In the afternoon of February 24, Yuexiu Group's 2020 Annual Economic Work Conference and Staff Congress were held in the conference room on the 58th floor of Guangzhou International Finance Center. Chen Haodian, Party Committee Secretary and Director of SASAC of Guangzhou Municipal Government, was invited to attend the meeting and made a speech. Zhang Zhaoxing, Secretary of the Party Committee and Chairman of the Group, made a concluding speech, reviewed the Group's main work in 2019, analyzed the current situation of the epidemic, and commented on the key work in 2020 and the next stage. Ye Shanhu, Deputy Secretary of the Party Committee, General Manager of the Group, made a report on the work of the General Manager in 2020 entitled "Strengthen management to promote development; Optimize structure to step forward". Tan Sima, Deputy General Manager of the Group, presided over the meeting.
In 2019, facing the complex and severe situation of significant increase of risk challenges at home and abroad, prominent real economic difficulties and fluctuating market confidence, the Group stood up to the pressure and worked hard, maintained rapid growth of main business indicators, and made good achievements in reform, innovation and development. In the whole year, the operating revenue was RMB 64.8 billion, a year-on-year increase of 29%; the total profit was RMB 15.9 billion, a year-on-year increase of 22%; the profit target of RMB 15 billion in the 13th five-year-plan was reached in advance; the total assets at the end of the period was RMB 666.2 billion, a year-on-year increase of 12%.
Chen Haodian, Director: Face the challenge directly, put in wholeheartedly, and strive to achieve the goals of the whole year
Director Chen Haodian gave full recognition to the achievements of the Group in 2019. He pointed out that in 2019 the Group seized opportunities, promoted reform, promoted transformation, strengthened party building, high-quality development highlights were numerous and major events continued. Breakthroughs were made in the Group's major projects such as mixed reform, Guangzhou Securities' reform, Trust resumption, agricultural development, and other major projects. These reflected 5 major characteristics: upward momentum against the negative trend, good integration of resources, good sense of serving the overall situation, good experience of deepening reform, and good effect in Party building led results.
As we are facing the current outbreak of new coronavirus pneumonia, Director Chen Haodian asked the group to deeply understand the great resilience and potential of China's economy, deeply aware of the fundamentals of the long-term economic improvement have not changed. Based on cost reduction, quality effectiveness, ensuring supply and other key work, we will minimize the adverse effects of the epidemic to contribute to Guangzhou's economic and social development.
For this year's work, Director Chen Haodian pointed out that the Group should firmly grasp the direction of high-quality development and the future development of various sectors, carefully plan, further improve the level of fine management and competitiveness, strive to create new highlights and good practices in reform and innovation, at the same time, pay attention to risk prevention and strengthen the party building. With indomitable confidence and courage, we shall face difficulties, and make every effort in order to win the battle of epidemic prevention and control, the battle of resumption of work and production and the battle of whole year operating objectives. We will achieve the same goal and tasks, to contribute to the reform and development of state-owned enterprises in Guangzhou and to boost new vitality of the old city, to realize the "four making new advances and new brilliants" and make a new and greater contribution.
Zhang Zhaoxing, Chairman: Firm confidence to overcome difficulties, optimize structure to promote development
For the Group's 2019 business performance and reform and development achievements, Chairman Zhang Zhaoxing made a summary with "fruitful achievements, worthy of celebration". Chairman Zhang Zhaoxing pointed out that in the past year, there have been many major events, many good things, and breakthroughs in the Group. First, the growth of main indicators was fast, operating income and total profit growth were higher than that of central enterprises, local state-owned enterprises and municipal state-owned enterprises. Second, the liquidity was stable, not only the amount of financing was huge but also at low costs; Third, the investment was strong, while consolidating the foundation, the development structure has been optimized on the solid foundation; Fourth, the agriculture and food sector was integrated and formed the "4 + X" industrial structure; Fifth, increase of resource integration, completed the Group's mixed reform, finance holding strategic transformation, "rail transportation + property" landing and other major projects, made breakthrough in the restructure of national investment; Sixth, continuously improved internal management and strengthened the support and security system; Seventh, implemented the Party's clean and honest government, and adhere to the overall strict governance of the Party.
Zhang Zhaoxing made an objective and comprehensive analysis of the current development situation. He pointed out that the current novel coronavirus pneumonia epidemic prevention and control work has reached the most critical stage. We must fully understand the outbreak has caused different degrees of impact on production and operation of the Group's various sectors. At the same time, we also see that the current focus of work has shifted to the overall promotion of epidemic prevention and control, and economic and social development, as well as to improve differentiated prevention and control strategy, to establish an economic and social operation order that is suitable for epidemic prevention and control, to promote the resumption of work and production in an orderly manner, so that the flow of people, logistics, capital flow will rotate in an orderly manner, and the economic and social circulation can be unblocked. Staff at all levels of the Group should enhance and firm confidence, leaders at all level shall strengthen their sense of victory, responsibility, benevolence and prudence, and do their best to return to work. We should pay attention to various policies, seize development opportunities, stabilize the stock and expand the increment, so as to lay a solid foundation for the next step of development.
