The Sixth Third Meeting of the Board of Directors of Jinan Ludong Refractory Materials Co., Ltd. was successfully held.

Published Time:

2025-02-20

The 6th Third Board Meeting of Jinan Ludong Refractory Materials Co., Ltd. was successfully held on December 26th and 27th, 2024, in the east meeting room on the second floor of the company. The meeting was chaired by Mr. Fang Qiang, Chairman of the Board. Ms. Yamada Tomonaga, Vice Chairman of the Board, Mr. Kinoshita Hito, all directors of the company, and attendees participated in the meeting.

On December 26th and 27th, 2024, the third meeting of the sixth session of the board of directors of Jinan Ludong Refractory Materials Co., Ltd. was successfully held in the east meeting room on the second floor of the company. The meeting was chaired by Mr. Fang Qiang, Chairman of the Board, and attended by Ms. Yamada Chie Naga, Vice Chairman of the Board, Mr. Kinoshita Hito, all company directors, and attendees.

At the beginning of the meeting, General Manager Fang Qiang delivered a speech. He stated that although 2024 was a year of ups and downs, the company gained valuable experience. Amidst the changing international and domestic market conditions, we constantly faced various uncertainties. The international market situation is complex. The global economic landscape is constantly adjusting, trade frictions are frequent, and policy adjustments in some major economies have brought chain reactions to the global market. In the face of this severe economic situation, all employees of Ludong persisted in their work, united and cooperated to overcome difficulties, and embraced challenges and changes. The company continuously adjusted and improved various measures, strengthened team building, actively explored the market, and achieved good results this year.

In 2024, the situation in the steel industry became increasingly severe, with per-ton steel profits extremely low, almost at a historical low, and debt ratios rising. Many steel companies suffered losses; some faced bankruptcy restructuring, while others had to resort to measures such as shutdown, suspension, and layoffs to save themselves. Both the production and sales sides of the steel industry chain felt the industry's "cold winter." In early December 2024, the Central Economic Work Conference held in Beijing made an overall deployment of the macroeconomic situation for 2025, conveying a more positive policy signal. The meeting proposed: improving investment efficiency, comprehensively expanding domestic demand, leading the development of new productive forces through technological innovation, constructing a modernized industrial system, expanding high-level opening to the outside world, stabilizing foreign trade and foreign investment, and deepening the reform of the investment promotion mechanism. I believe that with the joint efforts of Tokyo Trading Co., Ltd. and Shinagawa Refractory Materials Co., Ltd., we will steadily advance step by step to ensure the stable and healthy development of the company.

To ensure the goals for 2025, in the face of the complex and changeable steel market situation, we will control risks and carefully assess each cooperation contract to ensure the healthy development of the company. We will increase efforts to promote the development of the KOBM technology market, establish a special team, and develop new markets with the support of Shinagawa Refractory and Primetals. We will strengthen internal management, reduce costs and increase efficiency, adapt to the market, and ensure the maximization of company profits. While improving the ERP system, we will promote the integration of informatization and industrialization management. We will accelerate the company's relocation efficiency, reduce existing environmental risks, and ensure the healthy and stable development of the company. We will strengthen talent introduction and cultivation to lay a solid foundation for building a high-standard, high-level, and modern new factory.

Yesterday's success brought today's joy, and today's efforts herald tomorrow's glory. In the new year, opportunities and challenges coexist, hope and difficulties go hand in hand. We would like to thank Tokyo Trading Co., Ltd. and Shinagawa Refractory Materials Co., Ltd. for their support and trust. In the new year, the board of directors will continue to lead all employees to work together in unity and strive to achieve the company's strategic goals and maximize shareholder interests! Let us work together to create more beauty and happiness in the new year.