From December 15th to 17th, 2024, our group’s overseas compressor operations division held its annual global overseas company work conference in the beautiful Mediterranean coastal city of Izmir. Management teams from 10 companies across four continents participated in the conference, which was attended by Chairman Cao Kejian and General Manager Tang Yan.
The meeting began with each company summarizing its work and achievements in 2024 to the group headquarters and submitting its 2025 budget. Overall, major companies such as KCA (USA), LMF (Europe), and KMI (India) saw significant growth, with both sales revenue and profits increasing considerably. Some newly established companies, while still incurring losses, entered new fields and opened up new markets, moving in the right direction. A few companies with poor performance made adjustments at this meeting, and the teams are confident in regaining growth momentum. To the delight of the company’s management, the overseas compressor business delivered a relatively outstanding performance against the backdrop of a generally sluggish global economy.
The Kaishan Annual Meeting, themed “Driving the Future with Technology,” has always featured technical reports as its main focus. This year, as usual, General Manager Dr. Tang Yan delivered the keynote address, and leading engineers from various technical lines introduced some innovative products. This technical report session received widespread praise and was considered a significant driving force in helping Kaishan become a comprehensive compressor company. Overseas companies will increase their efforts to promote new Kaishan products in the new year to achieve greater growth and further success. The meeting also included exchange activities focusing on company operations. The US subsidiary, KCA, gave a key presentation, and their outstanding work in brand operation, marketing, product development, and channel expansion greatly inspired sister companies. In accordance with the strategic goal of achieving $300 million in revenue for the overseas compressor business over the next 3-5 years, each company reported on its medium-term development plan. KCA and LMF are confident in achieving their revenue targets of over $100 million (USD) within the next 3 and 5 years, respectively, while other companies also formulated revenue growth plans. The group is confident in achieving its set revenue targets.
The meeting also included an exchange activity focusing on company operations. The US subsidiary, KCA, gave a key presentation, highlighting their outstanding work in brand operation, marketing, product development, and channel expansion, which greatly inspired the sister companies. In accordance with the strategic goal of achieving $300 million in revenue for the overseas compressor business over the next 3-5 years, each company reported on its medium-term development plan. KCA and LMF are confident in achieving their revenue targets of over $100 million (USD) within the next 3 and 5 years, respectively, while other companies also formulated revenue growth plans. The group is confident in achieving its set revenue targets.
During the meeting, our group’s “Kaishan Compressor Turkey Company (KCT),” located in the Izmir Free Trade Zone, obtained its business license, marking the company’s official establishment. The meeting organized all attendees to conduct a site visit to the soon-to-be-constructed Kaishan factory in Turkey. Chairman Cao Kejian, along with some attendees, met with officials from the central government and customs. It was introduced that this factory is our group’s third overseas manufacturing base, following the Austrian and Alabama factories, and is scheduled to be completed and put into operation in the fourth quarter of next year. The factory has the capability to manufacture screw compressor main units and complete screw compressor units, with a designed annual production capacity of US$40 million.
At the luncheon arranged by the conference, a simple yet enthusiastic celebration was held. Everyone raised champagne to celebrate the completion and commissioning of the SMGP Phase 5 power plant. Everyone congratulated and thanked Dr. Tang Yan, the general manager, who rushed back from the power plant site in Sumatra to attend the conference, with the warmest applause.
Finally, Dr. Ognar, CEO of LMF, proposed that next year’s meeting be held in Leobersdorfer to celebrate LMF’s 175th anniversary and its renewed vitality in the construction of a “hydrogen society.” The participating companies parted on a pleasant and friendly note, looking forward to meeting again in Austria in 2025.