From January 13 to 15, the Group held an annual performance review and reporting session for its headquarters and overseas subsidiaries, during which management personnel from all headquarters departments and overseas branches presented comprehensive reports on their 2024 work. The meeting was personally chaired by Chairman Zhang Xiangyang, with the aim of thoroughly summarizing the 2024 achievements of staff across all headquarters departments and overseas subsidiaries, conducting an in-depth analysis of existing challenges, defining clear directions for future work, and further enhancing the overall operational efficiency of the headquarters.

The performance appraisal process was carried out in an orderly manner on a department-by-department basis. First, the heads of each department delivered comprehensive and systematic work reports, providing a detailed account of their departments’ achievements over the past year. Subsequently, each member of every department presented a personal summary of their own work, reflecting on their performance and sharing their experiences and insights. The headquarters appraisal team, together with the department’s supervising leaders, provided professional feedback based on the reports and assigned objective and impartial scores. Finally, Chairman Zhang Xiangyang delivered a concluding address.

Prior to the reporting and performance review meeting, management personnel from all headquarters departments and overseas subsidiaries meticulously prepared written work summaries in strict accordance with the requirements. These summaries focused on four key areas: first, a comprehensive review of the major tasks completed and the results achieved in each individual’s role during 2024; second, a detailed description of the specific approaches and effective measures adopted to ensure the company’s fulfillment of its annual objectives and tasks; third, a thorough reflection on the principal issues encountered in one’s own work, along with a clear identification of the areas for future improvement; and fourth, the presentation of in-depth reflections and constructive recommendations for enhancing departmental business management and corporate operational management.

After listening to work reports from managers across all headquarters departments, Chairman Zhang Xiangyang provided precise feedback on each presentation and set forth specific, clear requirements for improving performance. In his concluding remarks, he fully commended the remarkable achievements attained by headquarters department managers in 2024. He noted that over the past year, all headquarters departments have rigorously implemented the Group’s strategic decisions and arrangements, kept steadfastly focused on the overarching goal of maintaining stable corporate economic development, proactively expanded market operations, made every effort to prevent and defuse major risks, deepened refined management of project costs, and continuously enhanced routine foundational management, thereby further standardizing and institutionalizing such practices. As a result, the headquarters has effectively fulfilled its pivotal role as the Group’s “command center,” ensuring the efficient implementation of all major decisions and directives issued by the Board of Directors and the General Manager’s Office, and making significant contributions to the company’s sustained, steady, and healthy development.

Chairman Zhang Xiangyang emphasized that this year’s reform and innovation in the annual performance appraisal of headquarters personnel has been a resounding success. The reporting and appraisal meeting effectively achieved its intended objectives of presenting work progress, facilitating exchange of ideas, identifying problems, and clarifying directions. This will further inspire headquarters managers to demonstrate enthusiasm for getting things done and driving innovation, promote continuous improvement in work, and strengthen their sense of mission and responsibility. With regard to the next phase of work across all headquarters departments, Chairman Zhang put forward four clear requirements: First, in the face of the current complex and challenging situation—namely, weak economic recovery both domestically and internationally and a sustained downturn in the construction industry that has exceeded expectations—staff and cadres in all headquarters departments must uphold the work philosophy of “putting action first,” bolster their confidence, rise to challenges, and strive to deliver results with excellence. They must be adept at planning and executing, truly translating their desire to act into concrete achievements, thereby using the certainty of their own work to effectively counter the uncertainty of the external environment and ensure the enterprise’s sustained, steady, and healthy development. Second, all departments must enhance collaboration, pool their strengths, make all-out efforts to resolve existing risks of all types, and firmly curb the emergence of new risks, thus creating a stable environment for corporate development. Third, all departments must continuously intensify their efforts to comprehensively and thoroughly advance refined project cost management, ensure high-quality work, and strive to build new competitive advantages based on low costs. Fourth, we must comprehensively strengthen capacity building at headquarters; all staff and cadres at headquarters must deepen their learning of professional knowledge, innovate their approaches and methods, continuously improve the quality and efficiency of their work, and strive to enhance the capabilities and standards of headquarters in management, guidance, supervision, and service.

After listening to work reports from the management of the Group’s overseas subsidiaries, Chairman Zhang Xiangyang emphasized that, in the face of the ongoing downturn and intense competition in the domestic construction market, the Group will more steadfastly implement its “going global” strategy—a core strategic initiative that is vital to the company’s long-term future development. Management at all levels of the overseas subsidiaries must deeply understand and adopt a high-level strategic perspective: on the one hand, they should conduct thorough and meticulous research into the characteristics and trends of overseas engineering markets to accurately identify market needs; on the other hand, they must strengthen their knowledge of FIDIC conditions and make every effort to enhance their capabilities in international engineering business management and EPC project management. Moreover, proven, best-practice management approaches developed domestically should be seamlessly integrated into overseas projects, with a focus on refined, end-to-end project control to achieve complementary strengths. At the same time, it is essential to further improve operational, technical, material, and logistical support for all overseas branches, project offices, and project teams, so as to promote the high-quality development of the Group’s overseas operations and continuously enhance the Group’s competitiveness and influence in the international market.

(General Manager’s Office, Guo Qiyun)