Chairman speech

Finding the Anchor of Growth

Currently, the domestic and international economic environment is becoming increasingly. Externally, we face strategic containment from the United States and other Western forces through "small yard, high fence" tactics; internally, market involution driven by excess capacity adds to the challenges. Private enterprises, already struggling to survive in the cracks, are finding it even more difficult. Specifically, in our oil service sector, although the oil industry is in a cyclical upturn and should be performing well, the oil service industry is gradually becoming a "flood discharge zone" for downstream enterprises to reduce costs and improve efficiency. Years of price wars have left most companies barely holding on, and a situation where bad money drives out good is taking shape. In fact, we are unknowingly entering a new era of competition, where private enterprises, once the main drivers of technological innovation, are gradually declining, forced into fierce competition in a red ocean market, with no end to the intensity. To survive in such a market environment, enterprises need not only strategic courage and wisdom in management but, more importantly, must cultivate the true capability to navigate uncertainty.
Goaltech has experienced long-term development fluctuations but has always aimed to transcend economic downturns and industry consolidation cycles to achieve counter-trend growth. Even during the most uncertain times for the company, we have steadfastly adhered to our corporate tenet of "standing on technology." We have continuously honed our technical expertise, persistently adjusted and optimized our market strategies, consistently upheld the integrated business model of R&D, assembly, and sales, and maintained a conservative operational logic of "cash is king." With focus, dedication, professionalism, and commitment, we have persistently tackled challenges year after year, gradually approaching the anchor of growth. Currently, on the technology front, the company has achieved innovation in its proprietary R&D system and optimization of its compatible systems. On the market front, this has enabled a dual-cycle approach both domestically and internationally. On the operational front, we have achieved breakthroughs in efficiency and effectiveness, finding a path to sustained growth. Moreover, the company’s long-term commitment to technology is beginning to bear fruit. Recently, we have been consecutively invited to participate in major research projects led by Guangdong Province, the Ministry of Science and Technology, and the Ministry of Natural Resources. This signifies that our value orientation of "entering narrow paths, cultivating lean fields, and walking dark roads" is generating positive feedback. Therefore, adhering to a long-termist philosophy is the first anchor for Goaltech to navigate through cycles and achieve growth.
We aspire to gradually become a hidden champion in the industry. Looking at enduring hidden champions across various industries, one common trait is the possession of a moat. Whether through technological innovation or business model innovation, they continuously accumulate resources, build momentum, and gather talent following the traditional Chinese wisdom of "building high walls, stockpiling provisions, and delaying claims to kingship." This enables them to possess the survival capability to break free from involution and carve out a unique path; the action power to step out of comfort zones and persistently self-renew; and the decisiveness to forgo short-term gains in pursuit of long-term success. In reality, becoming a hidden champion cannot be achieved through excellence in just one area; it requires striving to become a "hexagonal enterprise" to stand a chance. A hexagonal enterprise encompasses forward-looking R&D strategies, sustained technological investment, effective production organization, outstanding marketing planning, comprehensive pre-sales, in-sales, and after-sales service systems, and robust capital and financial operations. We still have a long way to go to become a hexagonal enterprise, but we have dreams, direction, and are consistently on the path to excellence. Therefore, continuous innovation and self-renewal constitute the second anchor for Goaltech to navigate through cycles and achieve growth.
We hope to become a unique force in the market, avoiding,compromise, and conventional paths. We rely on technology and embrace the dividends of the era. Therefore, we must be diligent: the path of technology is one of relentless, allowing no missteps or slackness. We must be united: the long-term pursuit of a shared goal requires mutual encouragement and support from companions on the journey. We must be clear-headed: unwavering in our goals despite short-term temptations, and steadfast in our principles despite. We must be resolute: the path of innovation is arduous, and great journeys begin with small steps. We are destined to be solitary explorers. Hence, maintaining our true character and firm beliefs is the third anchor for Goaltech to navigate through cycles and achieve growth.
The call to assemble has sounded once again, and our development goals are becoming increasingly clear. We are anchored to the long-term goal of becoming a hexagonal hidden champion enterprise. This is the grand narrative of our corporate ideal of "innovation first, pursuit of excellence," and a renewed interpretation of our two-decade-long effort across two generations to establish an industry benchmark. We will once again ride the wave in the era of artificial intelligence, fully leveraging the dividends of the times in the process of building a hexagonal enterprise. In an era where most enterprises are searching for direction amidst uncertainty, the fact that we can lock onto our goals and focus our efforts is itself extraordinary. If we can further harness our dreams, combine hard work with smart work, and carve out an extraordinary path of innovation, growth will merely be a series of milestones on our journey, marking each moment of our striving with a well-deserved recognition.