On the afternoon of April 15th, Huali Holding held the 2019 annual management target promotion meeting in the conference room on the 10th floor of Huali Building. Deputy general managers and above from the holding company and various sector companies attended the meeting.

The meeting heard the business reports presented by Zhou Feng, Vice Chairman of the Real Estate Company, and Nie Feilun, General Manager, as well as the business reports presented by Wang Liang, General Manager of the Construction Company, and the business reports presented by Gao Ximing, Zhao Xuejun, Zhang Guoqing, and Zhang Xu, General Managers of the companies under the sector. Additionally, the meeting reviewed the annual work management reports presented by the Holding Company's Finance Department, Investment and Financing Department, Human Resources Department, and Audit Department, as well as the management report presented by Ma Nu, General Manager of the Holding Company. Chairman Chang Qiancang delivered a concluding speech.

Chairman Chang Qiancang pointed out that 2019 is a crucial and challenging year for Huali's transformation and upgrading. At the annual meeting, we proposed a "123" development strategy, which outlines the overall management approach for 2019: "optimize mechanisms, attract talents, adjust structure, strengthen management, and increase efficiency". Multi-level management target responsibility agreements have been signed, and the supporting institutional systems and incentive mechanisms will be introduced successively. The first quarter has passed, and now it's time to "look back". The purpose of the meeting is to facilitate Huali's transformation and upgrading, strengthen internal reforms and expand external operations, enhance organizational management, and reach a consensus to achieve the annual business objectives.

Chairman Chang Qiancang pointed out that since the establishment of the new target evaluation system this year, a career scenario has been initially formed, which centers on financial management, focuses on investment and financing, is supported by human resources, guided by audit results, and led by corporate culture. We believe that after several years of "second-round entrepreneurship", a new Huali will be established.

Chairman Chang Qiancang emphasized that business operation is paramount, as without it, survival becomes impossible. Projects must be successfully acquired and effectively managed. In the real estate sector, what is most crucial? Land acquisition, fundraising, planning, and establishing a follow-up investment system are of utmost importance. It is imperative to actively explore cooperation models, adopt a cost-oriented and customer-centric approach, establish a performance evaluation system for individual projects, and link the entire process from land acquisition, design, construction, management, to sales with profit. The construction sector should establish a profit chain for each project, encompassing the entire process from project initiator to bidding and construction, to achieve shared responsibility and achievement. Excellence and awards should be heavily rewarded to establish a good image for Huali and enhance the reputation and competitiveness of the Huali brand.

Chairman Chang Qiancang emphasized that human resource management and cultural leadership are the cornerstones of a century-old enterprise. Huali's employees from its four major sectors—construction, real estate, overseas, and design—come from a wide range of backgrounds, making it a multicultural entity. It is necessary to promote a mainstream culture that adheres to the core values of socialism, abandoning "subcultures" driven by selfish thoughts and petty interests. Leaders should have ideas, unified ideas, ideas that link the top and the bottom, and ideas that drive the cause forward; the team should have combat effectiveness, and the management should have execution ability. Managers should respect knowledge and talent, do a good job in identifying, selecting, employing, and retaining people, interact and communicate extensively with employees, and establish long-term cooperative relationships. It is necessary to select a group of managers who are capable of learning, hardworking, and responsible, so that they want to work, can work, and succeed in their work, realizing the transformation from "manpower" to "talent" to "benevolent people". Establish a performance-oriented evaluation system to select and employ people through comparison. The group's party committee and human resources department should organize managers to go to Jinggangshan and Yan'an for revolutionary traditional education, strengthen ideals and beliefs, and establish correct values, outlook on life, and worldview in the process of change.

Wang Kun, Mei Shengtao, and Chang Weiping, Vice Chairmen of Huali Holding, Zhu Zhengying, Chairman of the Supervisory Board, Liang Zhentian, Secretary of the Board, Ma Nu, General Manager, Xiong Yanbin, Chief Financial Officer, and Lv Tao, Chief Administrative and Human Resources Officer, attended the meeting and made speeches.