The beginning of a new year marks a new look for everything. On the occasion of the Spring Festival, I, on behalf of the party committee and board of directors, would like to express my sincere gratitude and wishes to all members of Zhenghai who have worked hard in different positions for a year, to their families supporting them all the way, and the retired employees of Zhenghai. Thank you all for your contribution to the Group, and I wish you a new look and new achievements in this year.
In 2019, we, though facing the continued slowdown of the world economy, achieved satisfactory progress in different aspects through endeavors. Zhenghai Magnetic Material Co. Ltd. has consolidated its position as a first-level supplier for the leading automotive companies in Europe, the United States, Japan, and Korea. The first new energy project of Japanese and European automotive companies in the year was put into mass production. The project in Fuhai factory was advanced smoothly. Once completed and put into operation in 2020, the factory will mark the beginning of the 10,000-ton capacity of magnetic materials. "National Engineering Research Center" was officially approved, becoming the third national innovation platform of 米乐m6登录. Zhenghai Bio-tech Co., Ltd. has achieved substantial growth in the private market, with products covering all tendered provinces. In 2019, it has been included in the first batch of specialized, sophisticated, distinctive, and new "Little Giant" companies in the country, becoming the first and only company on the list in Yantai. Zhenghai Tech Co., Ltd. accelerated the expansion of on-board and industrial control businesses, with non-mobile business accounting for 88% of the total. The on-board market has become the company's largest market, and business transformation has achieved initial results. Factories in Ningbo and Tianjin of Zhenghai Hi-Tech Co., Ltd. have been put into service, marking the initial formation of a nationwide production base layout covering six major automotive industry clusters.
The year of 2020 is the 30th anniversary of the founding of 米乐m6登录, which indicates a starting point of a new journey. While summarizing our progress, we should also recognize our gap with the best companies in this industry and in the same region. This requires us to adhere to the principles of sound management and steady progress with alert to potential risks. We should keep forward-looking, expand the advantages of our superior sectors, and operate our main business dedicatedly; forge ahead in technological innovation, product innovation, management innovation, etc., aim at customer needs, rise to challenges and achieve breakthroughs; improve the scientific, fair and just incentive mechanism, motivate talents with outstanding contributions, and stimulate the enthusiasm of all employees; accelerate the selection and cultivation of outstanding talents, practice our core values and codes of conduct, pass on Zhenghai's experience, and bring Zhenghai culture into practical actions.
Looking into the future, it is believed that as long as we work together, and keep proactive, honest and down-to-earth, we will do our part to promote the sustainable development of Zhenghai, making it firmer and more powerful, and its centurial dream realized.
Once again, I wish all Zhenghai people and their families a happy Spring Festival and a healthy life!