Recently, the 40th Anniversary Celebration of Far East Holding Group and the Entrepreneur Forum were successfully held in Yixing, China.

Nearly 2,000 guests, including elites from all walks of life, industry leaders, and partners, gathered together to discuss the development opportunities and challenges of enterprises in the new era, contributing to promoting high-quality industry development and boosting economic and social prosperity.

Jiang Xipei, Founder and Chairman of the Board of Far East Holding Group, and Jiang Chengzhi, Secretary of the Group's Party Committee, Executive Chairman of the Board of Directors, and CEO, respectively accepted exclusive interviews from authoritative media such as Xinhua News Agency, Xinhua Daily, Sina Finance, Tencent Finance, Wuxi Daily, and Yixing Media Convergence, engaging in in-depth dialogues on topics such as enterprise inheritance, core competitiveness, and strategic planning.

　　

　　

Q: What is the core competitiveness that has enabled Far East to continue growing over the past 40 years?

A: First, it is the ability to size up the situation, keep pace with the times, and pursue innovation and change. Far East has always kept up with the pace of the times and actively embraced reforms. Second, it is the capacity to gather like-minded colleagues with a sense of national responsibility and mission, always adhering to our values and vision. Third, it is the ability to better solve practical problems for customers and society, understanding their pain points and difficulties, and promoting mutual understanding, appreciation, and achievement.

Q: What is the original intention behind Far East's initiatives such as talent development and support for multiple-child families?

A: Although Far East is a private enterprise, it is more importantly a social enterprise肩負(fù)著社會(huì)責(zé)任 (shouldering social responsibilities). It aims to provide more employment opportunities for people to live and work in peace and happiness. Therefore, we have formulated seven "priority recruitment" policies, giving priority to persons with disabilities, veterans, university graduates, those committed to having three or more children, zero-employment families, locals, and employee families. Currently, Far East has nearly 10,000 employees, among whom the proportion of special groups such as persons with disabilities and veterans is significantly higher than the industry average, demonstrating our original mission of "creating value and serving society."

Q: What is the key core of Far East's inheritance in the process of the second generation taking over?

A: The core lies in whether they have the willingness and ability to take over, as well as love and confidence in the cause and future development, while also adhering to and persisting, which is the foundation for the sustainable development of the enterprise. Far East has long adhered to the "career partnership + maker mechanism," providing development opportunities for all proactive, willing, and capable inpiduals, allowing more elites to display their talents at Far East.

Q: Compared with the 20th anniversary, what is the biggest change in Far East over the past 20 years, and what remains unchanged?

A: First, not only has the enterprise scale become larger, but more importantly, our team has a stronger sense of national responsibility, mission, and ideals, as well as stronger capabilities to respond to changes and solve problems. As a private enterprise, Far East has always remained true to its original aspiration, full of confidence, and confirmed its future development goals. The core of this is that we have always adhered to putting customers first and respecting those who strive and contribute, staying in line with the Party and the country.　Q: One of Far East's strategic goals is to become a "number one or second" enterprise. How is "number one or second" interpreted?

A: In fact, Far East is already a leading enterprise in China's wire and cable industry, but there is still a gap compared with international leading enterprises in terms of historical accumulation, industrial scale, and internationalization. Far East needs to face up to the gap, benchmark and surpass, and hopes to become a "number one or second" global industry enterprise within about five years.

　　

　　

Q: Standing at the 40-year milestone, what are Far East's future plans and strategic goals?

A: Far East must resonate with the country, focus on the national industrial development plan and layout, better combine market demand, and carry forward our three major industries: intelligent cable networks, intelligent batteries, and smart airports. Specifically, we aim to achieve assets of over 100 billion yuan, revenue of over 100 billion yuan, and a brand value of over 150 billion yuan within five years. We believe that based on the 40-year foundation, Far East can surely control risks, seize opportunities, move forward victoriously, and achieve these goals.

Q: How can an inheritance-oriented enterprise like Far East achieve longer-term development through institutional innovation?

A: Private enterprises in China are relatively young, and corporate governance is a process of gradual improvement in this rapid development. Therefore, Far East has been benchmarking excellent century-old enterprises: in terms of corporate governance, we establish a modern enterprise management system, clarify decision-making authorities through the "three meetings" (general meeting of shareholders, board of directors, and監(jiān)事會(huì) (supervisory board)), and strengthen performance orientation and budget management. In organizational and talent construction, we respect and embrace young people. Far East recruits nearly 1,000 fresh graduates each year (including hundreds from 211/985 institutions), bringing many new ideas while inheriting Far East's 40-year development advantages.

Q: When the younger generation takes over, are there collisions with the previous generation in management methods and strategic focus?

A: China's first-generation entrepreneurs are truly remarkable, and their entrepreneurial tenacity,超強(qiáng)的學(xué)習(xí)能力 (superb learning ability), and progressive mindset are worthy of our learning. Instead, the younger generation needs to accumulate and break through themselves during the role transition, especially without giving up the willingness to learn due to youth. Far East is an organization that highly emphasizes learning. Regardless of age, each position has specific credit indicators every year, and we help outstanding employees pursue further studies. Therefore, we make better decisions by leveraging internal think tanks, external expert resources, and scientific judgment.

Q: What are the highlights and strategic plans in the new energy sector in the *Far East 40th Anniversary ESG Report* released this time?

A: Far East focuses on three major businesses: intelligent cable networks, intelligent batteries, and smart airports, and new energy is highly integrated with our industries, so we attach great importance to future opportunities in several fields. The first is the development of AI computing power. Far East provides a series of products for AI computing power signals, transmission, and power consumption, including cables and energy storage. The second is new energy. Through our own technologies and products, from the highest voltage等級(jí) (voltage class) cable products to high-speed cables for chip signal transmission, and the completion of the largest string-type energy storage power station in China last year, we will play a very important role in the future. In addition, in intelligent transportation, such as new airports at home and abroad, the requirements for green low-carbon and intelligent management will provide more space for Far East.

Q: What are Far East's future plans and arrangements in the capital market?

A: As a listed company, the most important thing is to create value for investors. We must first focus on our own industries and businesses, allowing investors to have a deeper understanding and greater confidence in our future plans. Currently, the concentration of the cable industry is rapidly increasing, a trend that will drive the formation of a group of global competitive leading enterprises in the industry. At present, the market share of the top ten domestic cable enterprises is less than 20%, while that of overseas counterparts exceeds 70%-80%. Far East hopes to join them and become one of the global leading enterprises in the cable industry.

In addition to consolidating and expanding our original basic business, Far East is also actively deploying new businesses, including in the new energy sector. Our cable products for UHV, nuclear power, wind power, photovoltaics, charging piles, etc., are basically the world's first. Last year, we also established initial cooperation with some leading enterprises in算力 (computing power), robots, and other fields, and hope to continue optimizing our products and maintaining in-depth cooperation in the future.

As Jiang Xipei said: "To pass on an enterprise like Far East from generation to generation, carry forward the past and open up the future, and remain brilliant for a hundred years, the road ahead is long and arduous." Standing at the new coordinate of 40 years, this industrial giant rooted in the Yangtze River Delta and radiating globally is embarking on a new journey of high-quality development with high spirits.