Meeting for Business Operation in 2016 Convened

In the afternoon of Jan 20, the company convened its meeting for business operation in 2016 to carry out further the guiding principle of the 18th CPC Congress, the Sixth Plenary Session of the 18th CPC Central Committee, the central government’s meeting for financial activities and the group company’s meeting for business operations, wrap up activities performed in 2016, analyze the current situations and schedule the activities in 2017. It is required the goal of building a world-class engineering company and carrying out the corporate 13th five-year development plan shall be focused upon. Efforts shall be to refine management and intensify reforms by seizing various opportunities and rising boldly to challenges. SEG shall cultivate its advantage in integration and core competitiveness and strive to be a leader in making the domestic refining and chemical technology and equipment a national “Visiting Card” by implementing the “Going Global” strategy.

The chairman of SEG Mr. Ling Yiqun attended the meeting and delivered a speech. The meeting was chaired by Mr. Lu Dong, vice chairman and secretary of the party committee. Mr. Xiang Wenwu, president delivered a report entitled as “To be a Leader in Building National Visiting Card by Seizing Opportunities, Refining Management and Intensifying Reforms”.  The top executives and the intermediary management in home office of the company and freight forwarders attended the meeting at the main venue. The top executives and intermediary management of various subsidiaries, R&D centers and branch companies attended the meeting at the sub-venue for video session.

Mr. Ling pointed out, despite the complicated and changing market and shrinking work volume in winter, all leaders and workers of the company, as guided by the party group of the group company, worked hard in defiance of the difficulties facing them and managed to achieve greatly as follows: (1). Indicators of business operation were fulfilled satisfactorily;  (2). The results of technical innovation are outstanding; (3). Guarantee for key projects is powerful; (4) Activities of party construction were carried out earnestly. Since its recombination and listing, the company surmounted various difficulties facing him to maintain its profitability stable. It also made great progress in corporate re-structuring, reform and development while expanding its size and technical strength, thus rendering more robust support for its further development and implementation of its “Going Global” strategy. These were achieved under the guidance of the party group of the group company and contributed jointly by previous and current top executives and all employees of the company through their hard work.

Mr. Ling pointed out, to summarize the achievements is for a better future. The party group of the group company holds high expectations towards the refining and chemical sector. They require us to make the refining and chemical technology and equipment business a new visiting card for Chinese manufacturing industry and take the lead in guiding Sinopec to go global by integrating our technical strength and motivating our own advantages. Considering the above expectations, the requirements for regulated management of companies listed in Hong Kong and SEG’s own vision for development, we must have a clear idea of and address our shortcomings and deficiency. To be stronger and bigger and accomplish the mission proposed by the party group of the group company, the company must persist in furthering its reforms and strive to develop rapidly. Mr. Ling also required: (1). Efforts shall be made to promote shift of ideas to be more resolute in reform and development; (2). Internal reform shall be intensified to motivate institutional advantages; (3). A firm basis for development shall be established to upgrade the level of safety and quality related benefits; (4). More efforts shall be exerted in exploring the market to make a national “Visiting Card” via combination of all forces. (5). Party construction activities shall be improved with play given to the political core function of party organizations.

Mr. Ling emphasized, while continuing its reform and accelerating its business development, the company shall be firmly conscious of politics, overall state situations, core task and alignment, have strong sense of accountability and strive to fulfill the targets established by the party group of the group company by building consensus and integration of forces. At last, Mr. Ling extended his early greeting to attendees to the meeting for the upcoming Spring Festival and wished all fitness and happiness.

Mr. Lu also specified its requirements as follows: (1). The corporate organizations shall communicate promptly and earnestly the guiding principle established by the group company on its annual business meeting and this meeting and seek improvement in their works while maintaining stability. They shall align their minds and actions with the latest requirements established by the party group of the group company. (2). Various party organizations shall carry out earnestly the guiding principle established on national party construction meeting for state-owned enterprises, promote comprehensively programs for party administration and fulfill their obligations relating with party governance and administration so as to gather mighty strength for further development. (3). Activities in the end of the year and in the beginning of the coming year shall be scheduled meticulously and valued highly. The Spring Festival is coming. Various organizations shall tighten their production safety, carry out strictly the responsibilities relating therewith, observe various rules and regulations for safety and do a good job in investigation and removal of safety incident potential before the Spring Festival. Operation of overseas project shall be scheduled meticulously during the Spring Festival and leaders must be on duty in key project areas. During the Spring Festival, visits to show concern shall be paid to CPC members and employees with economic hardships and retired workers. Good manners and clean conducts shall be promoted during the Spring Festival.

Mr. Xiang Wenwu analyzed in his report the situations facing the company in 2017 and mapped out the path forward and key activities to be performed by the company. To accomplish satisfactorily various corporate targets in 2017, Mr. Xiang Wenwu required: (1). Quality and safety management shall be intensified. (2). It must be ensured key projects both home and abroad are implemented satisfactorily. (3). All endeavors shall be made to explore markets in and outside of China. (4). Management shall be refined to promote consecutively efficiency in enterprise management. (5). Various measures shall be taken to prevent and mitigate enterprise risk exposure. (6). Continued efforts shall be made in technical innovations to upgrade the core competitiveness of enterprise. (7). Efforts to build national “Visiting Card” shall be scheduled and carried out quickly. (8). Capital operation and enterprise value shall be promoted via regulated business operations. (9). Reform shall be intensified to promote entire competitiveness of the enterprise. (10). Fulfillment of obligations shall be intensified to promote activities of party construction comprehensively and efficiently.

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