On January 8, 2019, ShangGong Group held the 2019 Annual Meeting in the lecture hall on the second floor of the headquarters. The meeting was chaired by Mr. Zhang Min, chairman and president of the Group. Mr. Li Jiaming, the Group's Executive Vice President, made the "Group Work Report"; Mr. Li Xiaofeng, the Group’s Vice President, made the "Group Sales Report"; Mr. Xia Guoqiang, the Group’s Vice President, made "Group Production and R&D Report"; and Mr. Zhao Lixin, the Group’s Assistant President, made "Group Budget Report".

At the meeting, Mr. Eickhoff, Executive Director of DA AG, Mr. Li Jinning, General Manager of Tianjin Richpeace, Ms. Zhang Ping, General Manager of Shensy, and Mr. Ling Jun, General Manager of DA Manufacturing, made speeches respectively.

Finally, Mr. Zhang Min, Chairman and President of the Group, made a concluding speech. Mr. Zhang Min made a profound explanation on the work performance in 2018, the opportunities and challenges faced in 2019, the analysis of existing problems, how to transform into customer demand-oriented enterprise groups and how to overcome difficulties, reverse cyclicality and achieve sustainable development, etc..

Mr. Zhang Min emphasized that the system determines the mechanism and the change determines the development. In the new year, in the face of the unchangeable globalization and market-oriented economic development trend, all the Chinese and foreign enterprise managers of ShangGong Group should have a global market outlook, a comprehensive strategic view, and a global development concept, and help each other in the same boat. It is necessary to vigorously promote the comprehensive reform of the organization that is oriented to the needs of customers. All enterprise departments will adjust the system based on the rapid response to the market, and the salary distribution of the cadres and employees should be based on economic benefits. It is necessary to further improve internal strength, streamline procedures, and streamline the administration, reduce expenses and increase efficiency. We must resolutely overcome the ideological and emotional feelings of self-satisfaction and self-sufficiency formed by the growth of corporate profits in the past few years, advancing with the times and innovating thinking. We must have a sense of crisis, be prepared for danger in times of peace, advocate hard work, and reduce expenses. The Group must seize market opportunities, invest and/or financing in a timely manner, explore and promote the moderate diversification of manufacturing products. 

As the leading company in China's sewing equipment industry and a representative of Shanghai manufacturing, it is necessary to accelerate the construction of Taizhou intelligent manufacturing base in China and the Bensheim R&D pilot base in Germany, and consolidate the Group's leading position in the global industry. Meanwhile, this year will usher in the "Butterfly" brand for centenary, and we would like to take this opportunity to invite global partners to celebrate and seek common development and cooperation. Standing on a new starting point, facing the market opportunities and challenges, let us join hands and work together, work hard, and write a beautiful chapter of ShangGong Group!

Mr. Qiao Junhai, Chairman of the Board of Supervisors, Mr. Fang Haixiang, Vice President of the Group, Mr. Zhang Jianguo, Deputy Secretary of the Party Committee and Chairman of the Labor Union, and other more than 60 manager from the Group’s parent company, and members of the leadership team of each branch and subsidiary attended the meeting.