Letter from The Chairwoman
Dear Shareholders, I extend my warmest greetings to you.
Our company, Gobi JSC, is one of the first open joint-stock companies in Mongolia. As a member of the TOP-20 list on the Mongolian Stock Exchange, we are committed to introducing international best practices in governance, establishing a balanced and robust governance system, protecting shareholders' interests, and ensuring information transparency.
Our company, Gobi JSC, is one of the first open joint-stock companies in Mongolia. As a member of the TOP-20 list on the Mongolian Stock Exchange, we are committed to introducing international best practices in governance, establishing a balanced and robust governance system, protecting shareholders' interests, and ensuring information transparency.
Last year, the Board of Directors approved the "Investor Relations Program" and the "Stakeholder Engagement Management Plan," focusing on increasing stakeholder participation and safeguarding their interests. As a result, our shareholder base grew by 3.5%, reaching 24,000. We are delighted that the number of investors in our company continues to rise.
In recent years, environmental, social, and governance (ESG) responsibility has gained global prominence, with companies emphasizing long-term stakeholder value and sustainable growth. As an internationally recognized company, we aim to integrate sustainable development principles at every stage of our operations, conduct environmentally friendly production, and further strengthen our governance system.
As part of the "Sustainable Development Commitment," approved by the Board of Directors in 2022, we have actively supported and monitored the implementation of our sustainable development policies and goals. The Board has regularly overseen these efforts through meetings and guided the Executive Management Team to ensure successful outcomes.
For instance, during the "Sustainable Cashmere Day - 2023" event, we were recognized as "the best organization that introduced proper water usage in production." Additionally, at the "CSR Awards 2023," our "Sustainable Cashmere, Tripartite Joint Project," which we have been implementing since 2020, won the "Best Sustainable Development Project" award, highlighting the effectiveness of our step-by-step initiatives in sustainable development.
To support sustainable development activities and finance working capital, we successfully negotiated a $30 million financing agreement with the Asian Development Bank. We have received the first tranche and plan to continually increase investments aimed at sustainable development.
Another highlight of the past year was the establishment of our first rural area branch factory in Khentii Province. This new facility created over 100 jobs, increased our production capacity, and contributed to rural development.
In 2023, Gobi JSC implemented a flexible working time system for office employees and a shortened working time system for factory employees with infants and kindergarten-age children. This initiative, part of our Sustainable Development Policy's "Happy Employee" goal, aims to ensure work-life balance. We will continue to foster a favorable workplace environment, provide opportunities for employee learning and development, and continuously enhance organizational culture through increased salaries, incentives, and overall job satisfaction.
We deeply appreciate the support of our dedicated employees, loyal customers, valued partners, shareholders, and all our stakeholders. Your contributions are the foundation of our success.
The Board of Directors of Gobi JSC wishes you all the best in your work, health, and well-being. May your endeavors be met with success, and may good health and prosperity accompany you in all your pursuits!
CHAIRWOMAN OF THE BOARD
D.GERELMAA (Ph.D.)