For this year's work, Chairman Zhang Zhaoxing talked about eight opinions on how to optimize the structure. First, to optimize and upgrade the equity structure and enhance the strength of the enterprise. Second, to carefully handle the industrial layout of the group and various sectors around the industrial structure. Third, to have a clear investment direction around the regional structure. Fourth, we should plan the various sectors around the business structure. Fifth, we should manage daily risk prevention around the investment structure. Sixth, we should improve the product strength and competitiveness around the product structure. Seventh, to select and match the leadership team and key talents around the organizational structure, especially the agriculture and food sector should improve the scientific research ability and level in the organization and construction. Eighth, to deal with the relationship between long-term incentive and performance constraint around the compensation structure. Chairman Zhang pointed out that we should comprehensively and systematically consider the impact of various structural adjustments on the development of the Group, do a good job in normal adjustment and regular inspection, so that the adjustment of the structure and the transformation and upgrading of the Group would promote each other, and structure optimization as the golden key to promote the Group's high-quality development.
Ye Shanhu, General Manager: Strengthen management to promote development; Optimize structure to step forward
On behalf of the management team, Ye Shanhu, General Manager, made a report on the work of general manager entitled "Strengthen management to promote development; Optimize structure to step forward". For the work in 2019, Ye has made a summary from six aspects: first, the performance growth on a new level, reflecting the trend of high-quality development in horizontal comparison and weight ratio; second, new breakthroughs have been made in structural adjustment with bright spots in equity structure, industrial structure, business structure and financial structure; third, the industrial development has shown a new pattern, with each sector continuously expanding and optimizing layout, the level of undertakings and related undertakings go hand in hand, showing a good trend of rapid expansion and rolling development; fourth, the basic management reaches a new level, supporting the security system to provide a stable guarantee for the group's development; fifth, the party building and the construction of a clean and honest government have achieved new results; sixth, enterprise development faces new gaps, structure, operation, talents, innovation and other aspects are having short boards in different degrees.
For the impact of outbreak of novel coronavirus pneumonia on production and operation of the Group, Ye Shanhu, General Manager, pointed out that on the one hand, we should fully estimate the difficulties and on the other hand we should strengthen our confidence, so as to see danger as opportunity, to take risks as the means, transform crises into opportunities and withstand pressure to achieve high quality development.
Ye Shanhu, General Manager, has made six arrangements for the Group's work in 2020. First, to maintain a steady growth, give full play to subjective initiatives, seize rare opportunities, mobilize all factors, and achieve a steady growth of all indicators. Second, to expand new businesses, improve the layout around new licenses, new businesses and new platforms. Third, to strengthen strategic support and strengthen personnel, financial, physical and institutional mechanisms. Fourth, to refine management, lay a solid foundation for management, and build a "four beams and eight pillars" for a healthy development of the Group. Fifth, to focus on the implementation of the Party building and the construction of a clean and honest party. Sixth, to fight 10 battles that must be won.
The meeting called for the Group in the face of the severe business situation this year should be more closely united around the Party Central Committee with Comrade Xi Jinping as its core, seize the day and live it to the full, pursue progress, rise up upon hearing the crow of roosters to practise sword playing, go forward day and night with no hinder by rain nor wind to fight for the future. Leaders at all levels should take the lead to play the role of "head of wild migratory goose", so that they can been seen in ordinary time, they shall stand out in critical moment and can stand up in crisis. Leaders shall live up to the high expectations of the municipal Party committee, the municipal government, and strive to achieve the group's reform and development, and give a qualified answer to the municipal Party committee and the municipal government.
At the meeting, the general managers of the real estate sector, Guangzhou Yuexiu Financial Holdings, Chong Hing Bank, transport sector and agriculture and food sector respectively reported on the business situation in 2019 and the 2020 business plan.
The meeting was held in the form of "video conferencing + live broadcast". The group leadership team members, full-time external directors, the chairman of the supervisory board, department heads of various industrial sectors, direct companies and headquarters attended the meeting on site, responsible personnel of each industry sector and middle-level cadres attended the meeting in 23 video sub-venues, staff representatives watch live video via mobiles terminal. The total number of participants was about 500, covering the cities where the Group operates, and Hong Kong and Macao.
