All the changes such as market fluctuation, trade war, geopolitics, new four modernizations of automobiles and COVID-19 pandemic have exerted an incredible impact upon automobile industry. How to guarantee rapid and steady growth in an environment of much uncertainty has become one of the key concerns in ASIMCO's biennial strategic symposium.
The leaders from ZMJ, the management team of ASIMCO HQ, and the general managers and market, strategy and technology department heads of all the operating companies, as well as super high potential executives recently got together in Xi'an. What's more, the leaders from ASIMCO North America and Europe attended the meeting online. All the participants expressed their opinions in keynote speeches and panel discussion with regard to two major themes, including "business strategy module" and "organization strategy module".
ASIMCO is experiencing growth, upgrading and transformation. Our future development resides in our plan today. We must be clear about how we can embrace an immeasurable future confidently. At the two-day meeting, all the participants not only talked about development goal and path, but gained the definite and practical understanding that we'll continue to keep pace with market changes and make dynamic adjustment to production capacity. We'll focus on R&D work, increase conversion rate of new products, and enhance efficiency through information and data-driven approaches. We'll try to build a top-class talent pool of forward-looking and highly responsible professionals when internal training is highlighted.
In the highly competitive and volatile market, "the survival of the fittest" is an exclusive determinant of development. ASIMCO Group will forge further ahead along the road that features high-end, professional, internationalized and gradient development. We must learn much about industry environment and law of changes, predict development direction, and take forward-looking actions to address market changes and serve our clients more effectively.