After more than 20 years of accumulation and precipitation, Minami Acoustics has completed the gorgeous transformation from a manufacturer for single products to a solution provider. The Company successfully landed on the ChiNext board On June 9, 2023. In 2023.Minami Acoustics embraced a new milestone for its leapfrog development: the operating revenue in the period from January to September recorded a year-on-year growth of 61.43%. In the period from December 16 to December 17, 2023, Minami Acoustics organized the 2023 Management and 2024-2026 Development Planning Conference at Zhongshan Hotspring Resort to define the strategic development direction and objectives and further boost the management competence of the Company.
The purpose of the conference is to review the management performance in 2023 and consider the development planning for the future three years from 2024 to 2026. By virtue of the conference, we aim to promote Minami Acoustics and various subsidiaries to further collaborate with each other, and take advantage of the favorable conditions for an accelerated growth of the Company. More than 90 executives above the level of Manager of Minami Acoustics attended the conference, including Michael Feng, Chairman of Minami Acoustics, David Chen, Vice Chairman of Minami Acoustics, and Terry Zhang, CEO of Minami Acoustics.
[Keynote about Internal Management Planning]
Ms. Riana Feng, a board member of Minami Acoustics presided over the conference. She explained the objectives and significance, overall agenda and other arrangement of the conference in details, and introduced various sessions of internal and external keynote speeches one by one. Before the keynote about internal management planning,Mr. Andy Zhang, Assistant to Chairman, explained the new organizational structure of the Company, and introduced Deputy General Manager for various modules and responsible persons of Quality Center of Malaysia Minami. General Manager Zhang elaborated the targets and operation patterns of BU (Business Unit), and initiated the idea that “one person may move fast, while a group of people could go further” to call for concerted efforts of all colleagues.
The Planning for Financial Indicators, Financial Management and Investment Management in 2023 and Future Three Years - Mr. Chris Liu, Vice General Manager and Board Secretary of Minami Acoustics: he explained the Planning for Financial Indicators, Financial Management and Investment Management in 2023 and Future Three Years and analyzed the financial performance of the Company in 2023. To promote more key members to share the development, the Company newly added nearly 50 equity incentive objects. Meanwhile, he further analyzed the advantages and financial objectives of Minami Acoustics in the future three years, and worked together with participants of the conference to analyze the financial management system planning and investment management planning of the Company.
The Development Planning and Targets in 2024 for Medical Devices - Mr. Vincent Xu, Vice General Manager of Minami Acoustics and General Manager of Minami Medical, elaborated the Development Planning and Targets in 2024 for Medical Devices. Minami Medical (former name: Minami Communication) obtained the production license for medical devices in category II in 2019. General Manager Xu analyzed the current development status of medical devices of Minami and peers in the industry, and set forth the development objectives and planning of Minami Medical.
The Development Planning and Targets in 2024 for Minami Malaysia - Mr. Howchee, General Manager of Minami Malaysia, elaborated the Development Planning and Targets in 2024 for Minami Malaysia, and introduced the development history of Minami Malaysia and its development planning in future three years in terms of products, R&D, sales, staff &teams and risk evaluation. He expressed that Minami Malaysia will act in close cooperation with brother companies of Minami for mutual complementary and coordinated development. With the foothold of Penang, he hopes that Minami Malaysia will further extend its business presence in Southeast Asia, East Asia, Europe and America.
Three-year Development Planning and Targets in 2024 of Jiangxi Yudu Plant - Mr. Ethan He, Vice General Manager of Minami Acoustics and General Manager of Ganzhou Ouxiang: General Manager He introduced the basic information about Ganzhou Ouxiang, which had demonstrated a rapid development trend through continuous improvement in production capacity and revenue scale. In addition to continued efforts in maintaining the traditional advantages, he initiated that Ganzhou Ouxiang would further improve the product lines, and stress on team building about R&D, engineering, sales, etc. to boost the hard power of Ganzhou Ouxiang and inject a new driver for the development of Minami Acoustics.
The Three-year Planning and Improvement in 2024 of Operation Management -Ms. Woody Hu, Assistant of General Manager of Minami Acoustics: Ms. Hu analyzed the current situation of the Company and initiated the three-year planning for operation management, and shared improvement themes in 2024, including the regular operation analysis meeting system and digital transformation driven by financial data and focused on cost. The purposes of the themes are cost reduction & efficiency improvement, continuous improvement and in-depth pursuit of operation excellence.
