Looking Back at 2024: A Year of Abundant Achievements
In 2024, Fudar achieved remarkable growth despite challenges.
Market Performance: Adhering to a "customer-centric" approach, we defied industry trends and achieved double-digit revenue growth, significantly surpassing the industry average. Our customer base was further optimized, and our international market share reached a new high. We maintained high customer satisfaction, earning multiple honors, including the "Strategic Partner" award from LAZZEN, "Excellent Supplier" from Schneider, "Starlight Award" from CHINT, "Best Quality Award" from ABB, "Operational Excellence Award" from Siemens, and "Supplier Quality Improvement Award" from HONGFA. We also established a Market Expansion Center to focus on developing new product categories, leading to the mass production of several new products. Additionally, we officially launched Shanghai Zhilan Technology Co., Ltd., leveraging Shanghai’s geographical advantages to integrate resources and lay a solid foundation for expanding into high-end and international markets.
Technological Innovation: Innovation has been the driving force behind Fudar’s success. We have continuously explored new technologies, advanced manufacturing processes, and developed new materials. Focusing on miniaturization, enhanced performance, cost optimization, and eco-friendly materials, we increased R&D investment and successfully developed several high-performance, silver-saving materials. We also achieved breakthroughs in cold heading processes for thin silver-layer rivets and in-mold welding technology for silver-graphite contact points, strengthening our core product competitiveness. This year, we filed 52 new patents and contributed to revising and formulating four national and two industry standards. We also passed the Ministry of Industry and Information Technology's review for Single Champion Enterprise status. We received recognition from Zhejiang Intelligent Factory, Zhejiang Manufacturing Single Champion Cultivation Enterprise, and Wenzhou Leading Industrial Enterprise.
Talent Development: Fudar believes that "Talent Drives the Future" and has made significant progress in talent acquisition and development. Following our "Talent 334 Concept" and "Three-Year Hundred-Talent Plan," we enhanced our workforce structure, with a steady increase in the proportion of employees holding bachelor's degrees and above. We recruited a record number of high-level talents, including one senior engineer and five engineers. At the same time, four individuals were selected for Wenzhou's Oujiang Talent Program (one in Category C and three in Category D). Our second-phase campus recruitment training program attracted university graduates from over 30 institutions, strengthening our talent pipeline. Furthermore, we deepened our university-industry collaboration by establishing joint training programs with Wenzhou Open University and Kunming University of Science and Technology.
Corporate Governance: To optimize corporate governance, we established the Deep Reform Office to assess market conditions and accelerate organizational restructuring, talent deployment, management model transformation, and process reengineering. We introduced digital intelligence tools, developed Fudar's big data platform, and upgraded in-house systems such as task-driven and 3D digital twin workshop systems. Additionally, we reinforced compliance management, establishing a company-wide compliance framework to safeguard operational integrity.
Moving Forward with Determination and Innovation
Three decades have passed in the blink of an eye. From a company once struggling with insufficient capital, facilities, talent, equipment, and market access, Fudar has become one of the top three global leaders in its niche industry.
As we embark on a new journey, we must uphold the fearless spirit of "advancing despite challenges" and the unwavering commitment to "transforming dreams into reality." In the coming year, Fudar will steadfastly pursue its "1-meter wide, 100-meter deep" strategy of specialization, refinement, and innovation, striving toward the grand vision of a century-old Fudar.
Finally, I sincerely wish everyone good health, professional success, and happiness in the new year. Let us welcome 2025 together and create a brighter future!
