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Material Assets Reorganization Kickoff Meeting of Shandong Gold Group was Held in Jinan

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2013/04/10

On the morning of April 3, the material assets reorganization kickoff meeting of Shandong Gold Group (hereinafter referred to as “the Group”) was held in Jinan. Yu Changqing, chairman and secretary of the Party committee of the Group attended the meeting and made a speech. Chen Yumin, general manager and deputy secretary of the Party committee presided over the meeting and delivered concluding remarks. Deputy general managers Li Zhongyi, Li Guohong and Hou Chengqiao, and Gao Wei, secretary of the commission for discipline inspection also attended the meeting.

Yu Changqing pointed out that asset securitization had been the strategic requirement of the State-owned Assets Supervision and Administration Commission (SASAC) of Shandong Provincial Government for a long time and also been the strategic choice of the Group for achieving rapid development as it can standardize management, optimize assets quality and improve core competitiveness. He stressed that it was necessary to fully seize this opportunity of assets reorganization and make good use of the advantages that the Group as a listed company provides so as to further optimize theassets structure, and increase quality resources, and improve securitization ratio of the Group's assets. It was requested by Mr. Yu that relevant departments, enterprises and intermediaries should focus on the work objectives, put forward the goals as soon as possible and strive to complete the assets reorganizaiton with a quicker pace than excepted by nailing down their responsibilities and strengthening coordination.

Chen Yumin put forward specific requirements for this material assets reorganization, indicating that the reorganization initiated by the Group was a major measure to implement the guideline of meeting of leading directors of province-administered enterprises, which was of significance for improving the assets quality of listed company and the scalization of economic benefits. Therefore, service and security functions of the Group should be brought into full play and manufacturing enterprises should pay full attention to production and operation, sufficiently estimate the difficulties and problems, and take their own responsibility so as to fulfill the task ahead of time.

Chief financial officer, general manager assistant, general engineer (chief inspector), and the Board of Supervisors of the Group, and directors of relevant departments of the headquarters, as well as directors of relevant sub-group (subsidiaries) and intermediaries attended the meeting.

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