China Huarong Held the 2022 Annual Work Conference and Discipline Inspection Work Conferrence

On January 25, 2022, China Huarong held the 2022 annual work conference and discipline inspection work conference in Beijing. Wang Zhanfeng, secretary of the company's party committee and chairman of the board of directors, made a theme report on "Insist on Stability, Seek Progress, Focus on Transformation, and Open a New Chapter of Xinhua Rong Construction at a New Starting Point", Liang Qiang, Deputy Secretary of the Party Committee and President, made a report on business work, and Pang Xuefeng, a member of the Party Committee and Secretary of the Disciplinary Committee, made a disciplinary inspection. In the work report, Hu Jianzhong, deputy secretary of the party committee and chairman of the board of supervisors, presided over the meeting. The China Banking and Insurance Regulatory Commission, the Ministry of Finance and other relevant departments, as well as representatives of shareholders such as CITIC Group and China Insurance Investment, attended the meeting for guidance. Company leaders, directors, and supervisors attended the meeting, and all cadres and employees of the headquarters, branches and subsidiaries attended the meeting on-site or via video.

The meeting pointed out that 2021 is a significant year in the history of China Huarong. Facing a series of major tests, the company earnestly studied and implemented the spirit of General Secretary Xi Jinping's important instructions. With the strong support and guidance of the National Commission, the National Audit Office, the State Administration of Foreign Exchange, and the Disciplinary Inspection and Supervision Team stationed at the conference, we will resolutely implement the decisions and arrangements of the superiors, take the initiative to overcome difficulties, and successfully complete the "transformation year, tackling year" work task, The operation and management remained stable, the capital increase was successfully completed, and the construction of high-quality development Xinhua Rong achieved historic results. Adhere to the leadership of the party's political construction, fully cooperate with the central inspection, solidly carry out party history learning and education, increase supervision and discipline, complete the designated assistance tasks with high quality, and continue to strengthen the party's leadership and party building. It successfully implemented reform and restructuring, prudently responded to multiple challenges such as delayed disclosure of annual reports, stabilizing liquidity, and controlling public opinion, successfully completed the introduction of capital increase and the resumption of stock trading, actively and prudently promoted weight loss and fitness, and successfully resolved major risk tests. We made every effort to promote the disposal of existing risks, improved the risk resolution mechanism, and achieved positive results in the resolution of major risk projects, and the risk exposure continued to decrease. Continue to strengthen corporate governance and internal management, optimize operation management, refine business management, strengthen risk management and internal control compliance construction, and continuously consolidate the foundation for development. Continue to strengthen team building, optimize institutional settings and human resource allocation, improve incentive and restraint mechanisms, strengthen cadre supervision and management and staff training and care, and effectively improve overall efficiency. 　

In 2021, China Huarong will consciously serve the overall development of the country and strive to improve the development quality of its main business. Focus on regional development strategies and optimize asset layout. Actively serve the national "dual carbon" strategy, and implement innovative projects such as GCL Group. Steady progress in main business operations, effective control and reduction of the Group’s assets and liabilities, and continuous repair of “three tables”; the scale of acquired asset packages maintained a leading position in the industry, and the cash-back income from disposals reached the best level in the past years. Breakthroughs were achieved; the balance of the restructuring of problematic enterprises continued to grow, and a number of projects with transformational demonstration effects such as bankruptcy reorganization, acquisition of defaulted bonds, judicial auction, and divestiture of state-owned enterprises were successfully implemented, and the industry and customer structure were further optimized; the newly implemented market-oriented debt Share conversion projects were invested in new energy, high-end equipment manufacturing, computers, communications and other fields, and the income from the disposal of unlisted inefficient assets increased significantly. Actively expand marketing and cooperation channels, launch the Rongyi Tao asset disposal applet, carry out online asset promotion and auction, cultivate upstream and downstream customer groups, and create a "big bad" customer ecosystem and circle of friends.

The meeting pointed out that over the past three years, China Huarong has taken a step-by-step approach to the four-step game of "stabilization, risk mitigation, slimming, and transformation", and achieved a series of qualitative changes while maintaining stability. The company's operations have embarked on a normal development track, and management capabilities, business capabilities and team quality have been further improved. The leadership of the party and the building of the party have changed from false to solid, and the political ecology has been significantly restored; the risk base has changed from turbid to clear, and the endogenous risks have been greatly reduced; the institutional layout has changed from complex to simple, and the effect of slimming and fitness has been remarkable; the main responsibility and main business have changed from partial The business transformation has been steadily promoted; the internal management has changed from loose to strict, and the cadre team has been continuously optimized. The above changes are due to the correct strategic direction and the unremitting efforts accumulated over time, and the company has always adhered to the leadership of the party, adhered to the correct positioning, adhered to compliance and stable operation, adhered to deepening reforms, and adhered to people-oriented.

The meeting pointed out that 2022 is the first year for China Huarong to open a new chapter in the construction of New Huarong. The company faces a new internal and external situation, stands on a new starting point, faces new expectations, faces new opportunities, and faces new challenges. Under the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we must thoroughly implement the work arrangements of the Party Central Committee, the State Council and the Party Committee of the China Banking and Insurance Regulatory Commission, adhere to the general tone of seeking progress while maintaining stability, take the lead in maintaining stability, improve quality while maintaining stability, and continue to focus on " The overall goal of “transforming the main business and tackling risks”, focusing on the main business, returning to the origin, and opening a new chapter in the construction of Xinhua Rong with “ five efforts” . First, we must focus on strengthening party leadership and party building, arm our minds and guide practice with Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, do a good job in the rectification of problems reported by central inspections, firmly defend the "two establishments", continuously enhance the effectiveness of supervision and governance, and consolidate The overwhelming trend of upholding discipline and anti-corruption, unremittingly strengthening the construction of work style, and effectively transforming the party's political and organizational advantages into the company's development advantages. Second, we must focus on exploring business opportunities in existing assets, focus on key customers and major projects, improve relevant working mechanisms, and strictly prevent new risks. Third, we must focus on cultivating the "big non-performing" areas, optimize product structure, optimize asset layout, actively expand business in a market-oriented manner, and further improve the quality of development of the main business. Fourth, we must focus on strengthening internal management, optimizing supporting policies for operation, strengthening classified management of branches, accelerating the promotion of weight loss and fitness, ensuring liquidity safety, strengthening compliance construction and information system construction, and continuously improving the level of scientific and refined management. Fifth, we must focus on building a loyal, clean and responsible high-quality professional team, continue to optimize the team structure, coordinate the construction of the talent team, improve the salary incentive and restraint mechanism, and fully stimulate the entrepreneurial enthusiasm of the officers.

The meeting demanded benefits from tackling risks, benefits from stock revitalization, benefits from transformation and development, benefits from risk management and control, benefits from collaborative operations, benefits from resource integration, benefits from institutional control of losses, and benefits from liability management and control. To improve efficiency, improve management quality and efficiency, and comprehensively improve the quality and efficiency of operation.

The meeting emphasized that the new historical picture of Xinhuarong's construction is slowly unfolding. Standing at a new starting point, the whole system of the company must make concerted efforts to advance bravely towards the goal of high-quality development of Xinhua Rong, create new achievements worthy of the party, the people, and the times, and welcome the 20 major victories of the party with excellent results. convened.