Yintai Group held its 2020 annual management conference in Hangzhou on January 14-15. The conference, themed “Of one mind - Forging ahead together”, reviewed and summarized the progress and performance of each operation of Yintai Group in 2019, and presented the prospects and plans for future development.
The conference had three key goals. The first was to bring all the management staff of Yintai Group together to enhance mutual exchange and to get to know each other better. The second was to foster deeper understanding of the overall businesses of the Yintai Group among the core management staff of each business division so as to lay a robust foundation for future collaboration. The third was to focus on the theme of this conference - Of one mind and Forging ahead together. Through brainstorming and joint discussions, the participants gave suggestions and opinions on the future development direction of Yintai Group.
Yintai Group Founder and Chairman Shen Guojun fully affirmed the Group’s adherence to the principles of pursuing innovation, advancing with the times, and expertise in seeking collaboration as well as its strong resource integration ability, all of which had become Yintai Group’s growth DNA. He also thanked all employees for their hard work and effort.
When analyzing the current economic condition, Shen Guojun said that the downward economic pressure experienced in 2019 would intensify, financing for private enterprises would become more difficult and costly, domestic demand would be weak, and the employment situation, dire. Although the Chinese economy faced many challenges at this time, he remained very confident about the overall economic condition of the country. The cyclical volatility of the current economy was also within the normal range.
“The Chinese market has great potential, and will advance and grow significantly in the future. I’m sure of it,” said Shen Guojun. He believed that support for private enterprises would be further enhanced in the future. In terms of industry, outdated production capacity would be made obsolete, while information, high-tech and other emerging industries such as the Industrial Internet of Things (IIoT), biomedical, and the comprehensive health industries would have larger growth potential. Enterprises should become more focused on their core business, and develop sectors more suited to them, but should not remain conservative but should innovate.
Under these circumstances, how should Yintai Group respond, and remain at the forefront of private enterprise development?
In this regard, Shen Guojun laid out five required tasks for the Group’s management.
First, summarize, reflect and review. Through continuous evaluation and summary, management must learn from the experience of and draw lessons from the Group's development over the last 21 years, and think about how they should avoid risk, innovate and develop.
Second, all industries should continue to reorganize and consolidate, aggregate their strengths, focus on their core business, and ensure that they become the best and the most influential in their respective sectors.
Third, management should always remember Yintai Group’s tradition of and strengths in innovation and development as well as seeking business opportunities in crisis. During a cyclical economic downturn, in particular, management should be more adept at finding suitable opportunities; this too is Yintai Group’s strength.
Fourth, give priority to team learning and talent development. With technology advancing at an exceptional pace, and markets and consumers having changed rapidly in recent years, all teams should enhance the learning of new knowledge and skills through multiple channels, carry out interdisciplinary learning, break out of their comfort zone, and seek new possibilities. At the same time, they should give priority to youth development, and build a loyal and responsible young team with management and learning ability, which will go through thick and thin as well as assume risks together with the enterprise.
Fifth, the entire team should be of one heart and mind, and grow together. Yintai Group is involved in a diverse range of industries across many regions. Hence, it is all the more imperative that the entire team be more cohesive and of one mind, and grow together, showcasing their talent, and reflecting their personal value on the Group’s platform, ultimately benefiting both the individual and the enterprise.
“Yintai Group must become an influential enterprise in the minds of the government, as well as that of our business partners, teams, employees, and especially our customers. It must become a respected enterprise, and continue to gain good reputation and credibility.” As regards his aspirations for the future of Yintai Group, Shen Guojun stressed that Yintai must become an influential and respected enterprise. “I hope that Yintai Group will still exist in the next 10, 20, 30 years, and become better and more robust. I’m very confident of this.”
Echoing the theme of “Of one mind - Forging ahead together”, the core management staff at this year’s management conference discussed the future development plans and approach of each division of Yintai Group during their mutual exchanges by way of a “small group discussion + Chairman comments” format. They also learned from and inspired one another as to how they should respond to the difficulties and challenges currently confronting them, offering ideas for the future development of the enterprise.
Despite increasing economic uncertainties in 2019, Yintai Group adhered to its development approach to focus only on that which it ought to do. By rigorously controlling risks, optimizing resource allocation, and consolidating its core competitive advantages, it continued to achieve excellent performance. As the Group looks toward the year ahead and the next decade, all Yintai people will continue to forge ahead with grateful hearts as the Group embarks on a new journey together.