The engineering company held its 2026 mid-year work conference and staff general meeting.
Release date:
2026-07-30
On July 29, 2026, the Engineering Company convened its 2026 Mid-Year Work Conference and Employee Assembly. The meeting conducted a comprehensive review of all operational and developmental initiatives undertaken in the first half of the year, thoroughly analyzed industry trends and internal management shortcomings, and meticulously outlined key tasks for the second half. It also called on all employees to adopt a more decisive work style, assume greater accountability, and make every effort to achieve the company’s annual objectives. Qu Siquiu, Secretary of the Group Party Committee and Chairman, attended the meeting and delivered an important address titled “Adopting a Style of Steadfast Determination and Lasting Impact to Ensure the Comprehensive Achievement of Annual Goals.” Hao Wenliang, Vice President of the Group and General Manager of the Engineering Company, presented the “General Manager’s Work Report for the First Half of 2026.”
Qu Sixiu fully commended the Engineering Company’s pivotal role in the first half of the year as a key pillar of the Group’s profitability. He conducted an in-depth analysis of the current challenging landscape—marked by intensifying competition in the chemical engineering sector, the normalization of low‑price bidding, high levels of accounts receivable, and accelerating industry consolidation—and systematically identified shortcomings across key areas, including project operations, internal collaboration, R&D innovation, cash‑flow management, and digital transformation. He also thoroughly examined how the company’s competitive advantages have evolved from its early days as a publicly listed entity to the present. He emphasized that, to achieve stable and sustainable operations, the company must adapt to market dynamics, enhance its operational capabilities, pursue continuous innovation and improvement, ensure robust, cash‑flow‑driven earnings quality, and create greater value.
With regard to the second half of the year, Qu Sixiu set forth requirements across nine key areas: First, consolidate the existing business base by actively pursuing new sulfur recovery projects and advancing the Lu Oil–Lu Refining initiatives; second, expand into non‑sulfur‑related growth markets such as hydrogenation and new energy, while fostering synergistic development with the Group’s industrial divisions; third, implement lean cost management to reduce project costs at the design stage; fourth, establish efficient organizational governance to enhance internal collaboration; fifth, ensure prudent cash‑flow management; sixth, comprehensively strengthen employees’ business communication and customer‑service capabilities; seventh, build a high‑performing team and encourage staff to step outside their comfort zones; eighth, bolster research and development capacity and its practical application; and ninth, refine market‑oriented mechanisms and performance‑based incentive systems. In addition, he outlined specific expectations for certain matters and for meeting frameworks covering market analysis, project coordination, technical discussions, and financial reviews.
Hao Wenliang provided a comprehensive review of the engineering company’s operational performance for the first half of the year. During this period, the company consolidated its core competitive advantages in sulfur recovery, secured contracts for a number of key projects—including Shanghai Petrochemical, Shandong Oil & Refining, and Qingdao Refining & Chemical—and successfully implemented the strategic rollout of its Liaoning branch. It also entered into several new framework cooperation agreements with central state-owned enterprises, further expanding its business footprint in sulfur recovery, hydrogenation units, and other areas. However, amid multiple challenges—such as intense price competition in the industry, project schedule delays, extended payment cycles, and inadequate cost control—progress on certain key performance indicators fell short of expectations. Additionally, notable issues persist, including design‑quality deficiencies, weak project cost management, slow commercialization of research outcomes, and mounting cash‑flow pressures. With the full-year objectives in mind, Hao Wenliang set forth specific requirements across revenue and profit, market development, production organization, technological and scientific management, and other areas, while outlining targeted measures for the second half of the year. He urged all employees to stay focused on key metrics, assume clear accountability, accelerate progress, and make every effort to achieve the year’s goals and successfully complete all assigned tasks.
The meeting called on all departments and branch offices to promptly convey and implement the spirit of this session, align with the annual objectives, refine tasks, and ensure accountability, thereby addressing operational challenges with a down-to-earth, pragmatic work style. All employees are urged to unite as one, rise to the occasion, and make every effort to achieve the year’s business targets, thus driving the high-quality, sustainable development of our engineering operations.
Feng Yiyuan, President of the Group Company, and all employees of the Engineering Company attended this meeting.
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