Navigating Challenges, Driving Growth: Chairman’s Speech at WAYEAL’s 2024 Annual Meeting

On February 7, 2024, WAYEAL held its grand annual meeting and award ceremony in Hefei under the theme "more reliable, together for the long term." Chairman Mr. Zang Mu delivered a speech titled "Competing in the Sea, Internal Growth". The full text of his speech is as follows: 

2023 was not an easy year. Faced with a deteriorating external environment and the ongoing impact of the post-pandemic... the competitive pressure was far greater than in previous years. All WAYEAL employees persevered and expanded their efforts, collectively overcoming the challenges of this year. In the past year, various business units and strategic operations took on heavy responsibilities and faced challenges head-on, achieving steady business development through perseverance. 

• The Industrial Intelligent Detection Division delved deeply into the new energy and automotive markets, exploring future growth areas such as semiconductors and overseas markets, with stable business growth. 

• The Industrial and Environmental Division confronted industry downturn pressures, focusing on pollution sources and environmental monitoring, seeking new opportunities in air stations and industrial processes. 

• The Analytical Instrument Division strengthened its capabilities in ion chromatography, accelerated the competitiveness of liquid chromatography, gas chromatography, mass spectrometry, and spectroscopy products, and made steady progress in the layout of new materials, achieving business breakthroughs and continuously enhancing brand awareness. 

  The strategic business projects are actively advancing, with clearer commercial success paths for ultrasound knives, dialysis, PCR, and other businesses, making the layout in the life and health field promising.

In the past year, WAYEAL has focused on improving management levels by introducing external consulting and benchmarking against leading companies to achieve lean operations. We have built and upgraded key processes such as strategy, sales management, digitalization, R&D management, and supply chain through the construction of DSTE, LTC, IPD, and ISC systems. Continuous capability enhancement is being carried out based on a series of projects including organizational dynamics systems, R&D digitalization, R&D quality management digitalization, and overall R&D management improvement. Key projects are making positive progress and achieving expected results. 

2023 marks the 20th anniversary of WAYEAL's establishment and the inaugural year of its brand building. This year, the brand has been renewed and upgraded with the brand concept of "more reliable, together for the long term," allowing various sectors of society to hear WAYEAL's voice through various market and brand activities. The winds are stirring, and the tides are surging. Regardless of how the complexity and intensity of competition change, the people of WAYEAL remain united, steadfast, and are solidly advancing towards the goal of a 10 billion. 

At the beginning of 2023, we published the WAYEAL Principles for Breaking Through 10 Billion, clearly defining "product leadership" as the company's core competitive strategy. The colder the winter, the clearer and more determined our core competitive strategy needs to be. 

In the past year, we have clarified the connotation of the "product leadership strategy" and developed the concept, implementation path, and methods for product leadership. Commercial success is an important evaluation criterion for product leadership. 

Quality leadership is a prerequisite 

The prerequisite for product leadership is quality. In 2024, WAYEAL views 'quality leadership' as a key task, gradually achieving excellence in quality through building systems, setting standards, strengthening assessments, and emphasizing evaluations.