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The Chairman's Speech at the 2020 Group Annual Meeting
Source: 原创     Time:2020-03-26       Publisher:admin
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On January 19, 2020, the 2019 work summary and commendation meeting of Shining Star Group was held as scheduled, and Chairman Yan Yu made an important speech at the meeting.

Why Did We Transform

First of all, the chairman made a comprehensive introduction and comb on why the group should be transformed to the management and colleagues who attended the meeting. The chairman pointed out that at the 2019 annual meeting, it was also said that the group was considering transformation since in 2018, in fact in 2017 and at the 2018 annual meeting, it was also said why the transformation was needed. Now 2019 has passed, and at the 2019 annual meeting, it has also been said that the survival situation of China's private enterprises is only in terms of real estate, because the group used to be dominated by real estate. However, according to official statistics, 487 real estate companies went bankrupt or went bankrupt in 2019. In fact, this is only official statistics. There should be at least thousands of real estate companies, because there should be tens of thousands of real estate companies in China, large or small. I expressed my own view at the annual meeting last year that China's real estate has a development cycle of three to five years at most, which is why the group has to transform.

Secondly, why did we transform, where to go, the group has also gone through a lot of research and discussion. The chairman said that 2019 also said many times why the transformation, today there are many new executives, new teams, it is necessary to tell you again, in fact, the group began to think about it in 2015, formally decided to transform was in 2017, the main transformation direction is the mining industry, has repeatedly organized the management team to discuss, based on the analysis of the nature of the real estate industry, that real estate can not be become the sustainable development industry of Shining Star Group. Therefore, it has been proposed to develop artificial intelligence, medical care and health, the Internet and other industries, but from the technical, genetic and other aspects of analysis are not suitable for the development of Shining Star Group, because we do not have the congenital factors.

Therefore, Shining Star Group finally chose to transform to mining development, for four reasons. "First, combined with China's ‘Belt and Road Initiative’ initiative, the Chinese government supports Chinese enterprises to ‘go out’ to develop infrastructure and resources industry construction, and the mining industry is one of the resources. The reason why our government supports enterprises to ‘go out’ to develop resource construction is that China is a poor mineral country, 60% of China's resources are imported, China is also a big country, and resources will be one of the major factors restricting China's development. So, only with the support of the state, is it possible to develop this industry, including from financing, foreign exchange and other aspects of support. Second, the development of the mining industry cannot be replaced by any scientific and technological development or future development. But, many industries, such as lawyers and driving, may be replaced by artificial intelligence, but basic raw materials are needed in all industries of future development and with the development of economy and technology, the demand for resources will become more and more exuberant. Third, in addition, in the past, I have a certain understanding of the mining industry and some practical experience, which provides a good foundation for me to quickly familiarize myself with the industry. Fourth, the mining industry is an industry that can become stronger and bigger quickly within a certain period of time. To study many mining enterprises in China, the conditions for most mining enterprises to develop the mining industry at the beginning are not very good, but in just a few years, the company has been listed, with a market capitalization of as little as tens of billions or hundreds of billions. This is only a study of China's mining enterprises, in fact, there are many such enterprises in the world. In other words, the mining industry can achieve a market capitalization of 10 billion to hundreds of billions within 10 years, and the mining industry can become bigger and stronger within a certain period of time. " The chairman said.

Finally, the chairman pointed out that it should be noted that the mining industry we are talking about today is different from the traditional development of the mining industry at home. We mainly focus on overseas countries such as Southeast Asia, South America and Africa. We learn from mature industry companies, build an international talent team, and set a 10-year development goal, that is, to achieve a market capitalization of RMB 100 billion in 10 years. At the same time, we have formulated 3-year, 5-year, 7-year and 10-year development plans, and the new executives and teams present here are invited to join Shining Star Group that is in order to achieve this goal. Waiting for the mining industry to achieve the listing goal, and then in turn to assist the group's well-developed industries to continue to develop, such as commerce, property, hotels, hospitals and so on, it does not mean that a certain industry is not important, but that every industry is important. The most important thing is that each sector needs to continue to specialize and build an excellent team, so that the group is willing to support your development. Whether the management ability, business ability and future prospect of each industry are worthy of the development of the group as the secondary and tertiary industry, which requires the management team of each industry to continuously improve the management ability and provide decision-making for obtaining the support of the group.

