Heaven and earth press to change from day to day. From winter solstice spring will come without delay. When the last ray of the sun sets in 2024, we are full of joy and expectation, standing together at a new starting point of time. At this wonderful moment of ringing out the Old Year and ringing in the New Year, let us, with the most sincere emotions, extend our deepest gratitude and warmest wishes to our family members and friends who have accompanied us along the way, and all the partners who have given us support and help!
The year 2024 is the 75th anniversary of the founding of the People's Republic of China. It is the crucial year for intensively implementing the "14th Five-Year Plan", and also a key year for China MCC to promote its ongoing transformation and upgrading. Facing the severe internal and external situations and challenges with the cyclical pressure on the industry, China MCC has transformed the spirit of President Xi Jinping's important speeches, instructions and directives into a powerful driving force for forging ahead, and has been committed to serving the national strategies, the strategic vision of China MCC, its high-quality development and the goal of "One Goal, Two Best, Five Strengths". We have taken strong responsibilities in fulfilling political tasks such as learning and education on Party discipline, making rectifications in response to the inspections by the Central Committee, and rectifying issues found in audits; bravely shouldered heavy burdens in implementing business tasks like "Stabilizing Growth, Strengthening Industries, Focusing on Innovation, Promoting Reforms, Reducing Costs, Preventing Risks, and Ensuring Safety"; cultivated and developed new productive forces in line with our specific circumstances, and delivered excellent results in reform and development through solid work and actual achievements.
Set our sights on the "New Goal", following the Party building China MCC has strengthened leadership. China MCC has cultivated the root and soul and gathered cohesive force, deeply studied, carefully emulated and earnestly implemented the spirit of President Xi Jinping's important speeches, instructions and directives, continuously consolidated the achievements of theme education and discipline study and education, and armed our minds, guided our practice, and promoted our work with the Party's innovative theory. We have focused on making rectifications and took a pragmatic approach, and with the firm determination and great courage, coordinated and promoted various rectifications such as inspection the CPC Central Committee for rectification, disciplinary inspections, audits and special rectifications, and test the results of rectification with actual results. We have kept our original intention and consolidated the foundation, continuously tightened and fulfilled the political responsibility for managing and governing the Party strictly, and constantly strengthened the sense of responsibility among Party members and cadres. With strict discipline and excellent work style, we have created a clean and upright good ecology to promote ongoing transformation and upgrading. We have built strongholds and acted as pioneers. At the establishment of "Party Member Commando", "Youth Commando" and "Party Member Vanguard Post", China MCC has given full play to the role of Party branch's fighting strongholds and the vanguard and exemplary role of communists , and launched a comprehensive charge towards the goal of "Go all out for 60 days and sprint towards a prosperous year-end".
Consolidate the "New Cornerstone", strengthening the development support through basic management. China MCC has strengthened the foundation and improved quality and efficiency, thoroughly implemented the three-year action for basic management improvement, focused on the construction of nine systems, and solidly strengthened the construction of system, institution and personnel. The concepts of "Large Market", "Contract Performance" and "Comprehensive Business" have been interiorized, and progress has been made on empowering management for "Standardization", "Precision" and "Digitization". We have focused on internal control and risk reduction, and continuously carried out the "Five Special Actions", and by improving marketing quality, rectifying issues found in audits, preventing and defusing risks in PPP projects, streamlining and strengthening organizational structures, and preventing the increase of new cases by managing and controlling the current inventories, improved internal control, effectively reduced the corporate operating costs and risks, and continuously increased the contract conversion rate and the profitability of projects. We have optimized the layout and cultivated new strengths, made efforts to foster and expand third-level enterprises, vigorously promoted the development pattern of "2358" subsidiaries, consolidated the functional positioning of "Five Major Platforms", expanded the corporate scale, improved operating efficiency, and supported the future of high-quality development of China MCC by expanding third-level enterprises.
Explore a "New Path", creating differentiated competitive advantages through the "Five Linkages". China MCC has strengthened linkages and close cooperation, focusing on enhancing the linkages among the headquarters, subsidiaries, various business sectors, as well as internal and external resources, and promoted China MCC to stand out in the fierce market competition. In the mode of linkage, we have successively won the bidding for typical projects such as Chongqing Advanced Electromechanical Equipment and Logistics Industrial Park, Zhengzhou Airport Economy Zone Sci-Tech Innovation City, Shenzhen Tongsheng Utility Tunnel EPC Project, Shenyang Baitapu River EPC Project, and Guangzhou Lingtou Urban Village Renovation Project. Gradually, the competitive advantages of integration and differentiation have emerged. We have strived for orders and seized the market, resolutely implemented the "Three Nos", attached importance to "Three Fields" and "Three Products", made overall plans for national strategic regions such as the Guangdong-Hong Kong-Macao Greater Bay Area, the Yangtze River Delta Economic Circle and the Xiong'an New Area, as well as economically developed regions, vigorously competed in the public bidding market, made powerful forays into the overseas market, and had a large number of domestic and abroad demonstration and leading projects. China MCC has cultivated our brands and won a good reputation, always adhered to the principle of "Quality Performance and Lean Construction", firmly established the concept of "On-site Circular Market", and has been committed to demonstrating outstanding quality and exquisite craftsmanship in every project. In total, we have won 32 Tien-yow Jeme Awards, 149 Luban Prizes and 318 National Prime-quality Project Awards.
