To conscientiously implement the deployments made by SINOMACH at the video meeting for analyzing and summarizing business operations of the first quarter, arrange for key work for the second quarter, and effectively promote epidemic prevention and control and work & production resumption, CMEC convened the “onsite + video” 2020 Q1 business meeting on April 24. The meeting was chaired by the Strategic Development and Coordinated Management Department and attended by company leaders as well as heads of business units, subsidiaries and relevant functional departments.

The Strategic Development and Coordinated Management Department, the Financial Head Office and the Investment & Financing Head Office reported the overall business operations, finance, investment and financing work of the first quarter of the year, respectively. Management departments reported their respective progresses in operational indicators, implementation of key work and key events of the year. The representatives of the business units and Beijing-based subsidiaries reported their business operations and difficulties and put forward opinions and suggestions, and relevant leaders made comments on the business operation of the companies they are in charge of.

In the first quarter, CMEC was severely hit by the pandemic and its main operational indicators were affected by varying degrees. In spite of this, the Complete Plants Unit signed contracts with a higher amount and achieved greater total volume of foreign trade on a year-on-year basis, and the design consultation business unit operated steadily and basically completed the requirements of operational indicators. Meanwhile, CMEC managers and employees laid equal emphases on epidemic control and work & production resumption and made remarkable achievements in their work.

In the face of the severe situation of the pandemic, CMEC stressed both the anti-pandemic work and work & production resumption and made remarkable achievements. For example, the Iraqi Saladin project office, since the COVID-19 began to spread in Iraq, has actively mobilized resources from home and abroad, purchased anti-pandemic supplies and medicines from China, Dubai and Baghdad, made intensive investigations, conducted strict control, launched publicity campaigns, strengthened supervisions over the anti-pandemic efforts, and coordinated subcontractors to carry out anti-pandemic work in an orderly way. Meanwhile, we laid equal emphases on and made persistent efforts for pandemic control and work & production resumption in spite of the tough situation, completed important project nodes such as power receiving of 400kV booster station, making of chemical water, and water pressure test of the No.1 boiler, giving strong impetus to the implementation of the project in accordance with the schedule! In such a special period, the Party branch of the project made use of its principal role, Party members set a good example, and all employees of the project office stuck together and strove to achieve results that satisfy the nation and the people!

In the face of the severe situation of work & production resumption, CMEC took precautions, sought opportunities in crises, actively explored new economic growth points, such as CMEC Dongyuan, CMEC International Trading, CMEC Suzhou Company, CMEC Henan Company, CMEC General Machinery, and CMEC Construction Machinery, etc. On the basis of actively acquiring the qualification of business operations of medical supplies, CMEC took full advantage of its resources at home and abroad, contacted extensively with foreign governments, non-governmental organizations and procurement companies, rapidly explored overseas markets of anti-pandemic medical supplies, formed a certain trade scale in the short term, and effectively made up the operating loss of the first half year. In order to regulate the business activities, the Equipment Technology Department of CMEC took a lead in formulating the Interim Provisions of CMEC on Quality Management of Exported Anti-Pandemic Products.

To meet the severe challenges of business management, CMEC strengthened communications, took an active approach to work, and started a new model for business operations and development. For example, on April 15, the principal leader of CMEC and the leaders of the First Business Department of SINOSURE held the first high-level coordination meeting for 2020 (video), signed the Key Points for Special Business Cooperation for 2020, defined the direction and goal of and made arrangements for the strategic cooperation between the two sides. On April 22, as the general contractor of Xuchang Nengxin Cogeneration Off-site Renovation Project, CMEC held a video ceremony for signing a trilateral strategic cooperation agreement with China Pingmei Shenma Group and China Minsheng Bank, laying a solid foundation for fast implementation of the project and creating an excellent model for its future cooperation projects with China Pingmei Shenma Group.

CMEC Deputy Party Secretary and General Manager Fang Yanshui summarized the meeting, pointing out that CMEC took a combination of effective measures for fighting against the pandemic and work & production resumption. So far, none of the 5,800 employees working in over 40 countries has been affected. Meanwhile, CMEC strove to ensure continuity of its production and business operations and has achieved fruitful results. He took the opportunity to thank all employees for their hard work, and thanked and sent his regards to overseas employees and their families!