What Managers We Need

The chairman said that choosing talents based on ability: let our employees display their ability fully, we use the capable ones, replace the average ones, relief the incapable ones, which is the employment principle of Shining Star Group. The staff of the group has changed greatly in the past two years, especially the changes at the management of the group are particularly prominent. Now present at the meeting, there are many new leaders have joined, and many old leaders have disappeared. Why? Because some of the management who did not sit here to attend the annual meeting because they are failed to fulfill their annual work goals and responsibilities, and their work plans have not been completed. Since the goal responsibility letter was signed in 2019, I have communicated with problematic managers many times and said that work goal achievement is one of the important indicators to assess senior executives. Goal realization shows that you have management ability and leadership ability. The goal is not achieved, the plan is not completed, the budget is not completed, that shows that you do not have the ability to be a leader. Therefore, for some of those who continue to be appointed today, we should not rest easy, because part of your task has not been completed and the group is still under assessment period. Similarly, every executive who signs a letter of responsibility for goals today needs to understand that achieving responsibility for goals is the only basic condition that can continue to stay here, because if an enterprise is to develop and survive, we must achieve our goals.       

The chairman pointed out that in the past, many senior executives often liked to make excuses and completely deviated from the corporate style of "resolutely obeying and not making excuses" in the group's corporate culture. Some executives lack their own ability, find excuses inside and outside of the job, or even find excuses from their own team, or even fail to build their own team when they get to the job. So an important indicator to examine senior executives is whether you have the ability to build a professional team to achieve your work goals. Instead of complaining about no staff at work, this is a typical excuse. There are also some executives who often find excuses to say that the staff in their team are not good, and will not find problems from themselves. In fact, if the team is not good, you are not good, so can you cultivate a high-quality team? Whether or not you have the ability to lead the team to achieve work goals is also one of the criteria for assessing whether senior executives are qualified leaders.

The chairman said that we must adhere to the enterprise style of firm obedience and no excuses. The task in 2020 will be even more arduous, and accomplishing the target task is the only condition under which we can continue to fight side by side. Both department heads and company executives here need to have a high degree of awareness and bear the responsibility instead of making excuses.

What Are The Key Works In 2020

The chairman stressed that although the group's current transformation is based on mining development, it does not mean that other industries are not important, but balanced development. In 2020, we should first focus on the newly opened, imminent opening and construction projects. The group's Strategic Enterprise Management Center must ensure that the newly opened Kunming Inkyness Hospital, the Yangon Kantharyar Centre in Myanmar and the Dara Sakor Happy Home Master Resort in Cambodia complete the annual work plan and budget. The second is ensure the Shining Star Hotel Apartment the completion of the plan and budget after opened. In addition, the completion of the construction of the New Asian Athletics Park culture and brigade complex and the investment promotion work before the opening cannot be delayed. Because the work plan of each link is not realized, it will affect the overall development of the group.

The chairman said that the second priority work in 2020 is the target goal of the mining industry, which is very clear, that is, the Bolivian project will start production of the first smelter in May of this year to achieve revenue. This goal must be achieved without doubt by the relevant team. After is to achieve the set target to expand production by October next year, and on the basis of determinable safety, we can move forward boldly and increase production, so as to lay a solid foundation for the group's mining sector to achieve the goal of listing.

Finally, the chairman said that every link is crucial for the financial management center of the group to provide financial guarantee for the development of the group, only when every link is done well, we will have the confidence and ability to achieve the first three-year development goal of the transformation of the group. Only by achieving the success of the initial transformation of the company, will it be possible to realize the company's development plan for the next five, seven, and 10 years. It is also possible to provide protection for the well-developed industries of the group and ensure that the well-developed industries continue to develop.

Therefore, we should strengthen our confidence in 2020. As long as we have confidence, the 10-year development goal of Shining Star Group will certainly be achieved. Let us work together in 2020 to create a bright future for Shining Star Group.

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