Chairman Wu’s New Year Speech 2022

As a poem writes “Youth never comes again and time never waits anyone”, the year of 2021 has passed. Looking back over what we have experienced in the past 2021, I feel it is hard to describe it in words. What we are experiencing is the same as what we suffered last year with strict epidemic control, severe environment protection policy, rising raw material price, and soaring sea freight badly affecting our export business. What happened at home and abroad in 2021 and how the government policy changed to make people engaged in industry study the policies and make decisions carefully to prevent various risks, so as not to affect the steady progress of the enterprise.

The year 2021 witnessed market changes in China, such as de-financialization in real estate, de-marketization in medical care, de-capitalization in education, de-nationalization in media, and de-monopoly in internet platforms. These changes altered people’s recognition.

The year of 2021 was so difficult for us. In the beginning three months, we resumed production in many efforts, but hardships followed. In April, under the policy of “Bule Sky and Clear Water Protection”, environment protection was upgraded and the raw material price soared, which led to production at a standstill. In May, June, and July, the raw materials cannot be delivered on time and the operating rate was low. Since August, international freight rates increased by 10 times due to insufficient containers. Our main customers in the U.S. suspended their delivery requests, and this issue has not yet been resolved, which exceeded customers’ capacity and violated market rules. Facing these realities, we treated this issue seriously since we connected with our customers closely. A comfort to us was that the “China-Europe International Freight Train” departing from Xi’an could ship products to our European customers, otherwise, Wishpower mainly cooperating with well-known European and American electrical equipment manufacturers would undergo a heavy strike. In September, Wishpower timely adjusted the marketing strategy and strengthened the domestic marketing promotion efforts. We won multiple bids for products such as composite insulators for the electrified railway, lightning arresters, and composite cable trays, and composite insulated cable supports for railway tunnels. Utilizing excess production capacity (personnel, equipment) to provide supporting products to domestic manufacturers also brought us good results.

In 2021, with the participation of all employees, Wishpower successfully passed the quality, environment, occupational health, and safety system re-certification and CRCC product certification, indicating that our management system kept effective and meet the requirements of providing customers with qualified, reliable, and safe products. People in Wishpower also utilized their spare time to learn “On-site Lean Management” and “Team Quality Construction” and kept implementing and strengthening the “7-second Movement” throughout the production process to improve work efficiency.

In 2021, treating supply chain management during the epidemic period as important as marketing, our main leaders and supply chain managers visited all material suppliers one after another and signed 37 agreements including the “Integrity Agreement”, “Confidentiality Agreement” and “Annual Supply Framework Agreements” for 2022 with supplier partners. We required all managers and technicians to keep in mind the management philosophy of “cultivating suppliers, stabilizing supply chain, and achieving a win-win situation”. We always insisted on cooperating with reliable suppliers with strict quality control and using the highest quality raw materials to produce safe, reliable, life-related power products.

Today, the phrase “revere every product and respect every customer” has imprinted into the mind of every employee and has become their conscious action.

In 2021, the target of “carbon peak and carbon neutral” put forward by the Chinese government was a chance and challenge for us. We should not only consolidate our European and American market but also expand our business in domestic markets, such as the electrified railway market, wind power generation, photovoltaic solar power generation, State Grid, and China Southern Power Grid. At the same time, we actively responded to the call of the state by improving our internal efficiency and sales ability and reducing power consumption to fulfill our social responsibility in energy saving and emission reduction.

From the day when Wishpower founded, People in Wishpower set the goal of making Wishpower a well-known brand and an enterprise with a century history and treated “Devotion and Profession” as our foundation. No matter how the international and domestic environment changes, this mission, responsibility, and sentiment towards the Wishpower brand will never change. As an HV product manufacturer and exporter, Wishpower provided customers with high-quality products and value-added services with a sense of responsibility to help customers create or maintain a competitive advantage. Through our excellent operating capabilities, we strived to create benefits for the company and create a new international image of Wishpower. As a result, everyone in Wishpower may enjoy wealth and happiness through success!

I think the best way to embrace the unpredictable future is to face a plain and beautiful life with our peaceful original heart.

Even with difficulties, I wish everyone to go forward with sunshine in their heart and a smile on their face in 2022.

I sincerely wish all the friends, customers, employees, and family members having been caring about and supporting the development of Wishpower to be happy and healthy in 2022! May good luck be with you forever!

January 1, 2022