Time harbors great power, and endeavor writes brilliance. Looking back at the year 2024, FIOCCO Group used resilience and perseverance as its brush, dipped in the ink of innovation and openness, to paint an extraordinary scroll of development. On the new journey, hard work remains the constant foundation; in overcoming challenges, courage and determination are the only answers. Seeds that have weathered the winter sow dreams of spring. Let us reflect on the past and set out with renewed determination!

I. Party Building Lays the Foundation

2024 was a critical year for fully implementing the spirit of the 20th National Congress of the Communist Party of China. FIOCCO Group has always regarded Party building as a vital guide for enterprise development, further enhancing self-innovation, clarifying development positioning, and addressing new challenges and problems with the times. The "red engine" drives the enterprise steadily forward on the path of high-quality development.

II. Leadership Care Boosts Development

Peng Jiaxue, Standing Committee Member of the Zhejiang Provincial Party Committee and Secretary of the Ningbo Municipal Party Committee, visited FIOCCO Group.

Jiang Leiguang, Second-Level Inspector of the Comprehensive Department of the National Bureau of Statistics, visited FIOCCO Group.

Wang Xin, Deputy Director of the Industrial Department of the National Bureau of Statistics, visited FIOCCO Group.

Chen Xingli, Deputy Secretary of the Yinzhou District Committee and District Mayor, visited FIOCCO Group.

From 1992 to 2024, FIOCCO Group has ridden the waves of the times, embarking on a magnificent development journey. Its growth and leaps over the past 33 years are inseparable from the care and support of the government and leaders. In 2024, leaders at various levels visited the Group multiple times for inspections and guidance, charting the direction for its development and inspiring FIOCCO people to strive with determination and dedication.

III. Expanding into Russia, Writing a New Chapter

Following the development pace of the "Belt and Road" initiative, FIOCCO Group actively explored overseas international markets. In 2024, the Group established a specialized research team for the Russian market, delving into local consumption trends, policies, regulations, and business environments. It engaged in project discussions with renowned local distributors and invited Russian entrepreneurs to visit the Group for exchanges and collaboration discussions. These efforts laid a solid foundation for the Group's presence in the Russian market, marking a critical step in its international layout.

IV. Foreign Trade Platform Connects the World

Ningbo Huayi Import and Export Co., Ltd. (Huayi Foreign Trade Comprehensive Service Platform) has adhered to the service philosophy of "Professional, Dedicated, and Focused" since launching its comprehensive foreign trade services in 2013. Over the past decade, it has established and refined five major service areas: foreign trade, supply chain, cross-border, domestic sales, and enterprise management. To date, the platform has served over 15,000 clients. In 2024, with strategic vision and industry expertise, the platform expanded to Jiaxing Pinghu, establishing a new branch to radiate surrounding markets. It also explored new models for foreign trade services, guiding enterprises to expand overseas transparently, and launched comprehensive one-stop professional services for local e-commerce in Russia, helping partners achieve outstanding results in international business. In 2024, the platform achieved export data exceeding $780 million USD.

V. YESGO Valley Builds an Enterprise Nest

With an innovative vision and a pioneering spirit, FIOCCO Group made the decisive choice in 2018 to "transition from a production-oriented enterprise to a platform service-oriented enterprise," creating YESGO Valley Fashion Tech Park. The project is dedicated to "integrating high-quality resources, building an open platform, shaping service functions, and enhancing industrial capabilities," aiming to provide comprehensive entrepreneurial support to small and medium-sized enterprises (SMEs) in the park, including startup guidance, financial and tax agency services, policy consulting, and financing guarantees. In 2024, the park partnered with the Yinzhou District Judicial Bureau to establish Ningbo's first foreign-related rule of law practice station, introducing a shared "legal steward" for SMEs. The industrial chain collaborative innovation ecosystem model created by YESGO Valley was selected for the "Typical Model Cases of Integration and Innovation of Large, Small, and Medium Enterprises," "Top Ten Typical Cases of New Models and Formats in the Textile Industry," and the "China Management Case-Sharing Center Case library." To date, YESGO Valley has gathered 150+ enterprises related to the fashion textile and garment industry, with over 30 new enterprises introduced in 2024. The total annual sales of all enterprises in the park reached 8 billion RMB.

VI. Warm Acts of Kindness Spread Positive Energy

Donated relief supplies to the earthquake-stricken areas of Gansu.

Donated school uniforms and small yellow hats to underprivileged children at Baochuang Kindergarten.

With compassion at heart and dedication as its honor, FIOCCO Group continued its path of kindness in 2024. Donations totaling 1.78 million RMB were made, including relief for the Gansu earthquake, the Dongqian Lake Charity Education Fund, public welfare funds for Dongjiao Subdistrict, and clothing for disadvantaged children at Baochuang Kindergarten. From poverty alleviation and disaster relief to earthquake assistance and educational public welfare, FIOCCO Group has consistently demonstrated corporate social responsibility and commitment through practical actions.

VII. Honors and Continued Progress

A year of abundance, filled with glory. Throughout its journey, FIOCCO Group has remained unwavering in its focus on its core business, driving intelligent manufacturing upgrades through innovation; embracing change and actively transforming, setting industry benchmarks with services; rooting itself locally while expanding globally, continuously writing new chapters of development. In 2024, FIOCCO Group achieved sales exceeding 5.5 billion RMB. In 2025, let us forge ahead with determination and continue to achieve glory!