From January to September, Ronghui Property systematically studied and assessed the situation and tasks, accurately identifying ideas and objectives. By finding a balance point, they made concerted efforts in areas such as market layout, logistics network, business model, basic management and control, and digital platforms, resulting in steady improvement of key indicators.
Increased Market Efforts and Expanded Business Scale
Ronghui has made significant strides in market layout, expanding business scale. By starting with customer classification and price management, they comprehensively organized self-produced coal customers and developed customer classification systems, assessment measures, and pricing standards. This further standardized self-produced coal marketing management and optimized customer and pricing management systems.
Continuing the "knocking on the door" and "extending the chain" initiatives, they reached important agreements with strategic customers, signed cooperation agreements, and promoted business development. They also broadened their "circle of friends," collaborating with well-known enterprises in coal, coke, steel trade, and other sectors to expand market share. From January to September this year, they added 106 new strategic customers and 45 key customers, increasing the proportion of strategic and key customers by 8.24% compared to last year. In terms of international trade, they stabilized existing business chains while introducing various new products to access international markets.
Simultaneously, leveraging different tax incentives, they focused on the Yangtze River Delta, including Anhui, Fujian, Jiangxi, Guangdong, Hong Kong, and Macao, to tap into the coal trade market in South China. They established a strong foreign economic presence and held seven large-scale promotional summits. Six companies from Shanghai, Zhejiang, Hainan, and Ronghui Grain and Oil were inaugurated. The company participated in the 2024 Summer National Coal Fair, achieving 22nd place in the "2024 Top 50 Chinese Logistics Enterprises," climbing four places and gradually enhancing its competitiveness.
Expansion of Logistics Network and Business Model Innovation
In terms of route development, they capitalized on the advantages of multimodal transport ("river, rail, and sea," "public iron-water," and "dispersed transformation"), opening five new container routes such as Jining-Huai'an and Jining-Chengwu. They collaborated with six shipping lines and attracted two foreign trade shipping companies, COSCO Shipping and Haifeng International, to establish operations at Longgong Port. The revisit and retention rates improved significantly, with a heavy box rate of 58.78% and a return rate exceeding 20%, marking a 7% increase.
Utilizing Longgong Port's water transportation advantages, they developed China-Europe freight train services. In July, more than ten China-Europe freight trains operated from Longgong Port, transporting a total of 1,114 TEUs, primarily consisting of plates, pulp, and plywood. The main importing country was Russia, with ports including Alashankou, Erenhot, and Manzhouli. In the third quarter, the company innovated its operational model and successfully launched a new railway shipping system.
Operationally, they created an innovative transportation and marketing model at the Yangcheng Branch, breaking regional transportation monopolies and enabling direct container delivery from Zhongjiao Runyang to the mine. This strengthened the link between mining and port trade and established a new model for the transportation and marketing of self-produced coal, providing a framework for operations after the Jinqiao No. 2 well becomes operational.
Basic Management and Control Measures Enhancing Business Quality
In risk prevention and control, they strictly enforced "customer access," "due diligence," "project preliminary examinations," "customer credit," and "project establishment" to minimize project implementation risks. Additionally, they strengthened tracking management throughout the entire chain, conducting comprehensive supervision of every step in business development.
In talent management, they further optimized structures and personnel allocation to align with business needs. They conducted a comprehensive analysis of over 400 employees, evaluating the organization's human resources across various dimensions such as age, education, titles, and skills to accurately identify talent gaps and potential redundancies in key positions.
Recognizing scientific and technological innovation as a key productivity driver, Ronghui actively responds to national policy trends in the digital and platform economies. They are accelerating the promotion of digital platforms, with Ronghui Material's port trading company as a pilot, launching a unified system platform to enhance information levels.
In the fourth quarter, Ronghui will leverage its coal mine, port, trade, logistics, finance, and procurement resources. They aim to embody the spirit of "fighting," strengthen the momentum of "grabbing," and maintain a proactive state, striving relentlessly to ensure robust operational performance and reform throughout the year.