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Shandong Gold Group Held Award Ceremony of Shandong Gold Group 2016 &Work Planning Conference 2017

Release time:

On January 10, Award Ceremony of Shandong Gold Group 2016 &Work Planning Conference2017 was held in Jinan.

Shi Min, Deputy Secretary of Party Committee of provincial SASAC and Chen Yumin, Chairman of the Board and Secretary of the Party Committee of the group,attended the conference and delivered speeches. Li Guohong, General Manager of Shandong Gold Group and Chairman of the Board of Shandong Gold Mining Co., Ltd. (SHA: 600547),made a working report on production and operation in 2016. Gao Wei, Member of Standing Committee of Party Committee and Secretary of Commission for Discipline Inspection, read the decision of commendation. More leaders attended the conference, including: Wang Shaoliang, Chairman of Board of Supervisors, Wang Lijun and Li Xiaoping, Members of Standing Committee of Party Committee; Cui Lun, Hou Chengqiao and Pei Dianfei, Deputy General Managers; Li Zhongyi, Investigator, and Wu Naidong, Chief Financial Officer. Chen Yumin and Chen Daojiang, Deputy Secretary of Party Committee, presided over the conference successively.

In his speech, Shi Min highly praised Shandong Gold of its successful completion of tasks assigned by the provincial SASAC and the achievement of maintaining and even increasing the value of state-owned capital under the complex and changing economic situations and the stagnant mining market. He pointed out that during the period that the province is implementing the spirits advocated in the Party's 6th Plenary Session of the 18th Politburo as well as central and provincial economic working conferences, this conference held by Shandong Gold was of great significance for uniting thoughts, building consensus of development, promoting reform and fully promoting the "13th Five-year" Plan. He stressed that price of mineral products remains low based on current market demands, Shandong Gold has fully implemented the working plans assigned by the provincial Party Committee, provincial government and provincial SASAC, reasonably built the strategic layout of the "13th Five-year" Plan, and continuously promoted innovation, quality and efficiency. As a result, the Group has achieved substantial growth in all business indicators, and fully completed tasks assigned by the provincial SASAC.

As for the next step, Shi Min pointed out that we must firmly grasp the keynote of keeping stable while seeking progress, focusing on the structural reform of supply front, thoroughly implement the spirits put forward at the central and provincial economic working conferences, further deepen the reforms, and fully promote substantial progress of the five tasks of "reducing capacity, destocking, deleveraging, reducing cost and making up for shortcomings", so as to make new contributions to the province's economic and social development. He added that we must also deepen our understanding, fully implement the primary responsibility for strictly administering the party, and strengthen and improve the party's leadership over state-owned enterprises, so as to set the reform and development of enterprises to the correct direction.

Chen Yumin pointed out in his speech that 2016 was the starting year of the "13th Five-year" plan of the Group. According to the two requirements of "going ahead", Shandong Gold positioned itself at a high level with pressure. While comparing itself with international and domestic advanced enterprises, it made many painstaking efforts in laying foundations, setting frameworks and making long-term plans with numerous brilliant achievements. The Group was thus praised by investors with full support from employees. It was praised by leaders of provincial Party Committee, provincial government and provincial SASAC. He stressed that the past year has proved again that the far-sighted strategy of Shandong Gold is reasonable and correct, which strongly promoted production and management. It not only indicated the direction, but also united everyone together. The culture of Shandong Gold rooted in employees is the spiritual power that unites them and overcomes all difficulties. Corporate culture, such as those core values, spirits and missions are the capsule of corporate spirits showing concern for employees, employees being loyal to enterprise as well as its social responsibility. The measures of staffing that value ready, skillful and audacious employees and center on positive stimulation are the secret of hassle-free management and fruitful development.

For the direction in 2017, Chen Yumin set down a few requirements. First, we should fully recognize and attach great importance to various difficulties, and prepare well before a decision. The Group should devote as many efforts as possible to cut the cost. Cost reduction should be included in the comprehensive ranking list as an important index, and the comprehensive ranking list should play the role of a baton. Second, we should fully understand the new normal of strict supervision of safety and environmental protection, carefully learn the experience of safety and environmental protection management from the world famous gold mining companies, and gradually comply with international standards and synchronize with the governmental supervision. Third, we should make full use of capital operation platforms, organically combine industrial capital with financial capital, and seize those favorable opportunities to increase efficiency of capital operation. Fourth, we should make full use of policy incentives and talent-oriented measures to mobilize the enthusiasm of both cadres and employees; by focusing on the two key points of "selecting talents who are ready and audacious", the Group should improve positive incentives, further emphasizes the spirit of hard work and build fault-tolerant mechanisms. Fifth, we should make full use of the relevant policy on zombie companies to increase the intensity of liquidation, so as to keep the Group “fit” and healthy. Sixth, we should establish a correct view on world and life, deem repaying the country by developing industries, realizing strategic goals of the group, promoting social position and increasing employees' income as one's own duties, and establish a strong sense of professionalism and responsibility.

Li Guohong made a working report titled Enterprising without forgetting the original goal, continuing reform at the crucial time to increase quality and efficiency, and promoting the"13th Five-year” Plan of the Group with enthusiasm. When reviewing the group's production and operation work in 2016, the report gives a comprehensive analysis on the group's completion of production and operation indicators, and summarizes highlights on the six aspects of strategic objectives, state-owned enterprise reform, international mergers and acquisitions, asset restructuring, enterprise culture and safety and environmental protection as well as the measures taken by various departments at all levels. First, we should pay close attention to the coordination of strategy; various business sectors should be developed at the same pace; second, we should pay close attention to the structural reform of the supply front and achieve early results on the "five tasks"; Third, we should pay close attention to management innovation and fully release efficiency of the enterprise; Fourth, we should pay close attention to long-term sustenance of development momentum; the momentum should continue to improve; Fifth, we should pay close attention to the scientific and technological research and further deepen the research in key areas; Sixth, we should pay close attention to the "dual-base" management and create a stable situation on safety and environmental protection; Seventh, we should strengthen the Party's construction and fully promote strict administration of the Party.

According to the report, the Group should adhere to "one direction" and fully accelerate the pace of promoting the strategy in 2017; the Group should make "three breakthroughs", namely, breakthroughs on output and profits, improving management and momentum cultivation, and widely cultivate new economic growth points; the Group should advance "five tasks" and deepen structural reform of the supply front; the group should build the "three supporting points" stronger, that is, cultural promotion should be "deep", safety situation should be "stable", and discipline inspection and supervision should be "strict", ensuring the healthy and rapid development of the group; the group should adhere to the "five principles" to achieve sustainable development.
At the conference, heads of all business divisions, some subsidiary groups and tertiary companies reported their work for 2016, and expressed their commitment to the objectives for 2017. The Group signed 2016 business performance responsibility agreements with each business division and subsidiary group.

Companies and teams that made outstanding contributions in 12 aspects in 2016 were awarded at the conference, including gold output, gross profits, cost reduction and efficiency improvement, exploration and reserves increase, safety and environmental protection, management innovation, Party building and corporate culture.

Other participants of the conference included: assistants to the General Managerof Shandong Gold Group, chief engineers (supervisors), heads of departments at headquarters, management of subsidiary groups (companies), heads of three levels of party organization of the group, persons who received prizes as well as representatives of retirees etc.