Mutually Beneficial Cooperation and Joint Development

    On November 17, leaders of 11 banks including Industrial and Commercial Bank of China (ICBC), Bank of China (BC), China Construction Bank (CCB), Agricultural Bank of China (ABC) and Bank of Communications visited Far East. Jiang Xipei, founder of Far East Holding Group, Chairman of Board of Directors and Secretary of the Party Committee, Jiang Chengzhi, President of Far East Smarter Energy Co., Ltd. (abbreviation: Smarter Energy; stock code: 600869), Chen Jianhong, CFO of the Group, Wan Jun, CFO of Smarter Energy, Shao Liang, Vice Director of Board of Directors of the Group and Secretary of The Chairman, Zhou Ming, CFO of Far East Real Estate and Zhou Yin, Vice Director of Capital Management Department of the Group received the guests.

Jiang Xipei delivered the welcoming speech

    Jiang Xipei delivered the welcoming speech. He thanked those banks for their support and mutual help for Far East since its foundation in 1985 and during its reorganization for five times and transformation development. He pointed out, Far East has always persisted in its main business and established the development strategy of “main business + investment”. For its main business, Smarter Energy has encountered historic development opportunities. In the first three quarters of 2016, Smarter Energy achieved the total assets attributable to shareholders of the listed company of about RMB 5,625 million, an increasing of 35.28% compared with the end of the previous year. In terms of investment, Far East has made mainly investment in such industries as smart energy, massive health, big consumption, food & beverage and advanced manufacturing. At present, Far East Group has a stable annual yield of around 30% in investment. Meanwhile, Far East has attached great importance to system and management innovation. Far East has internally designed a business partnership mechanismand implemented long-term share-holding plan for core employees and 361 performance assessment mechanism. Based on improved strategic layout, high-quality product service and first-class team, the Group will achieve the annual sales revenue of over RMB 135 billion, including RMB 100 billion of Smarter Energy, annual net profit of over RMB 6 billion, annual market value of more than RMB 150 billion, annual bran value of over RMB 50 billion and annual revenue of employee of more than RMB 150,000 by 2020.

Xu Hongchun made a speech at the symposium

    Xu Hongchun, President of Industrial and Commercial Bank of China Yixing Sub-branch delivered a speech. He indicated, ICBC has always kept a good strategic partnership with Far East. ICBC has constantly innovated financial mode, assisted Smarter Energy in acquiring Intelligence Power and SEMEUREKA and deepened strategic cooperation. He addressed, China Banking Regulatory Commission advocated to establish creditors' committee of banking and financial institutions to improve the problem of poor informationcommunication between banks and enterprises and between banks, in order to further enhance economic quality and efficiency of service entities in banking industry, prevent and relieve financial risks. In such context, the symposium aimed at deepening strategic cooperation and achieving win-win development between banks and the enterprise based on mutual trust and benefit.

Shao Liang introduced the strategic planning of the Group

Wan Jun introduced the industrial layout of Smarter Energy

    Later on, Shao Liang and Wan Jun respectively introduced industrial layout and strategic planning of the Group and Smarter Energy to visiting leaders of banks.

Some representatives of banks made speeches

    Leaders of these banks spoke highly of recognized outstanding capabilities of Far East in resisting risks, seizing opportunities and maintaining development and profit under current economic situation. They would like to deepen cooperation with Far East and help Far East achieve its goal by 2020.

Leaders of these banks also visited Science Museum of Smart Energy, having a visual understanding of business layout of Smarter Energy.