Rongda Technology 2019 Year-End Work Summary Meeting Successfully Held

Time flies, and 2019 has come to an end in the blink of an eye, ushering in 2020. On January 18th, Rongda Technology's 2019 year-end work summary meeting was successfully held in the multi-functional conference room 203 of the headquarters administration building. A total of 62 managers at the supervisor level and above from various departments of the company attended the meeting. The heads of each department took the stage to present their work achievements over the past year, discuss existing problems and solutions, and outline their work plans for next year.

Mr. Xu Kaiming, Chairman and General Manager of the company, delivered the opening speech. Mr. Xu stated that a year ago, the company proposed a policy of "shifting from extensive business development to driving the company's growth through refined management." However, the past year has seen dramatic changes. Externally, the shadow of the US-China trade war lingered, and price wars initiated by competitors raged throughout the year. Internally, the company inevitably encountered numerous difficulties and experienced growing pains due to management upgrades. But these difficulties and challenges were ultimately overcome through the hard work and great perseverance of all Rongda employees. Rongda has been reborn like an eagle, radiating new vitality.

This past year has been one of facing challenges and achieving growth against the market trend. Rongda Technology overcame various internal and external difficulties and challenges. The domestic sales department withstood the impact of the price war that swept the entire industry, worked hard to explore new product markets, and broke through existing sales channels, still achieving a slight year-on-year increase in total shipments and performance. It also made commendable breakthroughs in direct project sales, securing more than 10 major projects throughout the year, providing a solid foundation for resisting the price war and stabilizing the company's product prices. The international sales department actively developed untapped markets and actively sought new customers, achieving a 31.9% year-on-year increase in performance and further improving its international market share, making an outstanding contribution to achieving the company's performance goals.

This past year has been one of innovation and technological breakthroughs. Amidst tremendous opportunities and market changes, consumer attitudes are constantly evolving. Rongda Technology has kept pace with these trends, developing a range of new products to meet market demands, including the AURORA Y1 smart PC scale, the RP421 four-inch paperless tabletop dispenser, the RP310 three-inch barcode dispenser, the AP02 smart POS system, and the Panda error correction machine, among over ten other new products. The company has also made significant technological breakthroughs in cutting-edge new retail applications such as self-service terminals, facial recognition payment, and self-service ordering machines. Throughout the year, Rongda Technology applied for over ten utility model patents and five invention patents, greatly enhancing its R&D capabilities.

This past year has also seen remarkable results from both refined management and cultural transformation. The production system implemented refined management demonstration department measures, resulting in significant improvements in production efficiency, first-pass yield, and pass rate, all maintained above 98%, and a significant increase in product delivery accuracy throughout the year. Cost control has been effective, with costs in each department being effectively controlled, per capita GDP gradually increasing, and departmental expense ratios gradually decreasing, ultimately leading to improved company profit margins. The streamlined OA approval process, clear timelines for work approvals, and daily task completion, while causing some employees to experience initial adjustment difficulties, has solidified the foundation of a culture of efficient execution. The revised mission statement, adding the element of "achieving both material and spiritual well-being for all employees," fully embodies the "people-oriented" corporate culture values.

Looking back, we have achieved much; looking forward, the road ahead is long and arduous! The departmental reports concluded successfully with rigorous analysis and factual reporting. General Manager Xu then shared insights into the economic situation and industry development in 2020, detailing the company's goals for 2020 and outlining strategic plans for achieving them. He also announced the new year's objectives for each department. In 2020, General Manager Xu stated that the company will continue to promote the implementation and improvement of its three major tasks: "business growth," "refined management," and "cultural transformation," further enhancing its management level and driving the company's development towards higher goals. He expressed his hope that all Rongda employees will unite and work together to create a new chapter of development in the new year!