Hande Company Signs Responsibility Document for 2009 Full-Budgeting Objectives
On February 27th, Handtech Company officially launched its full-scale budget target responsibility initiative for 2009 at the Xi’an plant. General Manager Wang Zhanchao, along with over 50 mid-level managers, attended the signing ceremony. The event marked a significant step forward in the company’s financial planning and operational strategy.
During the ceremony, General Manager Wang reviewed the company’s budget management achievements from 2008 and outlined key priorities for 2009. He emphasized that comprehensive budgeting and continuous cost reduction are essential for the company's long-term success. All departments were urged to develop detailed plans and strategies aligned with the 2009 budget goals. Wang encouraged all teams to take ownership of their responsibilities, work diligently, and contribute to achieving the company’s financial targets. In conclusion, he signed the 2009 full-budget target responsibility agreement with department heads and senior management members.
Since implementing comprehensive budget management in April 2008, Handtech has established a well-organized structure with clear roles and efficient coordination. The company has developed 12 key management systems, including processes for budget control. By the end of the second half of 2008, it had successfully reduced costs by approximately 30 million yuan. This progress has elevated the company’s overall budget management to a new level.
With a focus on improving corporate efficiency, Handtech has continued to refine its comprehensive budgeting approach. The company initiated cost-reduction projects across various areas such as technology, R&D, production, procurement, and management. These efforts have led to the optimization of a comprehensive budget system and the establishment of a cost-control framework driven by research and development. The company is now implementing a program-led budget control system with efficiency at its core.
To support this process, Handtech has conducted multiple training sessions on comprehensive budget management and strengthened the monitoring of business plans. The budget management office holds weekly meetings to track and coordinate the progress of each plan. At the end of every month, cost-reduction initiatives are reviewed and verified promptly. Additionally, the company identified three major themes for 2009: optimizing single-level bridge capacity utilization, reducing technological costs, and accelerating product restructuring.
Currently, the company has completed the preparation of the 2009 full-budget review and adjustments based on the board's resolutions. All aspects of the comprehensive budget management are actively underway, reflecting the company’s commitment to financial discipline and operational excellence.
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