The group held a debt clearing meeting to ensure the completion of annual business indicators

On November 12, the group organized and held a special meeting on debt settlement in 2018, which made key arrangements and deployment on how to complete the recovery of project funds in 2018 and ensure the return of funds. The meeting required that all units of the group should further unify their thinking, raise awareness, take practical measures, strengthen the recovery of project funds, and ensure the completion of the business indicators in 2018. Hu Xiang, vice chairman of the group, Zhang Quan, general manager, Guo Fumin, director, Qi Chen, chief financial officer, Cui Xiaoli, deputy general manager and chief economist, Yang Xu, deputy director of the audit committee of the board of directors and the project manager attended.

The meeting first reported the completion of project fund recovery, internal borrowing of the project and the credit rating of the project manager as of November 5, and explained the risk mortgage system and payment. Qi Chen, the group's director and chief financial officer, Zhang Quan, the general manager, and Hu Xiang, the group's vice chairman, successively analyzed the severe situation and difficulties faced by the group in debt clearing, and put forward requirements and hopes for the next step.

The meeting pointed out that the first is to strengthen the sense of responsibility, enhance the sense of urgency and ensure the realization of the set goals. In view of the impact of the severe situation of upstream real estate enterprises on downstream construction enterprises this year, all units should attach great importance to it, focus on investigating whether the construction site is well organized and grasp the production rhythm. At the same time, sort out the completion of various production indicators item by item, make fund planning before the festival in advance, and allocate funds in strict accordance with the time nodes to ensure the stable capital turnover of the group before the Spring Festival. Second, clarify the principle of "fixed expenditure based on revenue" to ensure the effective utilization of the group's funds. All units shall strictly implement the principle of "fixed expenditure based on collection", and the fund payment shall be carried out in strict accordance with the plan, and shall not exceed the plan or the contract. The credit rating system shall be implemented for the units that have no funds to pay and need to borrow from the company. The borrowing units shall repay the loans on schedule, reduce the capital loss precipitated by the group and ensure the effective turnover and utilization of funds. Third, establish the sense of good faith and fulfill the spirit of contract. Each unit shall pay the risk mortgage within the agreed period according to the amount agreed upon when signing the contract with the group. Payment on schedule is a manifestation of the good faith performance of all units. All units should strictly fulfill the commitments made in the contract and jointly maintain the healthy and stable development of the enterprise.

The meeting stressed that all units should strictly implement the spirit of the meeting, overcome difficulties, steadily promote the debt settlement work with full work enthusiasm and good mental state, and successfully complete the annual business indicators.

(Finance Department)