▶️Letter from the CEO
The highly competitive environment between the two major economies, China and the U.S.A. Affected by inflation, geopolitical risk and war, the global economic recovery momentum appears to be weak. With the bottoming out in 2023, the restructuring of the global supply chain and value chain has become inevitable. As the midstream supplier in the semiconductor industry chain, WPG Holdings worked hard to figure out how to maintain the flexibility and resilience of the supply chain in a constantly changing environment, in order to serve the global upstream and downstream partners.
In 2023,WPG Holdings has been established for 18th year. Under the corporate vision of “The First Choice of Industry • The Benchmark of Distribution”, WPG Holdings confirmed that it should pursue “Creating Partner Value for a Better Future” as its purpose.
On the journey to pursue the happiness, we focus on several key questions: how to continuously create value, how to have our value recognized by industry partners, how to have our value acknowledged by the capital markets, and how to fulfill the interests of our stakeholders. This are crucial issue that the management team of WPG Holdings actively explored under this mission.
For the past decades, WPG Holdings has been working on the electronic components distribution industry cautiously and diligently. Accumulated valuable resources in human capital, financial capital, smart capital, social capital, and the industry experience exclusive for WPG Holdings. We deeply realize that the“resourcefulness” is a key behavior for the corporate sustainable development. Therefore,we identify “resourcefulness to pursue better operation” as the strategic focus of the management team. In the various Red Ocean markets, through the planning, deployment and execution of the Blue Ocean strategy, WPG Holdings expects to keep remaining competitive in different games and tracks and pursue the outstanding performance in terms of the three major sustainable development indicators: Environmental Protection (E),Social Responsibility (S) and Corporate Governance (G).
Continuing the six major strategic policies in 2021,namely“Globalization, Greatness, Empowerment, Effectiveness, Succession, Happiness,” Electronic components distribution industry (IED) focuses on the three aspects, including global services, optimization of operations and optimization of business.
• Global services - facing the world: In response to the general trend of the global supply chain and migration of customers in Aisa Pacific region, the on-demand deployment claiming“wherever customers go, services are provided” is identified as the core. Under the premise of BCM, we build the cross-regional service network and platform proactively, hoping to provide various solutions to meet the key needs of upstream and downstream industry partners.
• Optimization of operations - Facing situation: The optimization of operations mainly aims to look inward to check the operational process at the front office and back office to improve the performance as the core, and check and review various professional functions to keep optimization. Meanwhile, different functional professions are inventoried and reviewed for continuous optimization. For the Everything as a Service (XaaS), we will continue to confirm feasible service business models.
• Optimization of business - facing the upstream and downstream partners of the industry: In response to the changes in various operating expenses caused by the global overall economy and the rapid changes in this industry, WPG holdings based the policy oriented toward return on operating assets and operating results. Front-office business teams make good decisions to work on the portfolio of products after thorough consideration. For the holding level, we aim at the high-margin business areas and develop projects, in order to increase the involvement in different business fields as an independent business entity and facilitate the improvement of profit sought by WPG Holdings substantially.
CEO of WPG Holdings Ltd.
Mike Chang
