024 was a critical year for steady economic recovery and comprehensive social revitalization. Looking back over the past year, we navigated through thorns, embraced change, and collectively wrote a new chapter in economic recovery and corporate upgrading. From the budding signs of economic recovery in spring, to the surging waves of innovation in midsummer, to the bountiful harvests in golden autumn, and the resilient perseverance in the depths of winter, every step embodied the wisdom and effort of Jingyi people, and every moment witnessed the resolute pace of Jingyi's progress. The past serves as a prelude; the future holds even greater promise. 2024 has quietly passed, and 2025 is approaching, carrying new hopes and dreams, guiding us to stride forward with heads held high. On January 15, 2025, the Jingyi Group 2024 Annual Summary and 2025 Planning Work Conference, themed "Advancing Together, Creating Brilliance Together," was grandly held at Jingyi Hotel.

Jingyi group leaders, including Chairman Mr. Ouyang Weimin, along with cadres at the ministerial level and above from various business segments and functional centers, gathered together to review 2024 and look forward to 2025.

Group Chairman Delivers Opening Remarks

In his opening address, Chairman Ouyang, on behalf of the board of directors, thanked all employees and cadres for their hard work and dedication to the Jingyi cause over the past year. He stated that 2024 was an extraordinary year in the company's development history. The global political and economic situation remained turbulent. The external environment and situation we faced were not optimistic, posing even greater challenges to an already struggling Chinese economy – hindered exports, sluggish domestic demand, overcapacity, intense competition, and declining corporate profitability. Overall, including Jingyi, many industries and enterprises experienced unprecedented pressure in their operating environment. Despite these difficulties, all Jingyi people remained committed and stood together. Under such challenging circumstances, we still achieved a series of breakthroughs in qualifications and capabilities, technological innovation, and market performance.

[Image: Group Chairman Mr. Ouyang Weimin]

Heads of the group's main business segments briefly reviewed their work in 2024, focusing their reports on sharing development ideas and plans for 2025 with the conference.

      In response to the decline in safety production performance in 2024, the conference arranged a special report on the safety production situation. The group's safety director reported on the 2024 safety production work and outlined the deployment for safety and environmental protection work in 2025. Group Vice President Mr. Luo Yunjun, on behalf of the company, delivered a comprehensive summary of the group's work in 2024. The summary reviewed the overall global and Chinese economic conditions in 2024, as well as the development of related industries such as automotive, rail transit, and cold chain. It released the overall operating situation of Jingyi Group. In 2024, Jingyi's transport refrigeration industry segment achieved significant growth, while Jingyi's whole-cold-chain preservation industry segment and special purpose vehicle segment also made major breakthroughs. The group's annual work summary fully affirmed the achievements of the three major industrial segments and functional centers throughout the year, while also pointing out a series of existing problems and shortcomings.

[Image: Group Vice President Mr. Luo Yunjun]

Group Executive President Mr. Ouyang Weiye presided over the commendation ceremony for outstanding collectives and individuals of 2024, honoring the group's excellent employees, exemplary cadres, and outstanding teams. Awards presented included the Technological Progress Award, Outstanding Patent Award, and President's Special Award for 2024.

[Image:Group Chairman Mr. Ouyang Weimin]

2024 Commendation Ceremony

Vice President Luo Yunjun, on behalf of the group, released the "2025 Development Outline and Business Plan." The plan includes forecasts for the global economy, Chinese economy, and related industries pertinent to the group in 2025. It outlines Jingyi Group's overall development plan, medium-to-long-term development strategy, medium-term development plans, and the general work approach for 2025. Concurrently, it releases the group's overall business objectives for 2025, annual budget, staffing plan, as well as KPI targets and work guidance for each business segment and functional center. All departments are required, based on the group's overall requirements, to research and explore pathways to achieve the goals, formulate corresponding countermeasures based on these pathways, and refine these countermeasures into systematic action plans to ensure revenue and profit growth for each of the group's business segments in 2025.

[Image: Group Vice President Mr. Luo Yunjun]

Minister Liang Yaoqiang of the Human Resources and Administration Center read out the "Group's 2025 Main Cadre Appointment Letter."

[Image: Group minister Mr. Liang Yaoqiang]

2025 Task Agreement Signing Ceremony

Finally, Group Chairman Mr. Ouyang Weimin delivered the 2025 work mobilization speech. He urged that in the new year's work, we must address existing problems and deficiencies by formulating practical corrective and preventive measures for systematic improvement. We must actively explore pathways for revenue and profit growth around the annual goals and plans, formulate corresponding countermeasures and plans, and use concrete measures and actions to provide support for the enterprise's development in the new year, achieving the common growth and elevation of both the company and its individuals. The group requires grasping opportunities arising from industry transformations to enhance the product strength, brand power, and market share of Jingyi bus air conditioning, further leveraging its role as a mainstay; fully utilizing the enterprise's years of accumulation and沉淀 (experience/expertise) in the field of air conditioning and thermal management to vigorously promote the research and application of complete vehicle thermal management solutions for new energy commercial vehicles, seizing the market with leading and differentiated product solutions; seizing the development opportunities in the vehicle refrigeration unit market to systematically promote the rapid improvement of Kingboost's refrigeration unit technology quality and the rapid growth of product market share; building core competencies in rail vehicle air conditioning overhaul and maintenance, expanding the rail transit vehicle air conditioning service market, and promoting the steady development of the rail transit air conditioning division; accelerating the promotion and application implementation of whole-cold-chain preservation equipment and solutions in specific fields, contributing transformation experience and performance growth; and focusing on the group's industrial布局 (layout) and the industrial planning of Zhaoqing High-tech Zone to continuously promote the development and cooperation of the Zhaoqing High-tech Zone industrial base, activating resources to create benefits.

[Image: Group Chairman Mr. Ouyang Weimin]

Looking Ahead, Continuing the Endeavor

Today's achievements stem from vigorous struggle; tomorrow's great cause requires even more persistent effort. The new development blueprint is slowly unfolding. Standing at this new historical juncture, we are full of confidence and anticipation as we step into a new era brimming with hope and challenges. In 2025, let us "Advance Together, Create Brilliance Together," laying a solid foundation for the realization of the beautiful vision of a "Century-old Jingyi, Billions-worth Jingyi"!