The 2018 Strategy Conference of TK Holdings (“TK”) was held at the conference hall at the first floor of Building J on Oct.24, 2017. Mr. Rance P.L. Lee, President, Mr. Weng Jianxiang, CEO, Mr. Zhang Fanghua, Executive Director and CFO, Mr. Li Liangyao, Executive Director, Mr. Lu Gongshan, General Manager of the jig factory, and Mr. Lv Shuzhen, General Manager of the injection molding factory of TK Holdings, and Mr. Yu Yaozong, CFO, Ms. Zeng Xieqin, Director of HR Department, Mr. Weng Jianji, General Manager of the Facilities Planning Department and Mr. Xing Fuzhi, manager of the Internal Auditing Department of the Group attended the conference.
After three decades’ development, what stage is TK Holdings at? At the strategic conference this time, President Rance P.L. Lee proposed “the thinking of life,” and introduced Ichak Adizes’ Managing Corporate Lifecycle. According to Ichak Adizes, corporate lifecycle consists of four stages and ten cycles. The rule of lifecycle is composed of four stages from incubation to aging. We should not go against the rule; instead, we should focus on how to breed or seed during the whole process. In such way will we generate entities like TK Holdings one after another so as to resist aging of the corporation. On the basis of text, this theory was illustrated by simple and understandable pictures.
Mr. Li also took the century-old enterprise Lee Kum Kee as an example for interpreting the spirit of “a forever enterprise,” by which he provoked the thinking of all attendees on the current development stage of TK Holdings. By means of expounding in details the corresponding model required in the development process, he further encouraged the attendees to reflect on the operating and management models of the two factories. Moreover, Mr. Li suggested that TK should maintain optimization on the original basis of the injection molding business, decrease the quantities, increase the volume and utilize the current capacity to incubate new businesses. The jig factory should develop in the direction of an expert-style one, aiming to become professional and sophisticated and win the market by the quality of its products. Also Mr. Li insisted that TK should adhere to the management concept of “2-3-3.”
Afterwards, Mr. Weng Jianxiang, the CEO, introduced the development ideas and objectives of the overall businesses of TK Holdings and said that the Company was continuously advancing towards the objective of a high-efficient jib and injection molding expert. He also announced the long-term development goal of TK Holdings for the period of 2022 to 2026 that “we should develop TK Holdings into a well-known and listed group company, with the market value of more than 5 billion Hong Kong dollars and the sales volume of the Group of more than 5 billion Hong Kong dollars.” As for its medium-term development goal for the period from 2019 to 2021, the Company will achieve the annual growth of 15% in the current injection molding and jig businesses and form the business and technological expert team in order to satisfy the business and technological requirements of the Grade-1 clients worldwide; it will improve the merger and acquisition project controlling capability, strength the capital application and use investment and acquisition and merging to enhance the capital returns and business development speed. For the short-term development objective for the year of 2018, the Company will ensure the sales growth target and sustainably expand the business and technical expert team; it will clarity the Industrial 4.0 Vision and the roadmap of implementation; the product roadmap of the TKM standard business unit will enhance the large die mold sales; the precision business unit will increase the sales of medical and packaging businesses, the mold cavity mean value and die average added value, its efforts will be focused on large clients and projects; TKP will increase the sales of those other than consumer electronics, and conduct risk management on Polycom’s business and that in East China; in the aspect of strategy implementation, the investment and implementation of resources will be aligned with the strategic target. In the aspect of the support from the Group, a major M&A project will be completed within the year, and the business development space will be further expanded; the cost/expenditure budget will be effectively controlled so as to control the management and administrative costs; and discussion will be conducted on the balance of the long-term and short-term incentives within the performance and remuneration system.
The general manager of the jig factory, general manager of the injection molding factory, and the heads of the labor union and the logistics functions within the administrative system, the financial department, the HR department, the facility planning department and the internal auditing department of the Group had respectively reported their medium and long-term strategies as well as the key work of 2018 at the conference.
The general manager of the jig factory, general manager of the injection molding factory, and the heads of the labor union and the logistics functions within the administrative system, the financial department, the HR department, the facility planning department and the internal auditing department of the Group had respectively reported their medium and long-term strategies as well as the key work of 2018 at the conference.
After the conference, Mr. Rance P.L. Lee, President of TK Holdings, made a summary. He affirmed the development trend of the Group in 2017. In the past, TK Holdings was a stronger enterprise in the competition; in the future, it will require more fighting capability to adapt to the great change in China. Looking back, we see that TK Holdings had made abundant results; looking into the future, we know that the Group has a long way ahead with heavy responsibilities. TK Holdings will adhere to the corporate culture of “common development and progress” and “practicality.” With the excellent craftsmanship, we will constantly enhance our risk awareness, innovation capability and insight. With the same destiny, objective and conducts, we will advance to the front of the world with steady steps. Let’s joint hands to create a beautiful future for TK Holdings!