Dear family and beloved partners of Wanghui Foods:  

Good morning, everyone!

A timely snow promises a good harvest, and diligent people welcome an early spring. As the saying goes: "The plan of the day lies in the morning, the plan of the year lies in spring." Tomorrow is the day of the Beginning of Spring, coinciding with the timing. Today, Wanghui Foods is holding its annual year-end expanded management meeting here. After hearing the centers' recent summaries of the past and plans for the future, confidence has greatly increased. Over the past year, under the leadership of the management teams of each center, the head factory, and branches, and with the joint efforts of all cadres and employees, sales and profits have maintained steady growth.

Review of Work in 2023  

1. The company's overall operation is healthy and upward, achieving certain results:  

In 2023, total sales exceeded 200 million yuan, a net increase of nearly 40 million yuan compared to last year, a growth rate of 30%, achieving simultaneous growth in sales scale and profit. The annual cumulative sales of the stinky tofu product exceeded 600 million packs. Five new provincial-level honors were awarded: Hunan Cultural Tourism Landmark Enterprise, Landmark Product, 2023 Listed Reserve Enterprise Recognition, Production Inheritor, and Hunan Food Culture Master. Seven new county-level honors were awarded: Advanced Unit in County Labor Competition, Advanced Team, Advanced Individual, Third Prize in the "Ankang Cup" Knowledge Competition, Advanced Grassroots Party Organization, Furong Model Post, and County Food Industry Special Contribution Award.

2. Annual company work overview:

1. Sales re-planned and laid out the market, improved multi-level channel planning and construction, strengthened deep cultivation and refined management in key areas, planned product series for high, medium, and low market demands, restructured the distributor team, and optimized various channel customers. 2. R&D focused on expanding and extending brand advantages, strengthening brand product imprint and special R&D, emphasizing Wanghui products' proprietary attributes and corporate personality imprint—spicy marinated flavor. Significant investment was made in raw materials and new equipment for trials, greatly improving the texture, puffiness, and stickiness of the raw materials, elevating product taste and quality to a new level. 3. Production made extensive adjustments and layouts for maximum capacity load, eliminated some outdated facilities and equipment, improved production efficiency of some products, and currently the basic capacity can support sales capacity of 300-500 million yuan. The 6S management method has greatly improved on-site process management. 4. The procurement team optimized product structure and raw material costs with professional knowledge and skills, solved unique supply management modes for raw material procurement, and combined dynamic and stock procurement methods, reducing procurement costs by over 7 million yuan annually. 5. The management center conscientiously provided service and supervision, strengthened external liaison and reception, ensured stable development of external relations within the region, dared to innovate and boldly reform, and led the promotion of the DingTalk information office management system, improving work efficiency.

These new achievements and honors this year embody the hard work and sweat of every employee and are the result of our joint efforts. Here, on behalf of the company and the management team, I sincerely thank all cadres and employees for their hard work and selfless dedication, and express the most heartfelt gratitude to those who tirelessly fight on the production front line!

Outlook for Work in 2024  

1. Strategic positioning and development direction:  

Through last year's adjustments and review, the company has redefined its main focus on snack foods, flour products, and bean products, while steadily promoting and optimizing three seasoning sauces. Summarizing over 20 years of operation, the company clearly positions its snack foods with a spicy marinated flavor as the main flavor type, deepening and expanding on this base flavor, strengthening consumer memory and the distinctive Wanghui flavor. In unified brand promotion, emphasis is placed on the theme promotion and publicity of spicy marinated flavor, building the company's 'Master of Fragrant Marinade' and spicy marinated flavor culture. "Spicy marinated spicy strips originate from Wanghui" clearly states Wanghui Foods as the unique inheritor and innovator of spicy marinated flavor, emphasizing the company's dedication and entrepreneurial spirit with "Over 20 years focused on spicy marinated flavor retail."

2. Strengthen responsibility and optimize processes to improve efficiency:  

Clarify department functions, optimize job responsibilities, continue to improve various systems, simplify approval processes, strengthen supervision of system processes and meeting resolution implementation, enhance job responsibility awareness and accountability, and ensure clear rewards and punishments. Use performance management to drive daily management, optimize work content and processes quantitatively, use data results as key assessment criteria, establish models and benchmarks, and optimize positions and personnel. Employees who propose reasonable suggestions or recover economic losses for the company will be rewarded between 500 and 50,000 yuan; those who violate company rules causing economic losses will be punished according to regulations.

3. Strict risk management and strengthen major project investment evaluation:  

Planning is essential for success. Strengthen income and expenditure budget management, control total funds dispatch and circulation, improve fund turnover and operational value, manage income and expenditure risks effectively, implement accounts receivable audit management systems, and apply graded control measures and mechanisms for various pre-approved credit accounts to ensure zero risk. To maximize the benefits of major company investments, project proposers must conduct pre-project management, and after thorough evaluation by the operations management team, decisions will be made. Projects must strictly follow budget preparation for income and expenditure, ensuring evidence-based and controlled spending.

