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Ascend: Full of confidence in the development in the second half of the year, and steadily advancing the development strategy and investment plan

 Last Update: 2022-08-22
 Source: Internet
 Author: User

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Ascend: Full of confidence in the development in the second half of the year, and steadily advancing the development strategy and investment plan

——Dr.
Wu Xianliang, Senior Vice President and Managing Director of Ascend Asia Pacific

Pandemic affects everyone in the industry

At the beginning of 2020, a sudden epidemic made the land of China seem to have suddenly pressed the pause button

This outbreak has impacted us and everyone in the chemical industry

It also affects foreign markets.
For our customers in Japan and South Korea, because their raw materials are supplied from China, it will have an impact on our foreign customers; in addition, our customers in Japan and South Korea, their customers are in China, we also be indirectly affected

Second, logistics are also affected

Dr.
Wu Xianliang, Senior Vice President and Managing Director of Ascend Asia Pacific

Restoring demand and supply is a priority

As the epidemic situation in China is gradually controlled and alleviated, various industries have begun to resume work and production one after another

Because the epidemic only affects in the short term, we cannot affect our long-term development plan because of the epidemic

Investment plans in China will not change

Spring is blooming and everything is reviving

At the same time, we have also seen some changes in people's concepts due to the epidemic, such as changes in travel methods

A considerable part of our business is in the automotive industry, so I believe that in the second half of the year, with the recovery and development of demand in the automotive industry, I am confident and looking forward to the growth of our business
.

The impact of the epidemic is only temporary.
Our investment plans in Asia and China will not change, and will not change at all because of the epidemic
.

Asia will be an important driving force for Ascend's future growth, accounting for more than one-third of Ascend's global business.
In the next three to five years, we will continue to expand investment in production and R&D to promote the vigorous development of the Asian market.

.

In addition, the epidemic has also created some other business opportunities
.
We are developing some consumer products related to epidemic prevention and virus prevention, such as: some special materials for masks and anti-epidemic materials, etc.
We are accelerating the speed of product development and market launch, so that these products can serve customers as soon as possible
.

The start of 2020 is different, but I believe that the second half of the year will usher in exciting development when the haze of the epidemic dissipates
.

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