Baisheng Chen

Responsibilities:In Charge of three companies (SPS/LSC/CCV) Finance & Controlling ,Procurement, IT, Compliance, Annual Operation Revenue over RMB 3.0 billion. Strategic planning: Prepare the 3~5 years strategic planning, including Investment, Operation Risk, R&D, Market Share, and Project Risk evaluation. Comprehensive budget management: Optimize the budget management and control model ; Lead Annual Operation / Project Plan, Prepare the monthly/quarterly rolling forecast, and track real time to ensure the achievement of budget target. Financial analysis: Establish accurate financial analysis system link to operation, and products / customer profitability analysis model; monthly monitoring of operation result of profit/capital/investment, analysis of variance Act vs Budget, drive and implement improvement action. Financial control: ensure the achievement of operation profit/cash flow and other business target. --AR control: Clear/collect AR overdue RMB 3.0 million, Establish the AR overdue management and control regulation; the overdue rate down 2.8% --Tax planning: Improve R&D cost deduction approach of high-tech enterprises, and saved tax cost RMB 5 million each year. --Procurement and manufacture reduction: Via E-auction for package/logistics/scrap dealing, procurement cost reduce RMB 10 million per year. Analyze manufacturing costs with tools of VAVE and CIS (Continue Improvement System), resulting in manufacture cost reduction RMB 15 million per year. --Measure for pandemic: While sales drop, Create and implement "COST ON ME" budget management and awarded ZF Global " benchmark plant "for operation cost control. Internal control: awarded "2019 internal control satisfaction plant” in global internal audit. Team management: Regular training and experience sharing, Good at cultivating generalists, motivate staff for self-driving, strengthen operation control/business-finance integration ability, and build professional high-performance team through incentive KPI.

Responsibilities: In charge of two plants with 3 BU (Chasis, Structure and Exhaust & Engineering System) Comprehensive budget management: Based on the operation characteristics of two plants with three BU products, introduce zero-based budget and rolling forecast, assign the operation target to each function depts. with related KPI to ensure the realization of operation target of profit, cash flow and investment. Management system reconstruction : Establish clear management system of duty, responsibility matching with corresponding authorization, improve internal control system and process, set up key control point for procurement, sales, R&D etc., and monitor the effective implementation. Sap system optimization: Through optimization of SAP system, Integrate finance controlling for business operation, accurate analysis of product/customer profitability. --Cost model optimization: Optimize BOM, Routine based on the operation request and production model. With ABC(Activity Based Cost) approach to assign Overhead accurately to each project/products in three BU --Process optimization: Optimize the standard cost accounting process in SAP system, set the monthly end-closing procedure and schedule for each SAP model, make the material cost flow match with material physical movement . improve the efficiency and accuracy of FI/CO end-closing. --Cost analysis: set up project analysis model, track the profitability of each product /project from operation dimension, and find out further production cost down opportunity. Investment management and control: manage and control investment via IRR /payback /net cash flow, etc., evaluate the ROI, find the potential risks of investment , ensure investment target achievement . New products costing support: Establish the cycle control mode of "forecast –analysis -optimization", and manage and control the whole life cycle cost from the aspects of product/customer, etc., to ensure the related profitability.

Financial strtegic planning & budget: According to HQ strategic target and company AOP(Annual Operation Plan), develop the financial strategic planning, organize and prepare the annual comprehensive budget, and the monthly rolling forecast , track the implementation. Sap system optimization: Optimize SAP FICO/PP/QM/MM model and standardize month end-closing procedure, the related efficiency increase over 60%,the accuracy greatly improved. Financing& capital management: innovatively utilize the conditions of foreign affiliated companies to make LBOR DOLLAR loans, significantly reduce interest cost, and avoid losses caused by foreign exchange changes ;Improve payment term with BAD( Bank Accepted Draft) and increase cash flow by RMB 10 million each year. Account receivable management and control: Work with business team, establish customer credit rating, set sales credit limit, adopted export insurance policy, strongly support market development, and reduced bad debts 20%. Operation cost control: Through the implementation of the cost/expense budget management, and daily operation supervision, the production cost decrease RMB 6 million per year. Financial management and control: Capital control/tax/receivables and payables/inventory/month end-closing/internal and external audit, etc., daily operation cost management and control for operation target achievement. Reason for leaving: To settle down in Shanghai and take care of family.

Financial strategy in china: For the operation strategy of the three companies in China, integrated financial strategy, established centralized financial strategic planning through unified ERP-SAP. Manage operation revenue EUR 400 Mio. Sap set up: Unify the ERP system in three companies, optimize financial management and process in China, and make the SAP go live successfully. Daily financial control: Daily manage receivables and payables, general ledger and operation costs based on German headquarters' requirements /IFRS standards ;Prepare monthly financial report and provide financial advice; responsible for external audit from E&Y Performance and contribution: Apply for the qualification of high-tech enterprise for 15% income tax; Build a professional/dedicated financial team in China.

Promotion: Cashier → Accountant (import and Export Company) → Supervisor (Vietnam Plant) → Financial Manager (Headquarters/Jiangdong (USA) Company). Financial work in HQ: Optimize financial planning/Costing /control system, operation risk control, support the group month end closing and consolidate financial report; Set the KPI link to each Functional Dept. performance .Participate negotiation of major investment. Financial work for us branch: regularly analyze operating result and variance, make business proposal to US branch. Financial work in Vietnam plant: Work in Vietnam 4 years, assist the general manager, build new plant, manager and control business and operations including procurement/inventory/production/sales; Study Vietnam's accounting and tax policies and regulations, establish local accounting, internal control, financing and tax management system. Financial work in import & export company: international settlement for export, foreign exchange verification, tax refund of export, check/collect foreign receivables