From December 28 to 29, 2024, Wanxiang Qianchao Co., Ltd. will hold its 2025 annual meeting. The meeting will study the spirit of the Central Economic Work Conference, summarize the company's operational performance in 2024, and lay out plans for the coming year's development. Guided by the mission of "Making the air cleaner," the meeting will implement the global development strategy approved by the Board of Directors, leveraging bearings and chassis as its two core strengths, exploring innovative integrations of artificial intelligence and blockchain, adhering to a philosophy of technology first and upholding integrity while fostering innovation. With a focus on building robust systems and nurturing talent, the company will further strengthen its core competitiveness, pursue high-quality development, and seize the commanding heights of the future.

Wanxiang Qianchao Chairman Ni Pin conveyed the spirit of the Wanxiang Group’s 2025 Annual Meeting. First, we must stay true to our original aspiration. Management should reflect on how to shift from focusing on finite resources to embracing infinite possibilities, and from investing in objects to investing in people—creating an environment where people create, people enjoy, and everyone is positive, motivated, and striving for excellence. Second, we must keep pace with the times. New technologies are transforming and creating everything; we must stand firmly with the times and pay close attention to industries related to energy, AI, and life sciences. Third, in the face of unprecedented changes in a century, we must seize unprecedented opportunities, elevate the management team’s level of awareness, and closely follow the overall development of the Group.

      Ni Pin delivered a keynote speech on the theme “If You Don’t Go Global, You’ll Be Left Behind,” and outlined strategic directions for the bearing business. He emphasized that Wanxiang Qianchao needs to let go of its past glories and shed its burdens, truly embarking on a fresh entrepreneurial journey and boldly taking on risks. It must leverage the strengths of its large-group strategy and small-accounting system, focus on building global capabilities, decentralize markets, get closer to customers, respect differences, and encourage innovation. We need to cultivate greater vision and magnanimity, enhance our ability to communicate with honesty and transparency, and hone our resilience, flexibility, and capacity for compromise. We must also improve our product competitiveness and embody the spirit of craftsmanship. Moreover, we should respect the enterprise, fully empower grassroots teams, make the most of employees’ strengths while tolerating their weaknesses, understand their needs, and foster a sense of ownership among staff. The bearing business must undergo a fundamental transformation: based on its current manufacturing, technological, process, and equipment capabilities, it should strategically explore new dimensions and growth paths. Furthermore, we must place great importance on quality issues at the systemic level and ensure that quality control measures are effectively implemented.

      Pan Wenbiao, Vice Chairman of Wanxiang Qianchao, laid out and implemented the overall work plan for the chassis business. He pointed out that each company should carefully summarize the gains and losses from its key tasks, draw lessons from existing problems, and swiftly carry out corrective measures. Companies should seize the strategic opportunity presented by the accelerated development of their own brands, speed up the phasing out of outdated equipment, and accelerate the expansion of production capacity. They should proactively explore new markets, focus on the R&D of new products, and make every effort to secure more orders. Companies should coordinate capacity allocation and optimize investment and construction plans. They should intensify technological upgrades, expedite sample development timelines, and comprehensively enhance their innovation capabilities and core competitiveness.

      The meeting called on all companies to fully implement the spirit of the Wanxiang Group’s 2025 Annual Conference and leverage artificial intelligence and blockchain technologies to empower production and operations. In response to Ni Pin’s keynote report—“Those who don’t go global will be left behind”—companies are urged to develop and earnestly carry out action plans in areas such as organizational structure and strategic planning. It is essential to maintain a broad perspective and unwavering perseverance, remain firmly committed to our beliefs, and rejuvenate our spirits. By harnessing the power of globalization and transformation, we must adapt to changing circumstances, embrace the future, and lead our companies toward a new era of brilliance by 2025.

      The meeting was chaired by Li Pingyi, General Manager of Wanxiang Qianchao. Attending the meeting were general managers’ assistants and above from all Wanxiang Qianchao companies and enterprises, as well as organizational resource managers, financial accounting managers, marketing department managers, product innovation department managers, general managers’ assistants and above from various departments at headquarters, and other designated personnel. Also in attendance were representatives from the Group’s Board of Directors Office, Development Department, Financial Management Department, Finance Company, and Xiang San Chuang. The Financial Management Department and the Organizational Resources Department each delivered special reports on operational planning and human resources, respectively. Each company presented its work report, summarizing and reviewing its overall business and work performance for 2024, and outlining and implementing its strategic and economic policies for 2025.

      The parallel special meetings held on the 29th—covering financial accounting, market operations, digital intelligence-driven operations, organizational resource management, and technology—focused on deploying work in line with the spirit of Wanxiang Qianchao’s 2025 Annual Meeting. These meetings clarified division of responsibilities, identified key challenges and difficulties, emphasized rigorous execution, and ensured that the annual meeting’s goals are effectively implemented and yield tangible results.