2016 Semi-annual President’ Office Meeting of Far East Holding Group was held inWuxion July 12. Jiang Xipei, Chairman of the Board and CEO of the Group, Jiang Huajun, Director and CEO of Far East Smarter Energy Co., Ltd (Abbreviation: Smarter Energy, stock code: 600869), Jiang Chengzhi, Director and Board Secretary of the Group as well as CEOs of the holding subsidiaries and the subsidiaries of the Group and the executives of the Group attended the meeting. The meeting was presided over by Jiang Xipei.

Meeting Scene

First, Jiang Chengzhi analyzed and expounded semi-annual macroeconomic situation and the group management situation and business plan; Chen Jianhong, CFO of the Group reviewed and reported the execution condition of financial budget in the first half of the year and the target of financial budget in the second half of the year; Jiang Huajun gave a business analysis report of Smarter Energy in the first half of the year and the business plan in the second half of the year. Then, CEO of each holding subsidiary summarized and reported the business analysis of his/her company in the first half of the year and the business plan in the second half of the year.

Jiang Xipei presided over the meeting and made a summative speech

Jiang Xipei highly affirmed the achievements obtained by the group company in the first half of the year; company operation continued to improve thanks to group investment and the profit contribution of the listed company, the internal operation quality rose constantly, total profit hit a new high, the market value has stepped into normal channel and the foreseeable development space is very large in the future. For the work in the second half of the year, he put forward five requirements:

I. Understand and consider the situation to make clear the direction. It’s particularly important for business leaders to correctly analyze and master the situation. Business managers, especially the decision makers, shall make the macroworld infinitely big and microworld infinitely small, shall not only understand the international and domestic political, military and economic situations, but also have an insight into the situation of the industry and the competitors, be firm in internationalization development path and the strategic direction of the main business plus investment.

II. Get the ideas into shape and be firm in goals. Ideas decide way out. Leaders should insist on the methodology and learn to observe the problems from multiple perspectives; they shall not only look at the problems based on their own posts, but also learn to consider from a higher level or even from the perspective of the industry and the state; they shall not only consider the future 1-2 years, but also look at future 5-10 years, achieving trying to realize the business objectives based on enterprise by looking at the industry through systematic reflection, vision, wisdom and ability.

III. Learn benchmark, no errors in major decisions. Leaders shall make clear the benchmark of the enterprise, know its core staff, technical development route, product positioning, systems and policies, marketing and business model, etc. from the announcement of benchmarking company, its development report, internal meeting decisions, media reports and the interview and communication of its leaders, achieving benchmarking learning, knowing both ourselves and our adversaries and bringing forth the new through the old.

IV. Scientific management, land the methods and measures. Leaders shall understand and know the advanced cultural concept of Far East, keen market observation, sound system design and other advantages, understand systematically, know how and know why and try every means to create the advantage integration into competitiveness; at the same time, they shall correctly carry out and utilize 361 performance evaluation, stock ownership incentives, reward and punishment system, etc. to achieve the purpose of full motivation and strict management.

V. Excellent in both product and performance, sustainable development is the most important. Leaders shall spend more time in discovering talents, training talents and utilizing talents; internally, they shall select those employees who have good train of thought and good achievements and behave well to the positions of leadership, management and technology, phase out those unfit employees; externally, they shall seek excellent managers, technical R&D personnel and marketing personnel related to the industry with a high starting point and high standard, strive to complete preliminary optimization of talent structure with 3-5 years.