On March 22nd, the company held a cost reduction and efficiency enhancement kick-off meeting to promote and explain the significance and purpose of carrying out the cost reduction and efficiency enhancement activities, providing a clear direction for subsequent work. Members of the company's board of directors and the cost reduction and efficiency enhancement committee attended the meeting.

The meeting pointed out that the main purpose of carrying out cost reduction and efficiency enhancement activities was to improve operational efficiency, optimize resource allocation, reduce costs, and enhance market competitiveness. To successfully accomplish the task, a cost reduction and efficiency enhancement committee was specifically established to comprehensively take charge of planning, coordinating, and promoting cost reduction and efficiency enhancement work centered on products. The meeting made arrangements and deployments for the next steps of work for each cost reduction and efficiency enhancement team.

The company's chairman, Sun Guanjun, emphasized that the current market pressure was immense, and cost reduction and efficiency enhancement were imperative. The committee should do a good job of coordinating work across different war zones, military branches, and departments. "Cost reduction" and "efficiency enhancement" were two separate matters that could not be viewed in isolation. Cost reduction was not limited to procurement but also involved other departments, which simultaneously needed to improve efficiency. He pointed out that cost reduction and efficiency enhancement were team efforts, and it was essential to focus on team collaboration. Team members should actively participate, and departments and teams should actively communicate and collaborate. Each team should collect data from the early stages and have a benchmark for quantifiable data. After the meeting, each team held a separate meeting according to the meeting arrangements to deploy and carry out work.

In the next step, the company will take "cost reduction and efficiency enhancement" as a long-term task and a key focus for this year, involving all employees. Through cost reduction and efficiency enhancement, the company aims to enhance product competitiveness and contribute to the company's leapfrog development.