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Outside Directors Investigated Sinochem Group’s Subsidiaries in Shandong Province

Date:2018-05-25 Source:Sinochem Group

On May 9-11, Outside Directors of Sinochem Group Mr. Ma Chuanjing, Ms. Li Jinfeng, and Mr. Wei Weifeng went to Shandong Province to investigate some Sinochem Group’s subsidiaries where they had the opportunity to communicate with front-line employees to learn more about the actual operations of the company's main business segments such as chemicals, agriculture and real estate. Through the investigation, outside directors personally experienced the great enthusiasm of the management team of Sinochem Group's front-line initiative in planning the reform and transformation, and collected a great deal of internal and external first-hand information, which could be used as strong support and reference for subsequent board decision-makings. Mr. Zhang Baohong, Secretary of the Board of Sinochem Group, participated in the investigation.

In Sinochem Qingdao Co., Ltd. (Sinochem Qingdao), a subsidiary of Sinochem Group, outside directors listened to reports on the company's industrial project operations and future development plans, and communicated with employees of various departments of the company in depth. The good performance was highly affirmative. The outside directors expressed optimism for the development of Sinochem Qingdao in the health industry, and hoped that the company would continue to strengthen synergies with the agricultural and real estate division, continue to build competitive advantages in key products represented by chondroitin and stevioside, continue to enhance product innovation, shaping brand advantages, and strive to become the "unicorn of China's nutritional and health industry" at an early date driven by science and technology.

At the Sino-Europe International City, a representative project of city operation by Sinochem Qingdao under the Hong Kong-listed China Jinmao Holdings Group Ltd. (owned by Sinochem Group), the outside directors heard detailed reports from the company’s management team on product marketing, project development, industrial development and brand building, and learned about how the integration of internal and external resources had promoted cooperation with innovative projects such as the Sinochem Nutrition and Health Industrial Park, Sinochem Innovation & Technology Industrial Park and Shanghai Pudong Software Park. The outside directors highly recognized the achievements by Sinochem Qingdao in building city operators and building smart cities, and expressed confidence in the company’s early realization of the 10 billion sales target in the region. The outside directors proposed that while doing a good job in project acquisition and support facilities building, Sinochem Qingdao should further strengthen risk control and technological innovation, continuously improve customer satisfaction, and take a more rigorous attitude in the building of industrial parks and cultural and tourism projects so that it would eventually create a world-class benchmarking product with global influence.

On May 10-11, the outside directors investigated the Modern Agriculture Platform (MAP) Smart Agricultural Demonstration Park Project of Sinochem Sinofert Co., Ltd. (Sinofert), Sinochem Shandong Fertilizer Co., Ltd. (Sinochem Shandong Fertilizer) and Sinochem Agricultural Linyi R&D Center and other units.

At the MAP Smart Agricultural Demonstration Park, outside directors visited the central control system, field and agricultural facility data system, facility greenhouse incubation workshops, and production facility IoT automation management system; they also witnessed the operation of Sinochem Group's intelligent water and fertilizer integration system (automatic fertilizer allocation) and listened to the overall introduction of the park's smart agricultural system. The outside directors expressed high recognition for the idea of how the park works: “indoor classroom, and outdoor field; show and tell them how and work with them.” They hoped that the company could further implement the national rural rejuvenation strategy and make good use of agricultural big data platform, actively explore innovative practices in the application and promotion of modern agricultural technology, and be a pioneer and vigorous force in the revitalization of China's agriculture.

At Sinochem Shandong Fertilizer and Sinochem Agricultural Linyi R&D Center, outside directors inspected front-line business units such as production workshops and laboratories to learn more about plant operation and product production, and had face-to-face exchanges with front-line workers and researchers. The outside directors expressed high expectations for the prospects of relevant companies and pointed out that in the face of overcapacity and fierce competition in the compound fertilizer industry, fertilizer production enterprises should take the initiative to align with the industry’s advanced industries and make efforts to catch up and overtake them in terms of production, scientific research and product innovation.