Everything is changing.
Previously, I was only a son. But now I am also a father. I looked that way when I first came to the company, and I look like this now. I looked that way in early 2019, and I look this now in early 2020.
In 2020, the sudden outbreak of COVID-19 and the sharp drop in oil prices have indeed disrupted the pace of the world.
Suppliers: Due to the impact of the pandemic, the suppliers become less productive. With more uncertainties, blowout in the domestic market and rising production costs, the purchasing costs will increase as well.
Clients: Following the spread of the pandemic and the increase in uncertainty worldwide, many projects are suspended, postponed or even canceled. Fortunately, CNOOD has long been far-sighted. It takes only engineering projects, which mean long period and big investment. Unless by absolute necessity, the project owners will not, and dare not, change their plans rashly. The projects will continue. In contrast, a great many foreign trade orders of clothing and daily necessities have been canceled.
Freight transport：Due to the global pandemic, many foreign harbors have been locked, and ship quarantine inspections become stricter. The uncertainty has increased dramatically.
Therefore, smooth implementation of projects have outweighed the profit margins.
Taking all these elements into account, as well as expected greater hatred of China in foreign countries, the international trade will meet harder days ahead.
It has been acknowledged that 2019 was the worst year in the past decade. But it may be the best year in the next decade. The year 2019 was indeed much better than 2020.
We are engaged only in engineering projects. We supply products and services. Depending on our resource integration, we have kept good relations with factories. Because of our reputation, our attention to quality, our persistence in factories, and our mutual trust with customers, we have firmed up cooperation with customers, though the factories have always been there.
Dyson is expensive. But it has many loyal buyers, because it has guaranteed quality, sound service and brand premium. Who would spend money on same products of other brands?
Tough times lie ahead. We have to slow down, and reduce unnecessary costs. Let’s unite as one to forge ahead steadily and surely.