. Alloy bar products were delivered smoothly, earning strong customer approval. Additionally, the company has innovatively established quality metrics, introducing both baseline and ambitious targets. On March 8, the company was recognized as a "Specialized, Sophisticated, and Novel" SME by Jiangxi Province, positioning itself strongly for the upcoming application to become a "National Specialized, Sophisticated, and Novel Little Giant" enterprise.

5. Continuously implement lean production to reduce costs and improve efficiency.

In the first quarter, more than 90 units of equipment were completed for replication and cleaning, and over 300 defect corrections were carried out; meanwhile, publications were released. Total proposals: Over 900 Items, including more than 60 key proposals; initiated hazard-reduction initiatives, implementing improvements to various risk sources such as distribution cabinets and hazardous gases; ongoing We implemented TPI cost reduction and efficiency enhancement initiatives, setting a comprehensive annual cost-cutting target and launching over 30 TPI cost-reduction projects. Additionally, we promptly phased out outdated production capacities and successfully installed,调试ed, and put into operation advanced, intelligent, and automated equipment, significantly boosting labor productivity.

6. Strengthen team building and enhance employee training

All members of the company's leadership team, including both executive committee members and non-committee executives, have reported to work. They have completed the reallocation of roles and responsibilities, as well as adjustments to organizational structure and personnel assignments. Additionally, the company has innovated its approach to selecting future leaders by conducting written tests and interviews for the reserve cadre selection process. Meanwhile, internal job training sessions and hands-on learning opportunities within the company’s existing systems are underway. Key employees are also being sent on rotational assignments to other companies, while the organization is collaborating with a consulting firm to foster the development of a learning-oriented culture. Finally, the Employee Representative Assembly approved the "Compensation Reform and Optimization Plan," which addresses and enhances issues related to pay equity and incentive structures across the company.

"Unity of purpose ensures victory; shared resilience in adversity leads to prosperity." In the first quarter, despite challenges like power restrictions and the ongoing pandemic, our company rose to the occasion by maintaining orderly operations, executing tasks with remarkable efficiency, and giving it our all—resulting in a strong start. We’ve successfully laid the groundwork for a high-quality growth journey, achieving a record-breaking quarterly profit in the company’s history! The dedicated team at Nanjiang will undoubtedly press forward with determination and unwavering commitment, tirelessly striving to establish our company as the leading benchmark enterprise for advanced tungsten processing in Jiangxi Province.