Grand opening of The 2020 Summary and Commendation meeting and the 2021 Work Conference

The mighty spring breeze rises, and t he pace of progress is swift; new year starts with a wonderful beginning! Spring breeze beats the drums of war, and New Year blows the horn. After a long rest and endurance during the Spring Festival holiday, YJZ staffs show their full ambition after starting work.

Part 1 Seminar on "Objectives, Tasks and Work Priorities in 2021"

On February 22nd, each subsidiary company and management line of the Group organized a seminar on "Goals, Tasks and Work Priorities in 2021". At the seminar, management cadres at all levels seriously studied and implemented the Group's "Objectives, Tasks and Work Priorities in 2021" and other documents, summarized all the work in 2020, found out and improved deficiencies, and discussed and defined the specific work objectives and measures of their departments around the Group's work objectives and tasks in the new year.

On February 23rd, the 2020 Summary and Commendation meeting and the 2021 Work Conference were held, which inspired the cow spirit of all YZJ staffs to join hands in the journey of "innovation".

Part 2  Statement made by Management Cadres for 2021

Group leaders Mr. Ren Yuanlin, Mr. Ren Letian, Mr. Wang Jiansheng, Mr. Zhang Hongfei, Mr. Song Shuming, Mr.Du Chengzhong, Mr.Zhang Tao, Mr.Liu Feng, Mr.Ding Jianwen, Mr. Zhou Kewei and Mr.He Minghui attended the meeting.

Mr.Ding Jianwen, Deputy General Manager of the Group and General Manager of the Group finance company, began with an Group economic operation analysis report in 2020, which made a detailed and objective analysis of the main shipbuilding business, non-ship business and comprehensive operation of the group in 2020. Economic datas show that the whole group's economy is running steadily, its total volume keeps growing and its cash flow is sufficient. The three major shipbuilding indicators of new orders, hand-held orders and shipbuilding completion output continue to maintain the forefront of national and global shipbuilding enterprises; Shipbuilding production efficiency, cycle index, quota consumption and single ship cost control are basically within the planned index range; The Group's economic benefits continue to rank in the forefront of the same industry in China, and all the economic responsibility departments of the Group have well achieved the annual economic benefit indicators. While affirming the work in 2020, the report also pointed out the existing problems and shortcomings, and made scientific suggestions on how to do a good job in 2021, emphasizing that under the premise of maintaining production balance, it is recommended to undertake high value-added ship types as much as possible and attach great importance to the two key factors that affect the economic benefits of the Group i.e. exchange rate and steel price.

Leaders from various departments of the Group reported their works in 2020, and discussed the work plan and specific deployment of the work in 2021 in combination with their own work task and existing shortcomings.

Part 3  Award & Summarization Session for 2020

At 13: 00 pm, the Group's Award & Summarization Session for 2020 was held in Jingjiang Riverside Garden Hotel, attended by workshop team leaders, principal staff member (technicians), professional sequence personnel at or above the supervisor level, management cadres at or above the deputy district chief and heads of various labor engineering teams.

At the meeting, Mr. Wang Jiansheng, vice chairman of the Group, read the commendation decision for 2020, and commended 9 outstanding contributors, 40 advanced individuals with rationalization proposals, 7 advanced collectives with "four cleanness", 6 winning teams in PK projects and 11 excellent internal trainers in 2020.

They are advanced models. Through this commendation, the company hopes to inspire the cadres and employees to be explorers, pioneers and creators of innovation and development. Mr. Hou Jiawei from NYZ Pipe Outfitting Workshop, Mr. Cai Zhiming from Yangzi Xinfu Pipe Outifitting Workshop, Mr. Liu Zhili from Yangzi Xinfu Dock Workshop, and Mr.Sun Xuelong from NYZ Quality Management Department made speeches on behalf of each advanced technologies.

Part 4 Summary of Group Work in 2020

At the meeting, Mr. Ren Letian, chairman and General Manager of the Group, made a summary of the Group work in 2020.Mr. Ren summed up the highlights of the group's work in the past year from the following four aspects: "striving for high-quality orders in innovation mode, organizing lean production in precise prevention and control, improving R & D capability in unity and cooperation, and stimulating management momentum under the guidance of scientific and technological innovation".He said that in mid of 2020

[Marketing people] sharp-eyed and quick-moving，actively looked for orders, the number of new orders received in the whole year accounted for 9.5% of the total number of new orders received in China, and the carrying tonnage of hand-held orders accounted for 7.7% of the total orders;

[shipbuilders] the shipbuilder shall make full efforts to make lean production, gradually shorten the dock period and dock period, and complete the target tasks ahead of schedule;

[technical personnel] we have compared and learned to catch up with and overcome difficulties, and actively researched and developed high-end ship types such as oil-chemical ship, liquefied gas ship and dual fuel ship;

[economic management personnel] innovation and opening up, promoting development with science and technology, have made great progress in reducing cost and consumption, management innovation, team PK, and technological progress.

Part 5 "adhere to four innovations and achieve ten goals"

At the end of the meeting, Mr. Ren Yuanlin, Honorary Chairman of the Group, made a concluding speech. First of all, he affirmed that the young management team headed by Chairman Mr. Ren Letian is a fighting team full of vigor and vitality in high spirits and work hard. In 2020, such an extremely extraordinary year, the group has achieved good results. He pointed out that the group will continue to develop towards the direction of "one main business, four supports and two strengthening", and will position 2021 as the "innovation" year. The whole year's work will focus on four innovations, namely, innovative technology research and development to form product features; innovate marketing mode to achieve order objectives; innovate production organization and improve lean management; innovate legal risk control to reduce bad debts. Through the efforts of all cadres and the staffs, we will achieve the following ten goals:

1、On the basis of the target of US $2 billion, new orders will strive to exceed 50% to reach US $3 billion.

2、New achievements should be made in scientific and technological innovation.

3、Complete the milestone of the whole year's steel-cutting, keel-laying, launching and delivery in good quality and as scheduled, and continue to maintain YZJ's reputation as a shipbuilder who never missed a deadline.

4、Continue to achieve the annual profit and tax target of more than 5 billion RMB.

5、Yangtze Changbo base started the transformation of shipbuilding and construction of large steel structure base.

6、Expand secondhand ship and semi-finished ship business effectively

7、Breakthrough in construction of Jiangyin Linggang LNG industrial park project

8、Resolve the bad and lawsuit damage to achieve the annual goal.

9、Expand investment and financial management channels and make the disposal of stock assets new highlights.

10、Fulfill social responsibility and actively participate in local economic construction.