Shandong Sanxiang Stone Crusher Factory's Outlook on the 2024 Market Development:

Through the unwavering efforts, resilience, and sincere cooperation of all employees of Shandong Sanxiang Heavy Industry Co., Ltd., the company has successfully completed the sales target set at the beginning of the year for its stone crusher mill products, even in a less than ideal domestic and international market environment this year. However, in the face of these achievements, we are not complacent. Instead, we maintain a vigilant attitude and look forward to the market prospects for the crusher industry in 2024.

Through discussions held within the company, it is widely believed that given the current market development situation, the market expectations for next year should not be set too high. While there might be some improvements, overall, the market is not expected to be significantly stronger than in 2023. The reasons for this are summarized as follows:

Firstly, the real estate market in 2024 is expected to continue to be sluggish and lackluster unless unexpected changes occur. Despite numerous government measures to boost the market in many places, the fundamental issue of limited growth in residents' incomes in the short term has not been effectively addressed. With investment buyers losing interest and insufficient purchasing power from essential homebuyers, the real estate industry in 2024 is not promising. A sluggish real estate market will indirectly reduce the demand for sand and gravel aggregates, which will, in turn, impact the entire crusher industry's development.

Secondly, the global economy is currently in a downturn cycle, and in today's era of economic globalization, China's economic development cannot be isolated. We need to recognize the current difficulties and be prepared for them. Stability should be the keyword in all economic activities, avoiding over-optimism and any meaningless endeavors that deviate from the objective reality. We must focus our efforts on significant tasks and continue to do what needs to be done.

Thirdly, the COVID-19 pandemic is still in the early stages of reopening, and consumer enthusiasm is not very high. During this period, residents' spending continues to decrease, which will affect the recovery and development of various industries. This is the current objective reality. The national focus in the coming months will certainly be on economic development, and we must closely follow the direction of national policies, respond calmly, and actively adapt to changes. Only by doing so can we ensure the sustained and healthy development of Shandong Sanxiang Heavy Industry Co., Ltd. during this economic downturn.

Fourthly, concerning foreign trade exports, based on the export data for 2023, in 2024, we should continue to focus on developing markets in Southeast Asia, Africa, and South America. This overarching strategic direction should remain unchanged. Most of these regions are developing countries with substantial infrastructure needs. Shandong Sanxiang Heavy Industry Co., Ltd. should leverage its crusher offices established in various locations to continue efforts in developing local crusher market businesses.

Fifthly, the international market environment is not as stable as one might hope. Currently, it appears that the Russia-Ukraine conflict will persist in 2024, and conflicts in the Middle East continue. Economic development in Europe is likely to remain entangled in fiscal and energy crises. When considering other factors, the road to global economic recovery remains challenging.

Sixthly, opportunities and challenges coexist. When assessing the market development for crushers in 2023, we should not only focus on the disadvantages but also recognize the opportunities. In 2023, due to the unfavorable overall environment, many small or poorly managed stone crusher manufacturers went out of business or declared bankruptcy. However, we successfully survived this crisis, and the entire industry achieved resource consolidation and optimized resource allocation. In the future, we will encounter more opportunities. If we seize these opportunities and turn them into drivers for company development, that should be our top priority. Regardless of the circumstances, development is the eternal theme for all industries. We must be prepared to face future opportunities and challenges.

In summary, as we approach the end of the year and the beginning of the new one, Shandong Sanxiang stone crusher machine factory looks ahead to the market development of crushers in 2024. The conclusion drawn is that the overall development of the crusher industry this year may improve slightly, but we must remain vigilant and respond calmly. At the same time, Shandong Sanxiang Heavy Industry Co., Ltd. believes that opportunities and challenges coexist, and we must make thorough preparations, actively face difficulties and setbacks, and strive to achieve the company's goal of maintaining healthy and stable development in 2024.