Dear shareholders, employees, clients, and partners,
I extend my warmest greetings to you all.

The year 2024 has been a remarkable year of transformation, renewal, and growth for Gobi JSC. At the beginning of the year, I had the honor of being appointed as the Chief Executive Officer, taking the helm of a company with a 43-year legacy—an appointment that is not only a great privilege but also a significant responsibility.

In assuming this role, I have been committed to preserving the company’s core values while pursuing renewal and growth. Our aim is to expand the reach of the GOBI brand—Mongolia’s leading name in the wool and cashmere industry—on the global stage by implementing strategies grounded in sustainable development and technological innovation.

In 2024, Gobi JSC generated MNT 247 billion in sales revenue, with domestic sales accounting for 66%, export sales for 24%, and overseas sales for 10%, respectively.

To strengthen the domestic market, we introduced a loyalty program for our valued customers and completely revamped our flagship store to offer a more comfortable and refined shopping experience. In foreign markets, we revised our marketing strategy, focusing on organic growth and brand value enhancement, while working diligently to improve profitability.

In pursuit of elevating Gobi JSC’s global presence and competitiveness, we undertook a comprehensive rebranding initiative in 2024. As a result, the GOBI brand has, for the first time, adopted a symbolic emblem, launching its products with a refreshed logo and visual identity.

Moreover, we placed particular focus on enhancing operational efficiency by implementing the 6S methodology throughout the company, fostering a well-organized and productive environment in both factory and office spaces. This has improved workflow, strengthened collaboration among employees, and enabled faster and more effective decision-making.

In our endeavor to automate business operations and increase productivity, we successfully launched the SAP S/4 HANA ERP system company-wide, advancing our system capabilities to the next level. Furthermore, we take pride in being the first in Mongolia’s light industry sector to implement MES and production line systems. These technologies are vital for enhancing manufacturing efficiency, optimizing processes, and enabling timely and precise financial management and decision-making.

In terms of design development, we expanded our product range by introducing various new models of cashmere footwear, as well as new lifestyle items such as visors, bags, and the CashmereTECH parka. This diversification demonstrates that cashmere is not limited to garments alone, but can serve as a foundation for an entire lifestyle. We remain committed to developing innovative, need-based products and bringing them to market.

I would like to emphasize that the success of our company is the result of the dedication of our management team and every employee, the trust of our customers, the steadfast support of our shareholders, and the collaborative partnership of our business associates.

Looking ahead, we shall resolutely implement policies that foster the growth and engagement of our most valuable asset—our employees—while enhancing productivity and satisfaction. We will continue to uphold our leadership in Mongolia’s cashmere industry, strive toward sustainable development, and work unwaveringly to establish GOBI as a distinguished brand in the global marketplace.

Let’s continue to grow and succeed—together.

With highest regard,

CHIEF EXECUTIVE OFFICER
B. Amarsaikhan