Mr. James Zhang: Build Our Global Market Network with an In-Depth Layout

2024-03-25

At the beginning of 2024, YIZUMI released its 2023 Financial Results Preview. Its revenue from operations is expected to increase by 11.6 percent YoY to around 4.1 billion Yuan, setting a new record. Behind the figures are the company's concerted efforts to actively seize business opportunities, promote the global strategy, focus on technology innovation, and continue to offer more diverse products to customers around the world.

YIZUMI is ready for takeoff from the new starting point. Beginning in April, YIZUMI will participate in CHINAPLAS 2024, NPE 2024 and other large-scale and influential exhibitions worldwide. Meanwhile, facing an increasingly competitive market, what new initiatives and plans will YIZUMI reveal?

To find out more, we have interviewed Mr. James Zhang, the deputy managing director of YIZUMI and general manager of the injection molding machine division. He said, "As an equipment manufacturer, YIZUMI will take technological innovation as driving force, deeply explore the global market, focus on meeting customer needs across various industries, develop application technologies and solutions with competitive advantages, create value for customers, and pursue sustainable development."

Focus on green tech innovation

to empower breakthrough development

In April last year, YIZUMI held the YIZUMI CONNECT 2023, where more than 1,000 guests from all over the world gathered in Shunde, China, witnessing its advancement in technology. At the conference, YIZUMI put forward the vision of "To be a world-class molding equipment solution provider," aiming to become the world's top five in injection molding machines, top three in die casting machines, and top two in rubber injection machines.

In response to where this confidence comes from, Mr. James Zhang said confidently, "The corporate strategic plan is a well-thought-out decision grounded in reality. Of course, achieving these goals requires us to reach a relatively high level in various aspects, including product innovation, technological innovation, operational quality and efficiency, and a globalized customer service system."

Currently, a new round of global technological revolution and industrial transformation is unfolding vigorously. Pursuing high-end, digital intelligence, and low-carbon development has become the mainstream in the equipment manufacturing industry. Adhering to the principle of "Think Tech Forward" and development path based on "energy-saving, eco-friendly, efficient, cost-effective, and ease-to-use" technologies, YIZUMI is exploring its way to high-quality development through technological innovation, product innovation, innovative support service management, empowering practice, and leading business.

The future competition in the industry will be reflected in the diversification, intelligence, and digital development of product technologies. Regarding this, Mr. James Zhang emphasized, "In the efforts to connect advanced molding technologies of China and Europe, YIZUMI focuses on the development of molding technologies that allow material recycling, equipment and processes for biodegradable materials, lightweighting technologies, and composite material molding technologies to meet the requirements of polymer material molding applications in various industries, and to bring about significant changes to the R&D in the traditional manufacturing industry."

Deliver better value

to customers with 70+ new products

Looking back at 2023, Mr. James Zhang has deeply felt the intensified competition in the industry. Macroeconomic recovery was below expectations while the global restructuring of the industrial chain brought about a lot of uncertainty. However, he has also observed the opportunities emerging from the rapid development of China's new energy vehicle industry. In 2023, for example, YIZUMI's revenue from the automotive industry climbed quickly. The business with the automotive industry alone has contributed more than 30% of its revenue, making it the fastest-growing sector among downstream industries.

Mr. James Zhang stated that the reasons behind this were thanks to YIZUMI's long-term focus on industry customer demands, market development, and continuous exploration of new products and processes to meet customer needs. "Among the customers we serve in the automotive industry, there are not only domestic brands such as BYD, GWM and LEAPMOTOR, but also multinational companies in the automotive parts industry such as Röchling, Marelli and Montaplast, highlighting our comprehensive competitiveness." said Mr. James Zhang.

There is another noticeable trend. The number of our key customers in 2023 has continued to grow, along with the percentage of revenue they contributed. We also see healthy growth in terms of the number of customers and revenue contribution from downstream industries such as automobile, home appliance, healthcare, packaging, and 3C. In addition, our three-tier technical service system of customer-oriented local offices, regional support, and headquarters in China allows YIZUMI to lead industry peers in providing comprehensive service and technical support.

In 2023, YIZUMI further increased the investment of resources in the field of innovation, and managed and completed the development following the IPD process. YIZUMI introduced more than 70 new products into the market, constructing the most complete product portfolio for the global market and ten major downstream industries and fulfilling customers' needs for injection molding equipment to the maximum extent. YIZUMI also realized fast deliveries to global customers through a digital lean-supported operational excellence system.

Explore new globalization pathways

to support the effective implementation of corporate strategic goals

For the equipment manufacturing industry, in order to catch up with the advanced technologies and the industry benchmarks, it is necessary to integrate the advanced technology and actively expand the global market, achieving simultaneous development of quality and quantity.

The importance of the "Globalization Strategy" for YIZUMI speaks for itself. In 2023, YIZUMI's top management spent the entire year reviewing and rethinking its global market layout. They refined a new round of strategic planning upon actively exploring and researching the implementation paths and methods of the globalization strategy.

Over the past few years, YIZUMI has been using the Business Leadership Model (BLM) to organize and plan the development strategies for the Group and its divisions. The injection molding machine, die casting machine, and rubber injection machine divisions of YIZUMI currently have their own sales and support systems. With the expansion of its overseas business, YIZUMI is going to establish a new unit, the Global Business Development & Management Committee (GBMC).

According to Mr. James Zhang, "The core function of GBMC is embodied in building a collaborating system at the Group level. In the future, we want to strengthen our ability to serve global customers, which requires us to form a cross-division and cross-organizational collaborating system. Therefore, the construction of "a" new collaborating system is one of the most important tasks of GBMC."

According to the new development plan, YIZUMI will continue to enhance its strategic layout in overseas markets as well as the investment of resources to make YIZUMI’s overall layout more sound. In 2024, YIZUMI will complete the construction of software, hardware, and teams in several key markets (subsidiaries), including Mexico, Russia, Thailand, and Turkey, and get them up and running.

The mission of YIZUMI is "Global expertise - Solutions for the world." In the future, YIZUMI will significantly enhance its organizations, teams, and the ability to serve customers so as to support the landing of its strategic goals in the next few years. Sales in domestic and overseas markets are expected to account for 50% each by 2030, but this does not mean that the domestic market would stagnate. It signifies that the overseas market will grow faster and become YIZUMI's next growth momentum in the coming years.

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