CHINT’s 2024 Vision: Integrating Innovation and Global Expansion

Held on January 15th, the 2024 New Year Conference of CHINT Group emphasized reinforcing integrated innovation and collaborative development, setting the stage for an ambitious year of global expansion. Despite challenging global economic conditions and market uncertainties over the past year, CHINT Group’s various sectors worked together to overcome difficulties, leading the way in innovative development. The upcoming year promises accelerated construction of new energy systems and bursting forth of new productive forces, with CHINT Group globally striving for new breakthroughs with unyielding determination.

At the conference, Nan Cunhui, the Chairman of CHINT Group, delivered the keynote report, with President Zhu Ximin hosting and highlighting the Group’s 2023 achievements and 2024 objectives. Wu Bingchi, the Group’s Party Committee Secretary and Supervisory Board Chairman, announced commendations for outstanding achievements and units within the Group. Leaders of various industrial ecosystems reported their developments and committed to 2024 goals. Progress on CHINT’s Digital Longitude and Latitude Project 2.0 and the development and application of their big data platform were also shared.

The conference was a hybrid event, with both onsite and online participation. More than 20 sub-venues were set up in various locations, including Hangzhou, Wenzhou, Shanghai, Jiaxing, Haining, Yancheng, Xianyang, Wuhan, Shenyang, Jinan, and Singapore, with over 3400 key employees attending.

In 2023, CHINT Group successfully navigated multiple challenges like slowing demand in traditional markets, fluctuations in emerging industries, continuous interest rate hikes by the U.S., and increased international trade barriers, showcasing its resilience in the face of global uncertainties and paving the way for continued global expansion. The Group’s revenue reached 155 billion yuan, with both revenue and net profit growing by over 25%. Zhu Ximin lauded the team’s bravery and innovation, advancing in areas such as integrated innovation and collaborative development: new energy, smart integration, backend construction, and global localization.

CHINT’s achievements included selection as a national “Digital Leader” enterprise, winning the first Zhejiang Intellectual Property Award, successful international ventures like the Saudi model, and significant advancements in digital and smart energy manufacturing, signaling the Group’s prowess in global expansion. The Group also led in solar photovoltaics and power supply, and actively engaged in emerging sectors like graphene and hydrogen energy.

The conference recognized 10 advanced units and 40 outstanding achievements. Wu Bingchi urged all units to follow these examples, focusing on the Group’s 2024 vision, continually strengthening integrated innovation, and promoting sustainable high-quality development.

CHINT Group aims to enhance its “211X” operational management capabilities in 2024, focusing on smart electricity, new energy, regional localization, backend integration, and innovation cultivation, fostering the foundation for sustainable global expansion. Executives from each sector presented their development reports and committed to their new year’s goals.

CHINT’s new energy sector plans to build a green energy ecosystem, transcending industry and economic cycles. The smart electricity sector will advance integration and deepen industry collaboration. The Group is committed to deepening its global localization, supporting global expansion operations with backend integration, and aiding industry innovation and cultivation.

CHINT Global

CHINT’s new energy sector plans to build a green energy ecosystem, transcending industry and economic cycles. The smart electricity sector will advance integration and deepen industry collaboration. The Group is committed to deepening its global localization, supporting global operations with backend integration, and aiding industry innovation and cultivation.

Digitization is a strategic focus for CHINT. The Group fully initiated the Longitude and Latitude Project 2.0, making significant progress in process optimization, organizational change, platform construction, and data application. Looking ahead, CHINT will continue to leverage data for decision-making and innovation.

CHINT Global

CHINT Group has now officially entered the second phase of its Digital Longitude and Latitude Project. In the upcoming year, the Group’s strategy will be guided by the “14th Five-Year Plan,” focusing on a major operational transformation to support the integration of various functions at the Group’s headquarters, integration of high, medium, and low voltage systems, backend integration, localization in overseas regions, and new industrialization.

In line with the progression of the Digital Longitude and Latitude Project, the Group is continually launching innovative applications on its digital platform, leveraging data for decision-making and innovation, critical components for successful global expansion. At the conference, Wang Rong, the Assistant President and Chief Information Officer of CHINT Group, updated attendees on the development and application of their big data platform. He emphasized that CHINT will continue to leverage the value of data, accelerating the construction and application of its big data platform, to truly make decisions and innovate using data-driven insights.

2024 marks the 40th anniversary of CHINT Group’s innovative development. In this significant year, filled with challenges and boundless possibilities, Nan Cunhui presented the development report for the new year. He observed that rapid global changes are reshaping the structure of global industry chains and business rules, with traditional industries facing challenges due to a shift in market dynamics. Amidst this complex and changing market and policy environment, he emphasized the need to uphold the ‘perseverance’ spirit, facing challenges head-on without complaints, and doing the difficult yet right things with a balanced approach towards uncertainties.

To meet the requirements of the Digital Longitude and Latitude Project 2.0, CHINT plans to drive process reengineering and the development of platform-based digital analysis and management capabilities, such as proactively preparing for AI big model technologies. The Group will also continue to strengthen its foundational management, accelerating the iterative development of technologies and innovative marketing models to support the new energy industry sector in overcoming industry cycles.

CHINT aims to systematically advance the integration of high, medium, and low voltage systems, fostering deep collaboration between industries and strengthening industry chains, crucial steps in ensuring a cohesive strategy for global expansion and optimizing the delivery of exceptional CHINT local services. The Group is also focusing on accelerating its globalization efforts, transforming business organization and management models to shift its overseas business strategically.

Additionally, CHINT is working on integrating research, production, supply, and service capabilities, consolidating backend resources across industries to provide strong support for frontline operations, a pivotal move in facilitating seamless global expansion. Finally, the Group is committed to enhancing its industry cultivation strategy, iterating its “One Institute, One Park, One Fund” 3+N model to build an ecosystem led by technological innovation and high-quality development.

Nan Cunhui giving a report

The year 2024 marks CHINT Group’s 40th year of innovative development. Nan Cunhui reflected on global changes and the complex external environment reshaping industries and business rules. He emphasized resilience and action in the face of uncertainty, advocating for a spirit of determination and innovation in meeting the year’s goals and continuing CHINT’s legacy of high-quality development in a ne

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