3D Engineering: Announcement of Resolutions from the First Meeting of the 4th Board of Directors in 2019
Release date:
2019-02-26
Security Code: 002469 Security Abbreviation: Sanwei Engineering Announcement No.: 2019-003
Shandong Sanwei Petrochemical Engineering Co., Ltd.
Announcement of Resolutions from the First Meeting of the 4th Board of Directors in 2019
I. Status of the Board Meeting Shandong Sanwei Petrochemical Engineering Co., Ltd. (hereinafter referred to as the "Company") issued the notice for the First Meeting of the 4th Board of Directors in 2019 on February 19, 2019, via email, telephone, and other means. The meeting was held on February 25, 2019, at 9:00 a.m. in the Company’s fifth-floor conference room located at No. 22 Lianchangzhong Road, Linzi District, Zibo City, Shandong Province, adopting a hybrid format combining on-site participation with remote voting. Nine directors were scheduled to attend the meeting (including three independent directors), and all nine directors actually participated. Additionally, all members of the company’s supervisory board and senior management attended the meeting as non-voting observers. The meeting was chaired by Mr. Qu Sixiu, Chairman of the Board, and its convening fully complied with the provisions of the Company Law and the company’s Articles of Association.
II. Review of the Board Meeting 1. The proposal titled "Proposal on Accruing Asset Impairment Reserves for 2018" was reviewed and approved by the Board with 9 votes in favor, 0 against, and 0 abstentions. After thorough discussion, the Board concluded that the current provision for asset impairment reserves strictly adheres to and complies with the requirements outlined in the "Enterprise Accounting Standards," the "Guidelines for Standardized Operations of Listed Companies on the SME Board of Shenzhen Stock Exchange," as well as the company’s relevant accounting policies. This provision was made based on prudent principles following impairment tests conducted on the actual condition of the relevant assets. The decision to accrue asset impairment reserves is well-founded and accurately reflects the company’s financial position, thereby enhancing the reliability and authenticity of the company’s accounting information regarding asset values—making it both reasonable and appropriate. For detailed information, please refer to the "Announcement on Accruing Asset Impairment Reserves for 2018" (Announcement No.: 2019-005), published in the *China Securities Journal*, the *Securities Times*, and available on the Cninfo website (http://www.cninfo.com.cn). The company and all members of the Board hereby assure that the disclosed information is true, accurate, and complete, with no false records, misleading statements, or material omissions. 2. The proposal titled "Proposal on Establishing an Information Center" was also reviewed and approved by the Board with 9 votes in favor, 0 against, and 0 abstentions. Once established, the Information Center will focus primarily on data center infrastructure development, taking charge of managing the company’s information systems, overseeing network operations and maintenance, administering the construction and management of digital delivery systems, and handling the digitization of archival and publishing processes. Through these responsibilities, the Information Center will provide robust data, IT solutions, and platform support to facilitate the company’s production, operations, and business growth.
III. Supporting Documents 1. Board resolution signed by the attending directors and sealed with the company’s board stamp; 2. Other documents as required by the Shenzhen Stock Exchange.
Announced hereby.
Shandong Sanwei Petrochemical Engineering Co., Ltd. Board of Directors, February 25, 2019
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