China Energy Convenes 2020 Mid-Year Conference

On July 22, China Energy Investment Group (hereinafter “China Energy”) convened its 2020 mid-year conference to review the work in the first half of 2020 and make arrangements for key tasks in the second half of the year based on analysis of the current situation. Wang Xiangxi, chairman of China Energy, attended the conference and delivered an important speech. Liu Guoyue, CEO of China Energy, gave a report on the work in the first half of the year at the meeting. Other China Energy leaders attending the conference included Zhang Guohou, Mi Shuhua, Bian Baochi, Wang Shumin, and Cai Anhui.

Wang Xiangxi pointed out that despite the challenges caused by the COVID-19 epidemic, all employees of China Energy have kept the big picture in mind and united to actively combat the epidemic and strive to resume production as quickly as possible. Thanks to their concerted efforts, China Energy maintained a steady development in the first half of 2020, with its business indicators bettering month by month, thus laying a solid foundation for accomplishing its yearly objectives. He stressed that the second half of the year is crucial to completing the task to eliminate poverty. China Energy should continue to seek progress while ensuring stability, focus on its yearly objectives, and keep a close eye on the indicators of “net profit, total profit, debt-asset ratio, operating profit ratio and research investment ratio.” In the premise of maintaining regular epidemic prevent and control, the group will coordinately advance all work to ensure it will get an A-grade in the year-end operational performance assessment by the State-owned Assets Supervision and Administration Commission, all risks concerning safe production are under control, the task to eliminate poverty is accomplished, and new progress is made in building a world-class benchmark enterprise.

In his work report at the conference, Liu Guoyue reviewed the work China Energy did in the first half of 2020, and made arrangements for key tasks for the second half of the year. According to the report, China Energy produced 260 million tons of coal and sold 340 tons, generated electricity of 451.1 billion kWh, transported 220 million tons of cargo by railway, accomplished shipments of 120 million tons at two ports, shipped 77.72 million tons of cargo, and manufactured chemical products of 7.88 million tons. All major production and operating indicators were higher than expected, maintaining a steady development. In the second half of 2020, China Energy will focus on five key tasks: First, promote safe production and environmental protection. The company will take concrete action to advance its three-year action plan for safe production, comprehensively consolidate the foundation for safety management, and constantly improve the construction of an ecological civilization. Second, increase output and revenues. The company will spare no effort to increase output, mend weak links, promote dynamic optimization of integrated operation, and further reduce costs and enhance efficiency. Third, promote the development of coal, power, transportation, and chemical industries by continuously optimizing industrial layout and structure. Fourth, implement relevant strategies, enhance planning-based integrated management, innovate driving forces, and strengthen risk management and control. And fifth, promote reforms and innovation. Through comprehensively deepening the reform of state-owned enterprises, the company will actively respond to industrial reforms, carry out in-depth specialized reforms and continually stimulate vitality and efficiency.