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The Group Held the Third-Quarter 2019 Production and Operations Analysis Meeting

2023/08/31

On October 28, China Chengtong held its 2019 Third-Quarter Production and Operation Analysis Meeting at the Group’s headquarters. The meeting reviewed the Group’s performance in the first three quarters, analyzed existing problems and shortcomings, outlined key priorities for the fourth quarter and the subsequent phase, and advanced the comprehensive completion of all 2019 production, operation, and capital management tasks.

Zhu Bixin, Secretary of the Party Committee and Chairman of the Group, and Li Hongfeng, Deputy Secretary of the Party Committee and President, attended the meeting and delivered speeches. Tong Laiming, Vice President, presented a report on the Group’s budget execution and financial performance for the first three quarters of 2019. The meeting was chaired by Li Yousheng, Vice President. Relevant officials from the Sixth Inspection Team of the State-owned Assets Supervision and Administration Commission of the State Council, as well as members of the Group’s leadership team, also attended the meeting.

In his address, Zhu Bixin fully commended the Group’s performance in the first three quarters and set forth requirements for effectively carrying out key tasks in the fourth quarter and the subsequent phase. First, we must earnestly cooperate with the Sixth Inspection Team of the Party Committee of the State-owned Assets Supervision and Administration Commission in conducting its inspection of the Group’s Party Committee, elevate our political awareness, proactively provide full support, thoroughly identify problems, and rigorously implement corrective measures. Second, we must ensure the successful completion of the 2019 budget targets and all work assignments set at the beginning of the year. Third, we must further advance pilot initiatives for deepening reform, maintain firm confidence, liberate our thinking, assume greater responsibility, and ensure that by the end of 2020 we achieve landmark results in the capital operations reform pilot program. Fourth, we must further strengthen grassroots Party building, reinforce discipline enforcement and accountability, and use high-quality Party building to drive high-quality development. Zhu Bixin emphasized that Party organizations and management teams at all levels of the Group must work together to identify problems, address shortcomings, pursue further reform, and embark on a new journey, so as to successfully complete all 2019 tasks and lay a solid foundation for the Group’s high-quality development.

Li Hongfeng provided a comprehensive summary of the Group’s performance in the first three quarters across seven key areas—production and operations, fund investment, equity platforms, asset management, reform and restructuring, safety and environmental protection, and Party building—and conducted an in-depth analysis of the most salient challenges facing the Group’s production and operational activities. With regard to the Group’s next steps, Li Hongfeng emphasized the need to remain performance-oriented and strive to usher in a new phase of production and operations. Specifically, he outlined five priority measures: first, leveraging the leading role of Party building; second, mounting a decisive campaign to address losses and enhance quality and efficiency; third, focusing on EVA-based performance as the critical lever; fourth, harnessing the guiding power of the performance appraisal system; and fifth, capitalizing on strategic planning as the driving force behind organizational progress. Li Hongfeng underscored that during the fourth quarter, it is essential to make the most of this precious window of opportunity, maintain high morale, and ensure coordinated action across all fronts. Key priorities for this period include cooperating with the inspection tour, implementing the annual budget, convening specialized symposiums and seminars, preparing the 2020 budget, refining the performance appraisal framework, and de-administering and de-organizationalizing the headquarters—six critical tasks that will lay a solid foundation for achieving a strong start to the new year.

All employees of the Group Headquarters, as well as the principal Party and administrative leaders and chief accountants of the enterprises funded by the Institute based in Beijing, attended the meeting at the main venue. Members of the leading teams and department heads or above of the funded enterprises, along with some members of the leading teams of third-tier enterprises, participated in the video conference at the sub-venues.

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