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Li Keming, Chairman of the Supervisory Board of Key State-Owned Large Enterprises, and his delegation visited Hongta Renheng for research and guidance.

2023/08/31

On October 25, 2016, a delegation led by Li Keming, Chairman of the Supervisory Board of Key State-Owned Large Enterprises, and Ma Zhengwu, Chairman of China Chengtong Holding Group Co., Ltd., visited Zhuhai Hongta Renheng Packaging Co., Ltd. (hereinafter referred to as “Hongta Renheng”) to conduct research and provide guidance on its work.

Chairman Li Keming and his delegation first conducted an on-site inspection of Hongta Renheng Company’s Research and Development Center, the BM2 high-end coated white cardboard production line, and the BMF solid biomass molded fuel project. Huang Xin, Chairman and General Manager of China Paper Industry Investment Co., Ltd., Ji Xiangdong, General Manager of Hongta Renheng, and other members of the company’s leadership team accompanied the visit and provided detailed briefings.

During the on-site inspection, Chairman Li Keming and his delegation conducted a comprehensive and detailed review of various aspects, including the sources of wood pulp raw materials for papermaking, the company’s production equipment, technological level, product mix, product standards, paper characteristics, patented technologies, the company’s environmental protection efforts, and its applications of biomass energy.

During the research visit, Chairman Li Keming and a delegation led by Chairman Ma Zhengwu also heard detailed briefings from China Paper and Hongta Renheng on their current operations and development plans.

Chairman Li Keming stated that Hongta Renheng should proactively strive to become a leader in setting and formulating industry standards in the paper sector, actively participating in the development of both industry-wide and product-specific standards. At the same time, the company should vigorously challenge conventional thinking and move toward establishing long-term, stable strategic partnerships with suppliers and customers, jointly sharing market risks and uncertainties to thereby optimize the overall industrial ecosystem.

Chairman Li Keming also stated that, through this supervisory board’s inspection of real-sector enterprises, he has gained a deeper understanding and appreciation of the real economy. The business scope of the entire Chengtong Group is continuously expanding, with initiatives spanning expansion from traditional to emerging sectors, from the domestic market to international markets, and from the real economy to capital operations. In terms of management, both Chengtong Group and China Paper have steadily refined their governance structures, made significant strides in equity incentive programs, placed a strong emphasis on lean management, achieved remarkable results in cost reduction and efficiency enhancement, and seen continuous improvement in performance. Overall, given the initially unstable foundation, the achievements attained thus far are the result of extensive and effective efforts.

In conclusion, Chairman Li Keming put forward the following hopes and requirements for Hongta Renheng:

1. Uphold innovation-driven development: Hongta Renheng is a traditionally oriented enterprise, and it must remain steadfastly innovation-focused—ranging from transforming manufacturing into large-scale, customized service models to innovating its business models—so as to continuously enhance its core competitiveness and key technologies. The company must develop irreplaceable technologies and business models to secure a competitive edge in the market.

2. Uphold strategic guidance: State-owned enterprises generally exhibit relatively weak strategic planning and control. At present, the transformation of Chengtong Group both presents opportunities and poses challenges for its subsidiaries. Subsidiaries must steadfastly follow Chengtong Group’s strategic guidance, leverage its strategic development platform, and place the alignment of their own corporate positioning with the Group’s strategic development roadmap at the highest priority.

3. Pursue Transformation and Upgrading: Enterprises must steadfastly pursue transformation and upgrading to enhance their performance and strengthen their competitiveness. First, they should adopt prudent management, as the development of the capital market ultimately depends on the real economy. Second, on the basis of sound operations, they should actively seek opportunities and strive for leapfrog growth.

Finally, Chairman Ma Zhengwu emphasized that the future development of Hongta Renheng Packaging Paperboard must prioritize disruptive and open innovation; place greater emphasis on fostering innovation across the entire organization and on setting industry standards; and further increase investment in research and development as well as quality testing. He noted that state-owned enterprises possess inherent advantages, but their institutional mechanisms lack sufficient flexibility and therefore require continuous improvement.

Tao Yongsan, Director of Office No. 08 of the Supervisory Board of Key State-Owned Large Enterprises; Sun Qinghong, Deputy Director; and Wu Xiangwen, Full-Time Supervisor, attended the research visit.

Dan Zhongli, Deputy Secretary of the Party Committee of Chengtong Group, Conducts a Research Visit to Hongta Renheng and Provides Guidance on Its Work

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