On the banks of the Hutuo River, a glorious chapter was written, and I am here to share the story of dedication. In May 1996, Jingye Group was officially founded; yet just as the enterprise was taking its first faltering steps, a major crisis was quietly looming.

In 1998, the shockwaves of the Southeast Asian financial crisis swept across China, bringing a cascade of challenges: exports stalled, goods piled up in warehouses, and a wave of corporate bankruptcies followed in quick succession. At that time, the still‑nascent Jingye Group found itself plunged into an abyss: no one wanted its products, inventories swelled, prices for pig iron and salicylic acid plummeted, and cash recovery became increasingly difficult. With production and operations on the brink of collapse, employee morale crumbled, and the company teetered on the edge of disaster.

Faced with an unexpected crisis, Li Ganpo proclaimed three inspiring slogans: “Work hard in 1998—double our output value!” “Work hard in 1998—one year equals the previous ten!” and “In crisis lies opportunity; today’s economic downturn is a golden chance for our development.” These rallying cries not only rallied the entire workforce behind an unshakable belief in victory but also launched a life‑and‑death battle to expand against the tide. Within a single year, ten critical projects—including two salicylic acid production lines, a blast furnace, a cogeneration plant, a No. 2 coke oven, and a wastewater treatment facility—were simultaneously brought online, as the dedicated employees vowed to carve out a path forward through sheer determination and action.

To win this battle, the dedicated team overcame adverse conditions—such as funding shortages, a heavy project load, and tight deadlines—pushing their ingenuity and unwavering commitment to the limit on every front.

Faced with the challenge of tightening bank lending, the financing team canvassed financial institutions large and small, exhausting every possible avenue to secure funding. Meanwhile, the sales team, through relentless efforts and backed by superior product quality and competitive pricing, successfully achieved a “two‑no” operating model—zero inventory and zero outstanding receivables—providing robust support for production and construction. As for the equipment procurement team, Lu Zengyuan and Jiao Baogui meticulously stretched every penny; upon receipt of the furnace‑top hydraulic components, they opted to forgo a crane, instead relying on a winch and chain hoists to painstakingly complete the installation, thereby cutting costs.

Even more moving is the collective spirit of putting the greater good ahead of personal interests. For seven consecutive months, sintering plant employees went without pay yet remained steadfast at their posts; Zhang Yonghai, then deputy general manager, underwent a coronary stent procedure for a severe heart condition, and after just three days of rest, he returned to the front lines despite his illness. Soon, the rallying cry—“Put the greater good first, set aside personal concerns, and overcome difficulties together”—resounded throughout the enterprise. From management to frontline workers, everyone united as an unbreakable steel plate, joining forces to wage war against the crisis.

Effort ultimately pays off. By the year 2000, all ten projects under the “Intensive Efforts in ’98” initiative had been successfully commissioned, and output value had doubled compared to 1997.

Over the course of more than a year, Jingye Group emerged victorious from the fierce battle against the financial crisis, achieving remarkable growth and a major leap forward. This extraordinary chapter has become one of the most illustrious pages in Jingye’s history of development.

From a desperate situation to a counter‑trend expansion, the dedicated team at Jingye has written a legendary tale of breaking through crisis through relentless effort. Having weathered the toughest challenges, their story of perseverance continues—more heart‑warming chapters await in the next installment!