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Dear Colleagues,
Happy New Year!
We have defined 2025 as Inovance's "Year of Ecosystem," a move that was not well understood by many at first.
From the intensifying cutthroat price competition across industries at the start of the year, to the voluntary self-discipline and low-price governance initiatives launched by several major sectors by year-end, we have witnessed once again the ancient wisdom that "extremes lead to their opposites." Without a globalized, healthy, and sustainable business ecosystem, success in any industry or enterprise is fleeting. Benefiting society as a whole—rather than Inovance alone—is the cornerstone of our ecosystem strategy, and also the driving force behind our continuous progress.
Guided by this ecosystem philosophy, we are firmly committed to avoiding three things:
1、Vertical integration of a full-stack supply chain.
2、Exploiting supply chain partners through our position as a supply chain leader.
3、Soliciting or participating in bids based solely on the lowest price.
Our top priorities focus on four key ecosystem-building initiatives:
Customer Ecosystem: Establish mechanisms for joint innovation and tackling key challenges with leading customers across various industries and their partners. This collaboration aims to enhance the core values of the "Two Improvements, Four Savings and Dual Safety" initiative—improving efficiency and quality, saving energy, materials, labor, and space, and ensuring both customers' property safety and employees' personal safety—while rigorously protecting our customers' intellectual property.
Product Ecosystem: Embed ecosystem characteristics into the very soul of our products, especially our software. Building win-win partnerships with premium system integrators (SIs), original equipment manufacturers (OEMs), and end-users (EUs) must be a primary consideration in product design.
Supplier Ecosystem: Joint innovation with Inovance is our primary consideration for selecting suppliers, followed by sound corporate governance of the suppliers—especially their founders' focus on core businesses. This is our tangible responsibility as a supply chain leader to foster a healthy ecosystem.
Industry Talent Pool: The depth and density of industrial talent across society shape the future of the industry. Inovance has built talent platforms including school-based training programs, developer competitions for talent discovery, and the Talent Gathering Program for employment opportunities. We keep fostering young talents' passion for industry and manufacturing, and solidify the vital talent foundation of China’s manufacturing industry.
2026 is Inovance’s "Year of Putting People First," as I define it. This notion simply means: People come first.
Different from "Task-First"—which often leads to getting trapped in narratives of procedural correctness, focusing first on business directions, approaches, strategies, processes, rules and organizational setup, leaving little energy to care about people—and also distinct from "People-Oriented", which emphasizes philosophy and principles, "People-First" places greater emphasis on the prioritization of action.
In our startup phase, Inovance was forced to practice the principle of putting people first, for human resources were our only resource at that time. As we grow bigger, we have strengthened the building of institutional systems. However, many of our young managers have grown up in a well-established system, and their insight into people is far from thorough enough.
In today’s fast-paced, ever-changing business landscape, only those companies that stay as agile as in their startup days and fully leverage platform strengths can excel. This dual-edge approach is key to success, and we must reset our "People-First" management logic.
1. We must completely break away from the outdated paradigms of business success. For future business leaders, the ability to combine short-term entrepreneurial daring with long-term professional dedication will be the primary key to success.
2. For all managers, people come before tasks. When it comes to people, we need to prioritize mindset reshaping over simple capability building. Spending more time on people than on tasks is what true strategic diligence is all about.
3. Tailoring positions to talents for the sake of bringing out the best in every individual, and breaking the shackles of traditional management models, shall be a normal practice for our entrepreneurial and innovative organization. In its core, this is the true essence of putting people first.
4. Uniting more people with our progressive corporate culture, motivating by embracing the goodness of human nature and restraining by curbing its darkness, and nurturing the aspiration for rapid growth among our employees worldwide from diverse backgrounds—this is the true starting point of our globalization strategy. Without this, no matter how brilliant our visions, strategies and tactics are, they will never be effectively implemented.
Those with shared ambitions never see distance as a barrier. Upholding our "People-First" commitment, let us march forward together into the new era of 2026. As we draw this year to a close, I would like to extend my warmest wishes to everyone for the New Year!
Sincerely,
Zhu Xingming
Chairman and President of Inovance
