Since the beginning of this year, Cambodia Pangyuan has been deeply practicing the "Four Business Concepts", taking seizing the market, strengthening management and competing in service as the key points, and implementing the requirements of quality improvement and efficiency enhancement of the joint-stock company. In the first quarter, it achieved an 88% year-on-year increase in operating income and a 150% year-on-year increase in total profit, setting the best performance record for the same period in history.

The core businesses are advancing in parallel, and the market share continues to expand

In terms of cement transportation business. Cambodia Pangyuan adheres to the strategy of serving major clients and continuously promotes strategic cooperation with Chinese-funded enterprises such as Conch Cement Plant, Huaxin Cambodia Zhuolingding Cement Plant, and Thai Wenlong Cement Plant, undertaking the cement transportation for all hydropower station construction projects in Cambodia. As the business volume and scale gradually increased, the company promptly optimized the dispatching system and purchased additional bulk transport vehicles, raising the daily transportation efficiency to 4,000 tons. In the first quarter of this year, the company completed a total of 170,000 tons of cement transportation, a year-on-year increase of 38%, firmly holding the top position in the foreign-funded cement transportation industry in Cambodia.

In terms of tower crane rental business. With the recovery of Cambodia's construction industry, residential, hospital, commercial complex and industrial park projects undertaken by enterprises such as Gezhouba Group, China Railway Urban Construction, Shanghai Baoye, China Construction Third Engineering Bureau and China Construction Fourth Engineering Bureau have successively started construction, and the demand for tower crane rental has risen rapidly. Cambodia's Pang Yuan seized the opportunity of The Times and promptly added a batch of tower crane equipment, resulting in a 478% year-on-year increase in tower crane rental income. Meanwhile, the large tower cranes such as D1100 and D800 provided by the China Construction Third Engineering Bureau Sihanoukville Peninsula Hotel project, which participated in the construction, have been highly recognized by the client for their efficient and stable performance, filling the gap in the rental of large tower cranes in Cambodia.

Strengthen internal control management and consolidate the foundation for development

While its business was expanding rapidly, Cambodia Pangyuan achieved the dual goals of risk prevention and control and efficiency improvement through systematic internal control management. In line with the "six unifications" management requirements of the joint-stock company, namely procurement, funds, human resources, cadres, culture and safety, it compiled a management manual, improved various rules and regulations, and strengthened the construction of corporate culture. All the processes have been carried out in accordance with established rules and regulations. At the same time, strengthen process control, strictly control non-essential and non-productive expenditures, review comprehensive budget management from a business perspective, budget productive and non-productive expenditures and other expenses in advance, break them down in detail, and implement them item by item. In terms of material costs such as spare parts, fuel products and tires, effective control was carried out through various indicators such as procurement plans, reuse, price comparison among multiple suppliers and reduction of vehicle refueling volume, achieving remarkable results in cost reduction and efficiency improvement.

The service has achieved remarkable results and customer satisfaction has further improved

Cambodia's Pang Yuan has always adhered to the development concept of "rooting in the local area and serving the local area". In the first quarter, it newly hired over 60 local drivers, and the localization ratio of the management team increased to 55%. Meanwhile, Cambodia Pangyuan has established and improved the service quality assessment system, incorporating indicators such as the on-time delivery rate of goods, customer satisfaction, complaint handling and timeliness into the employee performance assessment system. Set clear assessment standards and reward and punishment incentive measures, and give commendation and rewards to outstanding employees. The subjective initiative of employees in their work is well exerted.