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2018 New Year Speech-Peter Peng

2017-12-31 Sunway

Time waits for no one, just race against time!

A fruitful 2017& a brighter 2018

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Time files, The year 2017 comes to an end. The vision and the strategic planning, on which all management teams work together since the beginning of this year is still clear in my mind. At that time, we made a three-year business performance commitment to the capital markets that we expect to achieve a margin target of $750 million in 2017, $1.2billion in 2018, and $1.56 billion in 2019. There are people being surprised about our confidence to achieve such a rapid development while there are also people who doubt. Despite all of these considerations, as the year of 2017 comes to an end, through all of our efforts, all of our partners have got an outstanding result.

From the perspective of the business performance, Sunways revenue has reached 2.48 billion by the third quarter of 2017, with a year-on-year growth of more than 64.94%; the sales margin reached 714 million, with a year-on-year growth of about 106.4%.; the return on equity which is most valued by the majority of western companies and investors totaled 31.58%, which has increased by 9.24% compared to 2016. All these performance figures have proved our ability to achieve rapid growth and excellent performance.

From the perspective of companys market value, Sunways sustainable rapid development gives us a market value of 50 billion, ranking seventh on the listed companies on GEM. Our operating performance has increased YoY and QoQ since the latest 15 quarters, ranking the first among 3000 listed companies.  In the Best Listed Company Award Summit held in Suzhou on Nov 18, 2017, Sunway won the title of The best Listed Company and The Best Listed Company of the Communication Electronics Industry during the award ceremony.

From the perspective of the customer satisfaction and internal capability instruction, weve got a core supplier qualification from many of our key customers, and we also obtained new products development opportunities on various products such as wireless charging, LCP antennas, complex welding parts and deep drawing parts, high-speed connecting wires, Type-c and BTB connectors, which plays a significant role in Sunways future development. In 2017, weve carried out a multi-division structural reform, and dozens of product lines fully have their own flexibilities to strive for faster development; meanwhile, weve also put into practice the partnership culture by implementing diversified incentive methods such as ownership incentive and employee stock ownership.

In 2017, weve experienced loads of difficulties and challenges while withstanding an enormous pressure. Nevertheless, weve also accomplished a lot. Hereafter Id like to express my sincerest thanks to every Sunway partner, thank you all for your contributions and efforts for the company.  I believe it is the most important thing that in 2017, we have gathered a better understanding of customers requirements, strengthened our capacities and honed our teams power.

The year 2018 will count much more than any other year, since weve set a target for achieving a profit of more than 1.2 billion. Well further strengthen the relationship with our core customers, further accumulate technologies and continuously promote our development capability . Furthermore, seeing Murata  in Japan, Skyworks in USA and AAC in China as Sunways benchmark, we hope Sunway will reach the development countries level supported by over ten years accumulated experience and hard work.

Certainly, there will be many difficulties and challenges coming in our way in 2018. With the shareholders and investors higher expectations and customers tighter requirements, we must keep our sustainable rapid development as well as improving our organization capabilities. Only when we break the routine, change the traditional rules and conventional ways of doing things, constantly challenge ourselves and strive for an excellent standard, can we achieve our business performance targets; in addition, we should also put more efforts on talents introduction and team building to strengthen our capacities; we should focus more on collaboration and inion sharing of the internal teams within each BU, strengthen the risk control ability while ensure sufficient flexibility, only then can we maintain sustainable development and achieve the three-year strategic planning.  

The year 2018 is destined to be a year full of challenges, opportunities and expectations. I strongly believe that our joint efforts will be paid off in this coming year. I hope all our partners can work together with full of confidence, take actions and strive for a brighter 2018!

At last, I wish you all the blessings of a beautiful new year.

 

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