Far East Holding Group Co., Ltd. achieved growth despite the challenges in 2022, and Jiang Xipei, Chairman of the Board of Directors optimistic about China's economy.
The new year 2023 will mark the beginning of a new chapter for the Chinese economy. Jiang Xipei, Founder of the Far East Holding Group Co., Ltd. and Chairman of the Board of Directors, sent his wish for the Chinese economy in "Dialogue", a TV program on China Central Television (CCTV). He believes that in 2023, the private enterprises will grow better and better, the Chinese economy will get better and better, and China will get better and better!
He believes that the greatest confidence in China's economy comes from turning the slogan of "Two Unshakable" and the great dreams into reality as soon as possible. Also, the greatest benefits will be gained only when we implement the requirements on equal treatment of state-owned enterprises and private enterprises by improvement of the system and law enforcement. We should promote the policy and the public opinions to support the development and growth of the private sector and private enterprises, and protect the interests and rights of the private enterprises in accordance with the law. Leading cadres at all levels should address the problems and handle concrete affairs for the private enterprises, so as to build a new type of government-business relationship that is "close" and "clear".
The new momentum of China's economic development comes from the upgrading of the industrial system, and from the focus on the real economy development. By promoting the new industrialization, China will accelerate the strategic plan for constructing a major power in manufacturing, quality, aerospace, transport, cyber network and digital economy. Over the 38 years of the development of Far East, the Company has stay persistent in promoting self-revolution and keeping integrity and innovation. It has been committing itself to addressing the substantial issues for customers and the society by consistently focusing on its main business, strengthening the real industries, and providing ultimate products and timely services. By continuously strengthening R&D capability and intellectual manufacturing, it boosts the building of a modern industrial system.
Staying focused on the main business and real industries, the value of over-10-million-yuan orders received by Far East increased by 25% year on year in 2022.
In 2022, faced with the great changes, and the complexity, severity and uncertainty of the challenges in the environment, Far East has taken multiple measures to beat Covid-19 and promote the production, so as to maintain the development and growth of the industries. The three sectors - Smart Cable Network, Smart Battery and Smart Airport - have released great development momentum. The Company has put investment in the building of the Yibin Intelligent Industrial Park, the Rudong Industrial Base of High-end Submarine Cable Equipment, the Far East communication optical rods and fiber projects, and the copper foil industry, and it has won the largest order in its history. Beijing JingHangAn Airport Engineering has also gained the first-class qualification for the airport construction. Under the background of national strategies such as carbon peak, carbon neutrality and new infrastructure construction, Far East has seized the development opportunities and made layout to seek growth and development despite the challenges. Also, it will provide core technologies and product support for lots of key projects at home and abroad such as Winter Olympic venues, Baihetan Hydropower Station, Pokhara Regional International Airport in Nepal, etc. The announcement of Far East Smarter Energy Co.,Ltd. (referred to as Far East, stock code: 600869) shows that in 2022, the total value of contracts over RMB 10 million won by the subsidiaries or signed by the subsidiaries is RMB 22.731 billion, with a year-on-year increase of over 25%.
Driven by innovation and maintaining sustainable growth, Far East's new products and new technology have won a number of awards!
As the leader in the wire and cable industry, Far East has adhered to scientific and technological innovation as the first driving force to lead the development of enterprise by constantly increasing the investment in technology development, so as to improve the competitiveness of core technologies and products. It has made elaborate work on developing technical advantages, product advantages and industrial standards setting and gained innumerable achievements.
It continues to innovate and upgrade its products in the Smart Cable Network sector such as UHV high-conductivity energy-saving conductors, aluminum alloy conductors with high conductivity and high strength, chip-implanted smart cables as well as cables for the energy storage system, and the industrial share of medium and high voltage torsion cable has exceeded 70%. The liquid-cooled high-power cable for fast charging has obtained the first product certificate of liquid-cooled charging pile cable issued by TUV Rheinland in China, with the realization of batch supply. Submersible pump cables, flexible cables with highly flexible rubber sheathed and other upscale equipment products have become alternatives made in China. More than 120 products of the intelligent cable industry have reached the international leading or advanced level. It has won four China patent awards, led and participated in the formulation of more than 110 international, national and industrial standards, won more than 40 national and provincial science and technology awards including "the Second Prize of the National Science and Technology Progress Award", "China Patent Award of Excellence", "Jiangsu Province Science and Technology Progress Award", "the First Prize for Science and Technology Progress of Metallurgical Industry in China", "Mechanical Science and Technology Progress Award in China", "the First prize of Electric Power Science and Technology Innovation Achievement in China" and "State Grid Technology Invention Award", etc, and undertaken more than 10 national and provincial science and technology projects. In 2022, the total value of over-10-million-yuan contract orders won or signed is RMB 19.428 billion, with a year-on-year increase of 39.86%.In the Smart Battery sector, the Company combines cylinder and flexible package, and continues to make efforts in light travel, household energy storage, lithium power tools and other fields. With a production capacity of lithium copper foil reaching 15,000 tons, Far East steadily promotes the project of 50,000 tons of high-precision copper foil of Yibin Intelligent Industrial Park. Relying on the comprehensive strength in industrial chain integration and technical reserve, the Far East Battery, is actively engaged in light travel and energy storage, and has Battery 21700 with 2GWh of battery capacity, Battery 18650 with 4GWh of battery capacity, and pouch battery with 1GWH of battery capacity. Since 2022, the orders of the energy storage business of Far East Battery continued to surge. The total value of contracts over RMB 10 million won or signed is RMB 1.216 billion, with a year-on-year increase of 29.19%. The overseas order of RMB 680 million marks the customers' further recognition of the Company's household storage products. Last September, high-pressure energy storage stacked product HV5120-S1 for the households of Far East Battery obtained UN38.3, IEC62619/63056 and other series of certification certificates issued by DEKRA, the internationally famous inspection and testing certification body, which has boosted the layout of overseas accounts.
