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All employees of Hangzhou Gear should firmly maintain confidence, take responsibility with determination, and continue writing a new chapter.

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2016.06.01

Qiu Chao, Deputy Secretary of the District Committee, stated: "Hangzhou Gear is Shaoxing's history and memory—let's continue to carry forward this glorious legacy."

On the afternoon of May 24, Qiu Chao, Deputy Secretary of the Xiaoshan District Committee, accompanied by Xie Guomin, Director of the Land Resources Bureau, along with leaders from the Bureau of Economy and Information Technology, the Planning Bureau, and other departments, visited Hangchi for research and guidance. Chairman Mao Jianrong, along with Vice General Managers Tang Hong, Xu Xueli, Huang Zhiheng, and Yang Shuiyu, and Deputy Chief Accountant Zhang Dejun, joined the delegation for the visit. The research meeting was held in the conference room on the second floor.

After all the leaders were seated, Chairman Mao introduced to Vice Secretary Qiu the company’s production and business performance in 2015: While there were several notable highlights, overall profitability remained weak. For instance, the company achieved significant breakthroughs in the new energy sector, as well as in nuclear power and tidal power projects. In 2016, Hangzhou Gear’s primary goal is to turn losses into profits. To this end, the company has launched a series of initiatives centered around addressing its key weaknesses, enhancing product quality, reducing costs, and boosting efficiency. At the same time, Hangzhou Gear also hopes for strong support from the district committee and district government. As the company works to strengthen its own "self-sustaining capabilities," it also looks forward to the government injecting "fresh momentum" into Hangzhou Gear, jointly driving the company’s development forward and helping it navigate the challenging period of corporate transformation and upgrading.

Xie Guomin, Director of the District Land and Resources Bureau, stated: "Hangzhou Gear boasts strong industrial advantages, and its emerging industries are showing promising growth momentum. We hope Hangzhou Gear can leverage the strengths of being a publicly listed company to accelerate its capital operations and drive transformative development. The Land and Resources Bureau will firmly support Hangzhou Gear in its efforts."

After listening to Director Mao's report, Deputy Secretary Qiu Chao expressed with deep sincerity: "Hangchi is not just an ordinary enterprise—it is the memory of Xiaoshan, the history of Xiaoshan, the industry leader of Xiaoshan, and the very foundation of Xiaoshan's machinery industry. Despite challenges, Hangchi remains steadfast in its core business and actively fulfills its social responsibilities. Without Xiaoshan's 'Three Major Factories' of the past, there would be no glory for Xiaoshan's industrial leadership over the past 30 years in Zhejiang province. Hangchi must not encounter any problems as it moves forward; the government has a crucial role to play in fully supporting and protecting this company that carries such a proud legacy for Xiaoshan, helping it navigate these tough times together. Of course, in the face of adversity, Hangchi's dedicated cadres and employees must remain confident, rely on themselves, and strive for self-reliance to drive growth. To overcome today's difficulties, the key lies in embracing the spirit of 'pioneering.' First, we must foster innovation in our mindset. Hangchi was born into privilege, and at its core, it carries a certain 'arrogance.' Yet, in today's dynamic market economy, we must boldly discard outdated thinking, obsolete models, and ineffective practices that hinder progress. Only by shedding these mental burdens can we move forward with agility and seize new opportunities for development. Equally important is strengthening our marketing efforts—refreshing our marketing strategies, exploring innovative approaches, and breaking through longstanding bottlenecks. We must also focus relentlessly on 'reducing costs, improving quality, and boosting efficiency,' ensuring that our company maintains robust internal strength. Moreover, we need to carefully select fresh strategies and pathways: while keeping our core business thriving, we should proactively explore cross-industry and cross-sector opportunities, tapping into new sources of growth momentum. Finally, action matters just as much as ideas. Instead of staying confined to the office, we must take initiative—get out there, engage directly with the market, actively seek out unique avenues for growth, and expand our reach far beyond traditional boundaries. Remember, 'relying on oneself is always better than depending on others.' Only then can Hangchi rejuvenate itself, regain vitality, and once again shine brightly in the industry."

Finally, Deputy Secretary Qiu offered heartfelt encouragement: As long as Hangchi broadens its horizons and thinks creatively, there will surely be a way forward. He expressed confidence that, with the government’s understanding and support, Hangchi can rely on its own strength to overcome current challenges, stabilize and revive the company, and ultimately achieve the goal of turning losses into profits. He also urged all cadres and employees to stay steadfast in their confidence, bravely tackle difficulties, and work together to win this critical battle against losses.