The Group Company holds its 2024 First-Half Business Operation Analysis Meeting.

On September 5, 2024, the Group Corporation held its first-half business performance analysis meeting, summarizing the company’s economic operations over the past six months, assessing the current market situation, identifying existing challenges and issues, and outlining key tasks for the upcoming period. During the meeting, the Finance Center provided an analysis of the financial data for the Group Corporation and its subsidiaries, while each subsidiary presented detailed reports on their production and operational activities during the first half of the year. Qu Sixiu, Party Secretary and Chairman of the Group Corporation, attended the meeting and delivered an important speech. Feng Yiyuan, President of the Group Corporation, chaired the meeting and also addressed the attendees.

Release date:

2024-09-11

　　On September 5, 2024, the Group Corporation held its first-half business performance analysis meeting, summarizing the company’s economic operations over the past six months, assessing the current market situation, identifying existing challenges and issues, and outlining key tasks for the upcoming period. During the meeting, the Finance Center provided an analysis of the financial data for the Group Corporation and its subsidiaries, while each subsidiary presented detailed reports on their production and operational activities during the first half of the year. Qu Sixiu, Party Secretary and Chairman of the Group Corporation, attended the meeting and delivered an important speech. Feng Yiyuan, President of the Group Corporation, chaired the meeting and also addressed the attendees.
 

　　Director Qu mentioned that the group company held an operational performance analysis meeting primarily to enhance business awareness, improve organizational efficiency, bridge gaps and clear up misunderstandings, and align everyone’s mindset. The meeting also aims to build an internally complementary and interconnected platform within the group through operational analysis, ultimately achieving the "1+1>2" synergy effect. Director Qu emphasized that the meeting should be grounded in comprehensive budget management and the accountability framework for work objectives, with careful preparation of all supporting materials. By conducting benchmarking analyses, the team will identify gaps, pinpoint issues, and proactively address them.

　　Qu Dong outlined the requirements for the second-half work: 1. Stay firmly goal-oriented, aiming to fulfill the 2024 Work Target Responsibility Letter issued by the Group Company. 2. Maintain a problem-oriented approach, identifying issues across the entire Group, its subsidiaries, and various business segments, thoroughly analyzing them, and implementing effective solutions to prevent recurrence. 3. Uphold a market-driven strategy: The engineering company should adhere to the "80/20" rule, nurturing and retaining its core, high-quality customer base, while manufacturing enterprises should conduct comprehensive market research to stay ahead in their respective markets.

　　4. Adhere to standardized practices—as a publicly listed company, it’s essential to operate in a disciplined and transparent manner. Only through standardization can enterprises achieve sustainable growth. While compliance doesn’t eliminate risks entirely, operating without proper standards inevitably increases them. Therefore, it’s crucial to cultivate a strong risk-awareness mindset.

　　Mr. Feng conducted a comprehensive analysis of the semi-annual report data from all A-share listed companies and noted that most enterprises have now entered the maturity stage of their development, marking the beginning of an era characterized by stock-based competition. He emphasized that, in order to maintain strong profitability at this stage, companies must focus on enhancing operational efficiency. Mr. Feng outlined five key requirements: 1. Continuously strengthen and elevate our technological leadership, fully leveraging the quality advantages of our alkyd ester production as well as the flexibility of our manufacturing processes. 2. Strictly control costs, actively pursue energy conservation and consumption reduction, and ensure that we retain our competitive edge in terms of cost-effectiveness. 3. Embrace innovative thinking, adopting fresh approaches and initiatives to boost our market development capabilities and elevate our market presence. We must stay committed to expanding into downstream sectors and seize new opportunities for growth. 4. Break down and analyze the composition of expenses meticulously, benchmarking against industry peers to ensure prudent cost management, while further accelerating the market-oriented transformation of relevant roles. 5. Strengthen risk management by allocating more resources to nurture and maintain relationships with key clients such as central and state-owned enterprises. Meanwhile, for ordinary supplier clients, we should establish a robust, science-based screening process and a sophisticated risk assessment mechanism.

　　Sun Bo, Vice Chairman of the Group Company, along with senior executives from the Group Company, key leaders from various subsidiaries, heads of all departments, and other relevant personnel from the Group attended the meeting.

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