Fang analyzed the production and operations of each business segments of CMEC and summarized the progresses of the key work in the first quarter. In the first quarter, CMEC worked to improve the approval process, adjust the core market management policies, and launch the special integration work, increased management efficiency and unleashed vitality. By strengthening the development of professional technologies, studying and formulating regional center policies, establishing centralized purchase centers, strengthening financing innovation, and promoting business coordination in an all-around way, CMEC has enhanced its overall competitiveness.

Fang put forward five requirements on the business operations for 2020: 1. Pay close attention to the policies and seize opportunities. 2. Attach great importance to the domestic market. 3. Seek opportunities in crises and expand new business. 4. Ensure high-quality integration between investment, construction and operations. 5. Make intensified efforts for wider application of business models with replicable advantages. Fang emphasized that we should, under the precondition of pandemic control, work persistently to overcome difficulties and take an active approach to ensuring normal operations, and we will establish special awards to encourage those subsidiaries to achieve their goals.

At last, CMEC Party Secretary and Chairman Bai Shaotong highly appreciated the meeting and put forward specific requirements on the quality of business meeting.

As for the production and business operations in the first quarter, Bai noted that it is worth to be praised as the business operations of CMEC is generally controllable and the achievements did not come easily in this special period. Such indicators as operating income and total profit are within the expected scope and remain above the average level of the companies of the industry, and all the employees of CMEC have achieved satisfying results in the hard time of the first quarter.

Bai stressed that the Party committee of CMEC is satisfied with the work of most leaders of the company in the first quarter. CMEC has made fruitful results in pandemic control and the overall anti-pandemic situation is generally controllable. In terms of business operation, the business management team headed by Fang worked to advance the functional reform of the head office, fostered synergies, made centralized procurements, made overseas deployments, strove to minimize the effect of the pandemic, and took solid and effective measures for work & production resumption.

Bai pointed out that there are still some problems in the current business operations of CMEC, for example, some leaders are out of form and need to improve their work style. He emphasized that we should not use the pandemic as an excuse, rather, we should examine ourselves to identify the causes of the problems, take an active approach to our work, try to “turn ideas and thoughts into plans, turn plans into contracts, turn contracts into income, turn income into profits, and turn profit into tangible cash flow”. This is the way of survival of an enterprise.

To fulfill the task and achieve the target of 2020, Bai put forward the following seven work requirements: 1. Further strengthen overseas pandemic prevention and control, ensure that no problem occurs to overseas projects, pay particular attention to the African market and the possible turbulence caused by the pandemic, and increase material reserves. 2. Develop unshakeable confidence, rise to the challenges, try every means to minimize the effects of the pandemic, focus on priorities, effectively analyze bottlenecks and difficulties, and make preparations for work. Functional departments should work out measures against the problems and create a favorable business environment. 3. Pay close attention to domestic and overseas economic situation during the pandemic, think about the changes after the pandemic, pay particular attention to regular pandemic control, domestic and overseas industrialized projects, economic incentive policies, and new types of business and opportunities caused by the pandemic. 4. Attach greater importance to and pay closer attention to the domestic market, and intensify efforts for market development by focusing on CMIE and JK Institute. 5. Make further progress in formulating the “14th Five-year Plan” of CMEC. 6. Pay high attention to workplace safety, particularly workplace safety, during the epidemic. 7. Give full play to the role of Party organizations and members, properly do relevant work of overseas employees and families, and give expression to the warmth of CMEC to its employees. Party members should play an exemplary role in all work. Bai, on behalf of the Party committee of CMEC, thanked the employees for their hard work and hoped them to deliver better work results in the second quarter.

Before the meeting, Bai and Fang went deep into the business units and subsidiaries to inspect epidemic prevention and control, business operations, listened to the opinions of basic-level employees, and worked out solutions, laying a solid foundation for the business meeting.