Forge Ahead on a New Journey with Determination | 2023 New Year Address of Li San Yim, Chairman of the Board of Directors of Lonking
Forge Ahead on a New Journey with Determination
— 2023 New Year Address —
Li San Yim, Chairman of the Board of Directors of Lonking Holdings Limited
The return of spring marks a new beginning.
The year 2023 is approaching. On behalf of the Board of Directors of Lonking and also in my own name, I would like to express heartfelt gratitude and extend the best New Year wishes to all cadres and employees of Lonking and their families, the company’s agents, suppliers and users, officials of Party and government departments at all levels, and friends from all sectors of society.
Together, we have come through 2022, an extraordinary year.
In 2022, Lonking withstood the adverse effects of the global economic downturn and COVID-19 pandemic, and the test of the downturn in China’s engineering machinery industry. It was not easy, but Lonking endeavored to live up to the expectations. Making concerted efforts with all agents, Lonking became a leader in the market of loaders, the main product of the company. Besides, forklifts, other products such as excavators and road rollers also seized some share in the highly competitive market. In 2022, Lonking achieved remarkable results in the development of the international market, and its export value continued to grow significantly. The company’s products have gained fame and come to the fore in the international market. Lonking made every effort to consolidate the foundation for development, and comprehensively upgraded its technology research and development and quality control. The company launched a series of new products that meet China IV vehicle emission standards and European and American emission standards, and it won the Quality Award of Fujian Provincial Government. Lonking attaches great importance to the operation quality and tries to ensure that the agent channels are reliable and healthy. It recorded an operating cash flow of more than one billion yuan in 2022. At the end of the year, both the debt-to-asset ratio and the risk of accounts receivable of Lonking were the lowest in the industry. With abundant cash, the company had no bank loan.
What’s past is prologue. As we bid farewell to the old year, the year 2023 we are looking forward to is beckoning. Although the future is difficult to predict, we don’t feel confused.
We firmly believe in the power of times. In this era when engineering machinery enjoys bright prospects, China’s engineering machinery is climbing to the top of the world. We should seize the moment, believe in the great era, and believe in the power of China!
We firmly believe in the power of recovery. The impact of the downturn in the industry and the pandemic will diminish. Every cloud has a silver lining. As long as we work hard to consolidate the foundation, we will usher in an upturn.
We firmly believe in the power of Lonking. The company was the first to accurately predict the arrival of the downturn, and it fully prepared for all sectors of business and all aspects of work. Lonking and its agents are the healthiest and most stable teams, with a strong ability to resist external risks and the strength to work hard, refine their business, strive for every order, and make every endeavor to deeply participate in the competition.
We believe in the power of teamwork. Lonking has gathered a large number of people with various talents and lofty ideals from all over the world. It has been favored and recognized by users, supported by governments at all levels and people from all sectors of society, and helped by all agents and suppliers. This is a team that can ensure sustainable and high-quality development and a team that will act boldly and be able to win every battle.
Dear friends, let’s set out! In the New Year, let us take solid steps toward the light of hope, forge ahead on a new journey, and create a better future for Lonking!