On behalf of LiuGong Party Committee, the Board of Directors and management, I would like to express our sincerest thanks and best wishes to all LiuGong employees and their families who have worked hard in more than 130 countries and regions around the world, to our long-standing customers and partners, to government leaders and to our friends who have always supported LiuGong.

In the past year, we have adhered to the guidance and the spirit of the Fourth Plenary Session of the 19th Central Committee of the Party; always remembering our mission and carrying out “secondary entrepreneurship” of Guangxi machinery industry’s high-quality development and the strategic deployment of the company’s 13th Five-Year Plan. We deepened the reform and transition of state-owned enterprises and accelerated technological innovation and organizational change; promoted internationalization, strengthened our risk prevention abilities and improved our products’ quality and profitable capabilities to reach new height.

The year for innovation and reform of state-owned enterprises.

Under the support of the Autonomous Region and the State Assets Committee, as a pioneer in the state-owned enterprises’ reforming in Guangxi, we actively started the exploration of the mixed ownership system for LiuGong Group. We have made strategic adjustments to the organization, set up wheel loaders and excavators as our core businesses and further clarified the authorization, giving full rights to each segment to flexibly respond to the market. We realized new breakthroughs in employees’ incentive by offering restrictive stock shares to more than 1600 key employees. LiuGong Leadership Development Project and LiuGong University construction have made phased progress, actively cultivating the leaders and excellent staff for LiuGong.

The year for fruitful achievements.

In 2019, we achieved great performances in our excavator and bulldozer segments; we keep leading the wheel loader market and making remarkable achievements in large-scale wheel loaders; we made significant progress in mining equipment and hoisting machinery and entered the agricultural equipment segment; we also achieved new breakthroughs in core parts and components and further expanded our aftermarket business. Meanwhile, innovative intelligent manufacturing progressed and the high-level R&D development and industrial transformation were promoted by both LiuGong and OVM.

We have strived to realize the return growth for shareholders and actively practice social responsibility, ensuring that the vast number of stakeholders including customers, partners and employees of their rights and interests and have won the “Best Corporate Governance Award” in the capital market.

The year of innovatively and fully implementing the “Three Totals Strategy”

The company’s reform complies with market competition and the digital intelligent marketing has gradually expanded; direct sales as a new model has become one of the hotspots to increase the company’s profitability.

LiuGong India continued its manufacturing localization to build an excellent brand in the Indian market.  LiuGong North America actively explored new business channels and integrated customer resources, and achieved a best market performance; LiuGong Europe opened up new markets in Western Europe and continued to complete marketing, manufacturing and R & D systems to support growing business. Additionally, LiuGong Russia, Latin America and others have also embraced the market renaissances and had rapid growth, all resulting in new heights for our international business.

The company has continuously invested in technological innovation. The excavator factory actively explores intelligent manufacturing and has successfully implemented battery electric power technology for its F series excavator. Stage four products, ariel working platforms and mining machinery have all been released to the market and more will be launched successively. The debut of battery electric vehicles, intelligent equipment and 5G remote control technology at the Beijing International Construction Machinery Exhibition (BICES) showed our strength to be in pace with industry trends.

In 2019, great changes took place in the construction machinery market, such as new market demands, fiercer competition and new technologies, big data, intelligence and electric power, have developed rapidly in the construction machinery industry.

We are in an era of both opportunities and challenges.  

Becoming a world-class enterprise is our great vision and the New Year’s bell calls for another endeavor.

All LiuGong people will strive to forge ahead.

We will steadfastly follow the Party’s leadership and strive to realize new leaps in company’s reform and upgrading.

We will steadfastly insist on innovations in both technology and management.

We will steadfastly push forward the implementation of the company’s “Three Totals Strategies”.

We will steadfastly take “people-orientation” as a fundamental guarantee to effectively inspire the team to build new vitality.

Only by our hands can we make these dreams come true. The future was bred and our centurial business was developed.

All LiuGong people need to hold the faith and remember nothing can be done by obeying the secular rules in the world, and all is not necessarily difficult if one keeps trying. Thus, standing at the beginning of 2020, we should never stop but endeavor to create a bright future.

Time is watching the stride of the fighters, and we greet the coming of 2020 with excitement and respect.

Happy New Year and best wishes for all!