Colorno, September 28^th, 2023. Last week, we had the pleasure of hosting Lawrence Gu, the General Manager of our Shanghai branch and a valued partner, at Transfer Oil headquarters in Italy.
 
Lawrence had not been to Italy since 2019, and this visit provided him with the opportunity to witness firsthand our new headquarters, the upgraded warehouse, and the numerous improvements made to our production departments over these past four years. He was deeply impressed by the strides our company has made in enhancing our facilities across the board, from creating modern workspaces to equipping our production units with cutting-edge machinery. We've also made significant advancements in energy efficiency and safety, all while maintaining our commitment to the pursuit of excellence and beauty in everything we do—a core value that distinguishes Transfer Oil and is increasingly embraced by many companies as a mark of distinction.
 
Considerable attention was dedicated to Lawrence's interactions with our assembly, warehouse, sales, and IT teams, where he received updates on our most recent and effective work procedures. He also had the chance to observe the functionality of our new Manufacturing Execution System (MES) and electronic material handling devices, which he can implement back at our Shanghai branch. In fact, our Shanghai office has recently adopted our own ERP system and a similar MES software, but seeing it in action within a broader context was indeed enlightening, as they are still in the early stages of this transition.
 
We organized an extensive update session with our technical and R&D teams to showcase the numerous innovations we've developed in recent months, from enhancements to our UHP Helix® product range to innovative hose solutions for hydrogen vehicle refueling, and refinements in our unique tube bonding process for our CP Neo thermoplastic hose range.
 
Lastly, no visit to Parma would be complete without experiencing our legendary hospitality and culinary delights! We also had a guided tour of the Teatro Regio di Parma, one of Italy's most beautiful opera houses, where rehearsals for an upcoming performance were underway.


 
The growth of our company also hinges on our ability to reach broader markets, both geographically and culturally. Our branches serve as gateways to distant and diverse markets, and in the complex Chinese market, having Lawrence leading our team is a significant asset that I believe will contribute significantly to our development.
 
We extend our heartfelt thanks to Lawrence for this visit and commend the excellent work of our Shanghai branch. Lawrence also expresses his gratitude to the entire Transfer Oil team for making this week an example of a highly successful collaboration.