In the Smart Airport sector, its subsidiary, Beijing JingHangAn Airport Engineering Co., Ltd, takes a leading position in industrial segments such as navigational lighting aid and weak electricity engineering of air traffic management, and its market shares continues to increase. It has undertaken nearly 700 projects in more than 160 airports at home and abroad. Since 2022, Beijing JingHangAn Airport Engineering Co., Ltd has made efforts to promote the establishment of key projects such as Pokhara Regional International Airport in Nepal, Ezhou Huahu Airport, Siem Reap International Airport, Xi'an Xianyang International Airport, and Wuxi Dingshu General Airport, winning praises from all sides and enhancing a solid foundation for development. At the same time, Beijing JingHangAn Airport Engineering Co., Ltd has won the bid for a number of large-scale airport projects, including the EPC general contract projects of RMB 564 million of Shaanxi Fugu Airport as well as the airport lighting and platform lighting projects of RMB 170 million for the new airport in Hohhot. Beijing JingHangAn Airport Engineering Co., Ltd has further consolidated its industrial position and promoted its market influence due to the winning of these bids.
Employment is the foundation of people's well-being and development. While ensuring the smooth operation through comprehensive epidemic prevention and control, Far East has thoroughly implemented the policy deployment of the CPC Central Committee and the State Council on stabilizing employment, put the instructions and requirements of the government on promoting the employment of college students into effect, strategically deployed the "100 Talents Projects", and given full play to the role of private enterprises as the main channel for employment. Also, it has actively explored new thoughts, new ways and new methods of recruitment, formulated recruitment policies that give priority to the disabled, veterans, fresh graduates, Party members, families that have more than one child but offer the children with good care, and zero-employment families with more than one child. In addition, the Company has engaged in vigorous implementation of the strategies of innovative recruitment, cooperative education and training, and talent stability so as to ensure employment, stable increase in income and promote employment.
As a well-known private enterprise in China, Far East has been honored as the Best Employer in China and the National Learning-oriented Enterprise for many times. Committed to the talent conception of "respecting talents, cultivating talents and producing talents", Far East has been ensuring and enhancing the happiness of employees with the concept of "money, intrinsic value, position, promotion, face and house". By implementing the culture of "harmony and flexibility, the Company protects the rights and interests of employees and provided employees with development platform and environment to realize their own value, so as to promote the company and employees to grow together.
Creating values and serving society, Far East undertakes its responsibility of a private enterprise and withstands the trend.
Over the 38 years since the establishment, Far East has borne in mind its mission of "creating value and serving society", and actively undertaken its social responsibility while developing and expanding its industrial undertakings. When the epidemic broke out, Far East threw itself into the breach and went to the front line. It provided timely aid in constructing Leishenshan Hospital, Huoshenshan Hospital, and other cabin hospitals all over the country. At the same time, Far East also opened the love channel through the Far East Charity Foundation, donated supplies to the Yixing Red Cross Society, Yixing Municipal Bureau of Public Security and other first-line units for epidemic prevention and control, to vigorously support the first-line work for epidemic prevention and control. With a sense of responsibility and mission, Far East showed its sense of responsibility and national feelings, never forgetting where its wealth comes from and giving back to the society, and it has taken concrete actions to fulfill its corporate social responsibility and convey the strong positive energy of mutual help and unity in fighting the epidemic. In early December, with the new situation of the epidemic and the change of the new policy in China, in order to effectively respond to the 2019-novel coronavirus infection, Far East purchased a batch of epidemic prevention materials in emergency and distributed epidemic prevention care packages to its strategic customers, partners and all employees, to provide care for the health of customers and employees by practical actions.
Taking advantage of the situation and seizing the momentum, Far East has devoted itself to the "campaign" of stabilizing economy and promoting employment with patience and confidence to challenges. It has contributed its strength to accelerating high-quality as well as sustainable economic development, stabilizing the market and jointly promoting development with the whole society. In 2023, the Chinese economy will stimulate vitality and unleash potential. As long as we stay firmly confident to make steady progress, we will surely achieve our set purpose.