HONG KONG SAR - Media OutReach Newswire - 11 July 2024 - Forbes China has unveiled its 2024 list of "China’s 100 most successful businesswomen", and key global technology manufacturer and Apple supplier, Luxshare Precision's founder and chairperson, Wang Laichun, has once again topped the prestigious ranking.
In an exclusive interview with Forbes China, Wang Laichun shared her insights on Luxshare Precision's digital transformation journey and the key challenges the company has faced along the way.
"In the past decade, Luxshare Precision's management expenses were around 6% to 7%. Through years of development, optimizing system processes, and the support of a digital platform, the company's management expenses have dropped from 2% to 3%. This is the efficiency brought by the digital platform," remarked Wang. She noted that digitalization has played a role in reducing costs and improving efficiency.
Wang Laichun has consecutively topped the list in 2022 and 2023. Under her leadership, Luxshare Precision is steadily becoming a model and leader of high-quality development in the electronics manufacturing industry, shaping new advantages for China's manufacturing sector.
When asked by Forbes China about the pain points in Luxshare Precision's digitalization process, Wang listed four major aspects:
1. Luxshare Precision's growth considers not the short-term but the medium to long-term. In this dynamic vision, product upgrades and business expansion pose challenges to digital construction.
2. Comprehensive consideration of data security issues is required.
3. Internal growth and external acquisitions lead to data silo problems.
4. The foundation for digital construction is tested.
Facing future challenges, Wang Laichun displayed great confidence. "Innovation" is one of Wang Laichun's persistent business tenets. Under her leadership, Luxshare Precision is committed to continuous innovation, relentlessly pursuing the ultimate product service experience and company operational efficiency, allowing the world to enjoy the good life brought by technology.
Wang also stated that in the next two decades, Luxshare Precision will strive to push 30% of its products into uncharted territories in the global industry.
Toward the end of the interview, Wang Laichun talked about the current hottest topic, artificial intelligence. She believes that AI can help Luxshare Precision achieve more intelligent management, provide early warnings about risks, and analyze errors, enabling management to make better decisions and forward-looking judgments through models. With the support of AI and Wang Laichun's unique business philosophy, Luxshare Precision is expected to continue its deep cultivation in the precision manufacturing industry.
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source: Luxshare Precision
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