Technological Support for the Development of Minami -Mr. CoPo Perng, Chief Technology Officer of Minami Acoustics: Chief Officer Peng delivered his keynote with the model of “Principle, Method and Techniques”. He elaborated the matrix product planning covering critical component modules, small finished products and system products in details, further introduced the development realities of fundamental science and practical technologies like the algorithm for acoustic, optical and electric materials, and initiated the future technological development direction of Minami Acoustics.
Centered on Major customers and Market -Mr. Terry Zhang, Chief Executive Officer of Minami Acoustics: CEO Zhang analyzed the current industry status and information about business and customers of the Company, and initiated the future market strategy and planning in consideration of the overall strategic objectives of the Company, covering future product positioning, market layout &planning and resource planning. In accordance with the principle of the consistency between Organization and Strategy, CEO Zhang elaborated the organizational structure for market, improvement direction of market capacity, and achievement of the sales targets supported by the organizational structure.
Leapfrog Development, Competition for the Future - Mr. Michael Feng, Chairman of Minami Acoustics: Chairman Feng expanded his explanation from three modules, including “Minami People, Minami Organization and Future of Minami”, and put forward the inherent characters of Minami of “Devotion”, “Introspection” and “Forging Ahead”. After IPO, the Company has to face a higher step and bigger stage, leading to a higher requirement for the organization of Minami. To continue our success story, all Minami people need to forge ahead together to share the achievements of the Company. In the future, Minami will offer an excellent platform to take advantage of the favorable opportunities from the integration between consumer electronics and intelligent healthcare. With the strategic layout in Guangdong, Jiangxi and Penang, we will devote ourselves to contributing to the career success of all Tianjian people that have ambitions and capabilities in work. That’s how Minami win respects from the industry, boost its risk resisting capabilities, and become a first-class enterprise in the world.
[Exposure drafts and preliminary draft determined through discussions]
Agenda in the afternoon on June 16: the conference discussed and determined the exposure draft of 2024 Minami Stock Plan Objectives and Assessment Measures, exposure draft of 2024-2026 Three-year Development Planning of Minami Acoustics and Basic Method on Management and Culture of Miniami Acoustics, Nanzhi Tang, Chief Financial Officer of Miniami Acoustics, clarified Operation Performance and Bonus Assessment Scheme, and then Terry Zhang, Chief Executive Officer of Miniami Acoustics elaborated and discussed Draft for Development Planning in Future Three Years and Basic Method on Management and Culture of Miniami Acoustics. As pointed out by Tang and Zhang, the scheme was still at the stage of preliminary draft, and it would be distributed by HR Department to relevant personnel for opinion collection. They hoped that the scheme would pool the wisdom of all employees and insist on collective decision-making to enhance the forward-looking, guiding and feasibility feature of the outline of development strategies of the Company.
[Keynote Speeches of External Experts]
In the keynote speech From Cadres to Performance, lecturer Tao Zhang introduced the seven-step cadre management of Huawei, and elaborated customer demands, cadre standards, performance management process, etc. He encouraged us to apply “A+B+C” principle to capture business opportunities, adopt “7-2-1 Model” to cultivate cadres, and quote the performance framework of Huawei to facilitate us to further learn about the performance management process, etc.
Doctor Wu delivered his keynote speech with the theme of “How to Serve International Major Accounts”. In the speech, he extended the elaboration from three aspects, including why we need to focus on major accounts, what kind of customer could be taken as major accounts, and how to serve major accounts in a constant manner. Director Wu initiated the importance of focus on major accounts, and introduced the definition of major accounts. Based on the competition strategies of the Company and experiences of industry benchmarks, he pointed out that superior services for major accounts required systematic analysis on the market and competitors, as well as demands of customers, and a customer relation management system (CRM) is of great significance to the success in this aspect.
CEO Zhang delivered a keynote speech of OTC Medical Device Industry. In the keynote, CEO Zhang introduced the theme from the analysis of the overall situations and characteristics of the medical industry, and analyzed the players and environment of the domestic market for OTC medical devices. In accordance with opportunities and challenges in the sector of OTC medical devices, he put forward some suggestions about the overall development direction of Minami Medical.
[Summary]
The conference of two days is successfully completed, and each participant benefits a lot from the conference. By virtue of the conference, we have a more specific direction and objective, as well as a more unswerving belief for our future.
In front of opportunities and challenges, we firmly believe that Minami will become a world-class enterprise in the future as long as we have clear strategy, definite direction and constant objective. Let’s work together for a brilliant future.