From beginning to end, everything is renewed. The magical year of 2022 is about to pass, and the horn of progress for 2023 has sounded. On behalf of the company’s management, I would like to express my heartfelt gratitude and good wishes for the new year to all colleagues, partners, shareholders, and friends from all walks of life who have always cared and supported the development of Xindao Technology!

Looking back on 2022, we have walked steadfastly all the way! In 2022, we experienced large-scale epidemic lockdowns by our colleagues in Shenzhen and Shanghai, with most of our business communication activities interrupted or cancelled. Especially in the first half of the year, our Shanghai headquarters was under continuous epidemic lockdowns for more than two months, and the vast majority of our colleagues could only work from home. During this period, the flow of goods and materials was almost completely interrupted. Throughout the year, our upstream and downstream partners were also affected by the epidemic and stopped or delayed production multiple times, The demand of several major consumer customers has significantly decreased in stages, and we have also withstood the decline in performance in stages Over the past year, I would like to express my gratitude to all colleagues and partners for overcoming all difficulties, actively responding to customer needs, stabilizing supply, ensuring production capacity, and seeking development. I have practiced the company’s core values of “achieving customer unity, cooperation, integrity, enthusiasm, and pursuit of excellence”, ensuring the normal operation of the company and the active promotion of various work

Step by Step, Run Quickly, Accelerate Research and Development, and Expand Technology Platforms
Innovation is the lifeblood of enterprise development. In 2022, new products such as higher performance, lower power consumption, and smaller size power devices and power ICs from Xindao Technology will be launched one after another; The third-generation semiconductor GaN and SiC products have been shipped and the technical platform has been established.

The clean energy market is improving, seizing opportunities and promoting overall planning
We closely follow the national strategy and focus on the new energy market. In 2022, multiple of our products have entered the project validation of domestic leading electric vehicles, with terminal applications such as energy storage and photovoltaic inverters becoming the focus of development.

Joining industry funds and actively integrating upstream and downstream resources
We have joined the Beijing Optoelectronic Integration Industry Investment Fund to optimize the company’s investment structure and further strengthen strategic cooperation relationships with key upstream and downstream enterprises. Focusing on the company’s main business, we have closely contacted dozens of high-quality projects and actively sought investment and acquisition opportunities.

Improve talent cultivation strategies and deepen management system reform
Talents are the primary resource for the development of a company, and making good use of the talent mechanism is one of the core competitiveness of the company. We have established an organization and talent development center to strive for young talents with good foundations, willingness to learn, and passion; Strive for professional talents who excel in business, understand management, and do practical work. Establish a departmental management system from point to surface, establish a performance management system, and improve the promotion channels for outstanding talents; Implement the system of general manager office meetings, concentrate efforts on solving problems, and integrate resources to achieve goals.

New R&D site is put into use, and the company’s overall situation is updated
This year, the new R&D center is officially put into operation, and the Wuxi subsidiary is closely preparing for it. Xinguang Orange is emerging, with an upgraded image. The vibrant “orange” and the vibrant “green” complement each other, adding a bright background to the continuously growing brand value.

When there is no storm or strong rain, guard until the clouds open and the moon shines. Those who failed to defeat us will eventually make us stronger. As the new year has come, we can foresee that the COVID-19 crisis will eventually pass, the curtain of international cooperation will reopen, and the industry will accelerate its return to the track of sound development.

Although the road is far, the journey is approaching; Although things are difficult, they must be done. In the new year, we will adhere to our original intention, move forward courageously, based on power devices and power ICs as important growth poles, and work hard along the direction of “solid technical foundation, broad research and development platform, multi-point flowering, and extensive industrial cooperation”, striving to ultimately grow into a leading enterprise in the power semiconductor ecosystem.

Heaven rewards diligence, hard work does not deceive. In 2023, Vientiane will be reborn, with climbers and brave companions, aiming for the peak. Let us remember the company’s vision and mission, and strive to inspire our youth with a fighting attitude, not to disappoint the times and the years ahead. We will persist in our actions and work hard to move forward, and meet the beautiful as scheduled.

Wishing everyone a happy new year, smooth work, and a healthy family!

Xindao Technology
Chairman Ou Xinhua
December 31, 2022