Core Insights - Zhejiang Juhua Co., Ltd. acquired 51% of Shandong Zibo Feiyuan Chemical Co., Ltd. for 1.394 billion yuan, transforming Feiyuan from a private enterprise to a state-controlled mixed-ownership enterprise [1] - In 2024, Feiyuan achieved revenue of 2.825 billion yuan, a 15.4% increase year-on-year, and profits of 530 million yuan, a remarkable 629.7% increase, marking its best operational performance in history [1] - The integration of party leadership into corporate governance has been emphasized, with party organization roles formalized in the company charter [2] Group 1: Governance Innovation - Juhua proposed to incorporate party work requirements into the company charter during the acquisition negotiations, establishing the legal status and responsibilities of the party organization in the governance structure [2] - The company implemented cross-appointment of executives, with Juhua's party secretary and general manager also serving as the chairman of Feiyuan's board, ensuring effective control of state-owned shares [2] - The governance reform allows for the participation of non-state capital, with the private founder of Feiyuan serving as the vice chairman of the new board [2] Group 2: Functional Enhancement - The party committee focused on strengthening organizational construction and enhancing the role of the party branch within Feiyuan [3] - Juhua conducted extensive research to understand Feiyuan's party-building status and developed a specialized work plan to facilitate efficient party organization transitions [3] - Implementation of standardized management practices and political education has been prioritized to enhance the capabilities of the party organization [3] Group 3: Momentum Release - Juhua's party committee guided Feiyuan in integrating party work with production operations, stimulating internal growth [4] - Feiyuan launched a "Party Building + Integration" project, leading to the establishment of a comprehensive management system and digital platforms [4] - Safety and environmental management training sessions were conducted extensively, resulting in a 4.45% year-on-year decrease in special operations [4] Group 4: Cultural Empowerment - Feiyuan implemented a "Party Building + Culture" project to create a cultural matrix centered on state-owned enterprise values, enhancing employee engagement [5] - The sales of "Juhua brand" small packaged refrigerants in the northern market increased by 233% [5] - The mixed-ownership reform has led to consistent growth in Feiyuan's operational performance, making it the second-largest profit contributor within Juhua [5] Group 5: Overall Impact - Feiyuan's transformation demonstrates that adhering to party leadership and leveraging party-building initiatives is essential for the success of state-owned enterprise reforms [6] - The integration of state and private capital has significantly improved Feiyuan's development, contributing to Juhua's goal of becoming a world-class leading enterprise [6] - In 2024, Juhua reported revenue of 24.462 billion yuan, an 18.43% increase, and profits of 1.960 billion yuan, a 107.69% increase [6]