The dragon’s tail swishes goodbye to the old year, and the golden snake dances in celebration of the New Year. Looking back on the past year, the market has been turbulent, yet we have surged forward like the legendary dragon, bravely cutting through the waves. As we enter the Year of the Snake, a new journey awaits. With action as our oar, wisdom as our sail, and unity as our ship, we set sail to conquer new challenges.
For most Chinese businesses, 2024 has been a tough year, a year of struggle, but we have survived. Through the collective efforts of the entire Linkeycon team, we’ve achieved a 50%+ growth in revenue. Of course, the small base played a role, but surviving is the key. As long as we are alive, there is hope for the future. Life gives us value and potential.
In 2025, we set higher expectations for ourselves. Not only do we want to survive, but we must improve our profitability, and more importantly, our capacity for sustainable, high-quality development. As times change, so too must our approach to business. How we live, how we thrive, and how we ensure a promising future are eternal questions for the entire Linkeycon team.
When formulating our 2025 plan, we all clearly recognize that the annual business plan is the foundation for realizing our development strategy. Understanding the macroeconomic environment, industry conditions, and objectively evaluating our internal environment—our strengths and weaknesses—are key to crafting a plan that leads to high-quality development.
The macro environment is something we must accept, but the micro environment is where we can put in our effort. Before marching forward, we must ensure our preparations are solid—digging deep, accumulating resources, assessing achievements, and clarifying rewards and penalties. We will increase our investment in R&D, continue our 13-year overseas sales strategy, focus on both domestic and international markets, expand our market share, and drive profitability through strong management. We will also implement comprehensive budget management to effectively mitigate and control annual business risks. Heavy burdens will be shared by all, and the fruits of success will be enjoyed by all.
In 2025, we will continue to face various challenges, but we are also in a period of significant development opportunities. We will remain open, optimistic, and proactive in solving the problems the times present us. Achieving our dreams requires persistence, perseverance, and courage from every member of Linkeycon, as well as the right strategies and methods. We must step out of the success trap of the past, rise to the challenge, and seize growth opportunities even in difficult times.
In 2025, we will focus on our annual goals, striving for high-quality development. As our supply chain director has said, we must "cut out the chronic diseases," eliminating long-standing issues and accelerating our progress. I strongly agree with this approach.
In the face of the current market situation in the aluminum electrolytic capacitor industry, where CR5 market share is still below 27%, opportunities are there for those who are prepared, but time is running out. The global industry faces overcapacity, and in the high-end market, imported products still dominate. Data shows that competition in the high-end market is not intense. However, in the low-end market, overcapacity, internal competition, long payment terms, and low-quality, low-cost pressure have greatly squeezed the space for high-quality enterprises to grow.
I once visited an industry expert in the industrial control field, who said: "The entire Chinese 3C industry should thank Steve Jobs. The launch of the iPhone led the industry to positive feedback, focusing on high quality and high prices, which allowed companies to achieve profitability and long-term development." The development of the 3C product industry has given us a good example: only companies that focus on high-quality development will have a future.
With 26 years of experience in the capacitor industry, I have walked through all the pitfalls that small and medium-sized enterprises must face. Through all the ups and downs, I’ve gained a deep understanding of the challenges, the hardships, and the rewards. With unwavering determination, we keep pushing forward, remembering our mission and staying true to our purpose.
As we step into 2025, let’s embrace AI and digital transformation, implement full lifecycle digital product management, and further the partner mechanism—Integrating wisdom, securing financing, and transcending boundaries in business—breaking through the limitations of individual capability and enterprise lifecycle. We will strengthen our culture and systems, ensuring the long-term prosperity of our business.
We are grateful for the opportunities and hardships that the times have given us. We thank the local government leaders and Hua'an Jiaye for their strong support, our suppliers for their trust, our customers for their recognition, and every member of the Linkeycon team for their hard work and dedication. Every achievement and honor that Linkeycon has earned would not have been possible without your silent support and contributions. We are deeply thankful for your partnership as we weather the storm together. The new journey of 2025 is about to begin, and together, we will innovate and win the future.
In closing, I would like to leave you with this thought: The river of life flows forward. With unwavering hearts, we chase our dreams. May every Linkeycon team member reap the fruits of their labor and realize their dreams on this platform.
R&D center: Headquarters Dongguan
Manufacturing center: Susong, Anqing, Anhui