FUCHS China Held 2nd Online Townhall Meeting themed on Segmentation

After a series of seminars and workshops, FUCHS China’s integrated Segmentation Strategy has preliminarily taken shape. In order to communicate the strategy to all employees, the Second Townhall Meeting entitled“Teamwork - How we work together for the Segmentation Strategy!” was held on August 17, 2020. 14 employee representatives conducted an intensive Q&A session with the three management representatives, Mr. Zhu Qingping, CEO, Mr. Jack Liu, VP IND Sales and Mr. Jonathan Chow, VP IND PM&AE, facilitated by Mr. Ding Zuhao, Culture Scout of FUCHS2025. In total 240 colleagues, including both Chinese and English speakers, participated in the Townhall Meeting from various meeting rooms in Shanghai, Yingkou or Suzhou, or via individual devices, by livestream.

The meeting started with the business review by Qingping Zhu explaining that FUCHS China delivered excellent performance from January to July. Through various sales revenue increasing mechanisms, such as innovative online selling of Automotive Retail, various cost reduction measures, also with government support, the profit has already exceeded the previous year, despite the lower sales revenue. China has been a solid support for Group's profitability. The three management representatives then answered a series of hot topics on "Segmentation Strategy": from the process of strategy analysis and design to strategy alignment and implementation; from resource planning, development of segment leaders to the promotion of project management; from deep localization to product innovation, from segment oriented financial reporting to digitization and automation, from sales process and conflicts solving to changes in supporting functions. The two-hour Q&A was compact and enthusiastic, with 14 questions from colleagues on site and 3 questions from colleagues participating in the meeting online.

Finally, Qingping Zhu stressed again the 2025 goal of FUCHS China - 6 billion sales. He also further put forward his expectation: "The current Townhall Meeting is mainly Q&A, I hope in future we can have more dialogues, discussions or debates, and we expect more open hierarchy-free communication."