4. Implement performance appraisal system and establish a mechanism linking salary to work performance:

To enhance the initiative of company cadres, the company implements a performance appraisal system with annual, quarterly, monthly, and weekly goal-oriented, refined, and data-driven management. Monthly performance analysis and management are conducted, key performance indicators are evaluated, and monthly salary calculations are linked to actual performance results, allowing each individual's value to be concretely reflected. Ultimately, this selects outstanding talents for the company and enables those who grow and progress to achieve better development.

5. Strengthen cost control to achieve increased revenue and reduced expenditure:

In today's increasingly fierce market competition, reducing waste in the production process, seeking efficiency from the production front line, improving product quality, and lowering production costs are basic requirements for sustainable development and essential for enhancing core competitiveness. The production center should collaborate with the procurement center based on market dynamics to optimize and configure the upstream supply chain, scientifically and reasonably prepare production, materials, and personnel to achieve smooth and orderly production and promote flexible capital turnover.

6. Optimize automated production, continuously innovate and develop new equipment, new processes, and new technologies to enhance product competitiveness:

The company has invested more than 30 million yuan to build the Pengcheng automated production workshop. After more than a year of operation, it has realized some value, but the production capacity load has not reached the basic standards expected during construction. Sales orders are uneven, equipment utilization rates are very high, and idle time is considerable. Due to limitations in space or equipment, the value of automated production has not been fully maximized. The company will adapt accordingly, maximizing the development of new automated equipment tailored to different product production processes, promoting automation coverage throughout the company, significantly improving product quality and capacity, reducing labor intensity, and improving working conditions and environment. The company's R&D and production center continuously innovates and overcomes difficulties, introducing the latest technological equipment, completing new extrusion technology for raw materials, and improving key technologies and processes, promoting refined and intelligent product processing.

7. Strengthen product quality management, implement "6S" management, and enforce food safety system standards to ensure food safety production:

Product quality is fundamental to the growth and strength of an enterprise. The company must establish a quality mindset from top to bottom, strictly define quality management standards according to system management requirements, rigorously control quality at the production site, improve product qualification rates, reduce customer complaints and claims, successfully pass customer on-site evaluations, and establish a good corporate brand image. Food safety is the lifeline of the enterprise; it must always be guided by the "Food Safety Law," rigorously enforce food safety production, ensure no occupational injuries during production, and no food safety incidents upon product release. At the same time, the company will continue to strengthen "6S" on-site management in offices and production workshops, focusing on prevention, maintaining cleanliness and order, and jointly safeguarding the corporate image.

8. Continuously explore new markets and accelerate production transformation and upgrading:

In the second half of 2023, with the joint efforts of the entire sales department, the company has preliminarily completed planning for markets, channels, products, and customers. Key regions have implemented a regional model, continuing to deepen market penetration, and product display and promotion have been extended to frontline markets, effectively increasing product distribution rates, with initial results already visible. To rapidly expand the high-end consumer market, the upgraded Feiwang Black Gold series products were officially launched to consumers at the end of September and have been validated by channels such as Zhongbai, laying a solid foundation for comprehensive product transformation and upgrading. In 2024, leveraging the publicity and promotion of the Spring Sugar and Wine Fair, we will continue to be market-oriented, enhance competitive advantages through technological innovation, and continuously achieve new progress for the company.

9. Increase talent recruitment efforts and enhance product R&D capabilities:

Looking ahead to 2024, we will face a more complex economic situation and fiercer market competition. Enterprises need to strengthen their talent teams, adhere to the strategy of "going out and bringing in," and continuously improve their comprehensive strength through learning and innovation.

In 2024, the company plans to recruit multiple undergraduate and graduate food science R&D talents, focusing on attracting high-level, precise, and cutting-edge technical talents with strong innovation and R&D capabilities, laying a foundation for developing new products and expanding new business areas. Additionally, we will fully utilize cooperation platforms with Hunan Agricultural University, Hunan Academy of Agricultural Sciences, and other research institutes, universities, and technology departments to enhance technological innovation and R&D capabilities, continuously creating new achievements.

10. Strengthen foundational management and skills training to build a learning organization.

In 2024, the company will improve the training system, using diversified forms and methods to conduct basic management and skills training for employees, regularly organize employee skill competitions, outdoor team-building for management, and employee skill assessments. This will foster a good learning atmosphere of "competition, learning, catching up, helping, and surpassing" within the company. Through training and learning, employees' professional qualities and comprehensive abilities will be enhanced to meet the company's development needs, promoting production management and intelligent manufacturing technology to reach a new level, greatly improving the company's overall strength and competitiveness.

The company's future development is a long and arduous journey, but I believe that with the faith and efforts of all employees present, and the united, caring, and continuously innovative team spirit, we will open a new chapter for Wanghui Foods, achieving even more brilliant results. I trust that everyone here will also reap more victories and achievements!

Finally, on the occasion of the upcoming Spring Festival, I sincerely say to all management staff: thank you for your hard work! I wish everyone a smooth work year, good health, and family happiness in the new year!

Thank you!