On September 1, the establishment ceremony of Yiwu Operation Headquarter was held in the Financial and Business District. MU Group President Tom Tang, along with senior executives Henry Xu, William Wang and Ken Huang, as well as middle and senior managers from Yiwu, attended the event to witness this historic moment.
Amid the soaring fireworks, Tom Tang and the group leaders cut the ribbon, symbolizing a new starting point and adding momentum to MU Group’s journey toward greater achievements.
Following the ceremony, Ken Huang delivered the first speech. He noted the significant efforts made by MU Yiwu in transitioning from a procurement support hub to fully localizing its Yiwu operations. With rapidly advancing technological developments, the need to strengthen the digital foundation to meet client demands for product design is becoming increasingly apparent. The Yiwu Operation Headquarter, uniquely positioned to serve both B2B and B2C markets, will leverage its advantages in finance, logistics, and talent to meet the innovative demands of the business.
Reflecting on MU Group’s entrepreneurial journey, William Wang emphasized that the commitment to customer-centric service is the driving force behind the efforts of MU Yiwu. With the establishment of operation headquarter, Yiwu MU must deepen its market integration, enhance collaboration, improve service quality, and contribute to local economic growth while actively taking on more social responsibilities.
Henry Xu discussed the company’s journey as the first in the group to localize its Yiwu operations. SOURCE WELL’s development mirrors the characteristics of Yiwu’s local business environment and showcases the successful implementation of the company’s culture. As traditional foreign trade and cross-border e-commerce advance, the increasing complexity of the market compels us to apply digital solutions to our business, management, and processes. The establishment of Yiwu Operation Headquarter marks the successful implementation of our localization strategy, with fruitful results. As the headquarters, it must take on a greater responsibility, make more independent and specific decisions, and lead the Yiwu branch to new heights!
President Tom Tang shared his vision for the operation headquarter, describing it as a necessary organizational form to support the group’s outward expansion. MU is a traditional company. Over the past 26 years, we have focused on short-term profit and sales performance, while minimizing losses, but this approach has also limited innovation and risk-taking in Yiwu. Today, as we face drastic market changes, we must persist in doing what is difficult but correct to seek breakthroughs. Looking ahead, we must make long-term investments in initiatives that may not yield immediate returns but are worth deep exploration for their long-term potential.
The agency model in Yiwu market can be understood as a financial business. Through digital channels, we can attract more clients and develop new payment collection models, ensuring cash flow recovery. The key questions moving forward are how to recover payments and how to manage risk in the agency business. Similarly, for the Latin American market, the absolute advantage of logistics pricing will be a crucial factor for MU in attracting clients. Just as in international relations, all competition in the world is based on strength. Only a strong company can have negotiating power. We hope that the competitive advantages we have accumulated in Yiwu over the long term will build a moat for us over the next 20 years, helping us withstand all challenges.
After the ceremony, the group leaders and middle and senior managers of the operations team gathered for a group photo, capturing this memorable moment in MU Group’s important development milestone.