Liu Mingjun, Chairman of Sinochem Geotechnical Group

On February 15, Chairman Liu Mingjun of Sinochem Geotechnical Group led a delegation, including Vice Chairman and General Manager Deng Mingchang, Executive Deputy General Manager Lian Wenzhi, Chief Financial Officer Xiao Bingbing, Board Secretary Luo Xiaofeng, and Deputy General Manager Chen Qiang, to visit Shanghai Yuanyang and hold working discussions with its leadership team.

At the meeting, Zhang Shibing, Executive Deputy General Manager of Shanghai Yuanyang, gave a detailed report on the company profile, current work, and future development plans, giving group leaders a comprehensive and in-depth understanding of the company's situation in all aspects.

Deng Mingchang, Vice Chairman and General Manager of Sinochem Geotechnical Group

During the work exchange session, Deng Mingchang, Vice Chairman and General Manager of Sinochem Geotechnical Group, required that Shanghai Yuanyang formulate a practical and feasible plan for collecting accounts receivable to improve the collection success rate; at the same time, it should carefully analyze the causes of profit and loss in past projects, thoroughly summarize project management experience, and strengthen project cost control.

In the session on arranging special inspection and rectification work, Luo Xiaofeng, Board Secretary of Sinochem Geotechnical Group, reported the problems identified in the 2022 special inspection of Shanghai Yuanyang and assigned rectification tasks and requirements.

Chairman Liu Mingjun of Sinochem Geotechnical Group delivered a concluding speech and deployed work requirements for the next stage. First, the group will increase support and services for Shanghai Yuanyang in the future, promote quality and efficiency improvement in all aspects of Shanghai Yuanyang's management, and boost its high-quality development. Second, Shanghai Yuanyang must strengthen its awareness of discipline and rules, strictly implement the relevant requirements of national laws and regulations and the group's rules and regulations in all work, and ensure that orders are obeyed and prohibitions are enforced. Third, Shanghai Yuanyang must enhance its sense of hardship, attach importance to collection work, properly resolve cash flow issues, and promote the company's healthy development. Fourth, it is necessary to streamline personnel, expand production, improve per capita output value and labor efficiency, and create conditions for increasing the income of cadres and employees. Fifth, it is necessary to optimize the equipment management model, strengthen process control of contracted projects, and improve the company's operational efficiency.

Finally, Liu Zhongchi, Chairman of Shanghai Yuanyang, stated that Shanghai Yuanyang will strictly implement rectification work, resolutely manage in accordance with laws and regulations, exercise strict control, conduct rigorous inspections, and firmly uphold bottom lines to ensure problems are rectified thoroughly; it will also boost morale, work with vigor, lead all cadres and employees to strive courageously and overcome difficulties, strive to achieve business objectives, and promote the company's high-quality development.