Activate a "New Driving Force", injecting development vitality into deepening reforms. China MCC has promoted reforms and pursued development, took the comprehensive deepening of the reform of state-owned enterprises as the driving force, given full play to the exemplary and leading role of the enterprise, continuously consolidated the reform achievements, and efficiently advanced 98 reform deepening and upgrading measures. 9 "Sci-Tech Reform Enterprises" and "Double-hundred Enterprises" have new and remarkable results in the special assessments by the State-owned Assets Supervision and Administration Commission of the State Council. In total, we have 6 national-level manufacturing "Single Champions" and 10 specialized and sophisticated "Little Giants", and new drivers of growth are constantly accumulating. We have been good at management and focused on strengthening the foundation. By taking the digital control and management as the starting point, the Group had been accelerating the construction of treasury system and digital control and management platform, and have made phased achievements in "Digital Industrialization", "Industrial Digitization" and "Business Platformization". We will further consolidate the foundation of basic management and build a digital support for corporate operation and management. China MCC has deeply cultivated and shaped our image, continuously strengthened the core functions of the enterprise and enhanced its core competitiveness through continuous quality innovation and service upgrading. Our company has ranked among ENR Top 10 International Contractors for sixteen consecutive years, rated an A-level Evaluation for Information Disclosure Work from the Shanghai Stock Exchange for eight consecutive years, won the 2024 Best Practice Case for the Board of Directors of Listed Companies and the title of "Outstanding Enterprise in Quality Management". Seven enterprises have obtained the AAA credit rating, the highest level in the industry, and our comprehensive strength has been steadily improved.
Ignite the "New Engine", leading industrial innovation with scientific and technological innovation. China MCC has strengthened innovation and injected new vitality, effectively given play to the roles of central enterprises in scientific and technological innovation, industrial control and security support in building a modern industrial system and forging a new development pattern, increased investment in the research, development and tackling of basic, urgent, cutting-edge and disruptive technological projects. We have reserved major scientific and technological achievements in all aspects and promoted their application from multiple perspectives. Three scientific and technological achievements have won the National Science & Technology Award. We have strengthened our existing strengths and enhanced our advantages, consolidated and improved our industrial advantages around the business system of "One Core, Two Subjects, Five Characteristics", continuously built the core technological competitiveness of "One Core, Two Wings", formed integrated industrial chain solutions for the "Production - Storage - Utilization" of hydrogen energy, made breakthroughs in a number of advanced low-carbon smelting process technologies such as hydrogen-rich sintering, hydrogen-rich blast furnaces and direct hydrogen reduction smelting. The Group also successfully promoted and applied scientific and technological achievements such as the integrated intelligent system in the pre-ironmaking area. China MCC has been forging new strengths and striving to be the first, boldly explored and practiced new ideas, new measures and new approaches to empower smart construction sites with intelligence, digitization and greening, and built a data-based intelligent construction industry system covering digital design, intelligent manufacturing, intelligent construction and smart operation and maintenance. And, we have been pursuing differentiated competition, aiming to possess what others don't and excel in what others have.
Build a "New Defense Line", safeguarding the bottom line of development by strengthening safety and stability maintenance. China MCC has been focusing on risk prevention and compliance, strengthened "Two Optimizations and One Control" and "Three Grasps and One Prevention", and made concentrated efforts on deleveraging and controlling "Two Funds", focused on defusing risks in existing PPP projects, strengthened domestic and abroad compliance management, promoted the clearance of accounts in "Two Arrears", and resolutely safeguarded the bottom line of preventing systemic risks. We have cut costs and increased benefits, thoroughly implemented the concept of operating enterprise frugally, strictly controlled non-operating expenditures, with the pilot leading of large-scale centralized procurement in guaranteed purchase volumes, ensuring the efficient implementation of low-cost financing. China MCC has been ensuring safety and safeguarding the bottom line, resolutely implemented the requirements of "Three Responsibilities and Three Musts", closely focused on major safety risks, controlled key points, implemented safety responsibilities of all employees, and strengthened inspections under the mechanisms of "Guarantee System" and "Open Competition Mechanism to Select the Best Candidates", truly transforming the sense of responsibility of "Always Being Worried" into the action power of "Being Confident", and effectively preventing various accidents and incidents.
Looking back on the past, each forward has been engraved with tenacity and perseverance in tempest, and every challenge has forged the courage and wisdom to forge ahead. Those glorious moments shine like the stars, illuminating our path to growth. They are not only the mark of the past, but also the precious treasures that inspire us to keep moving forward.
The year 2025 is the final year for the implementation of the "14th Five-Year Plan" and also the year of preparation for the "15th Five-Year Plan", and a new round of reform is about to begin. At this period of historical convergence, the construction industry is entering a new normal of extremely fierce competition, challenges and opportunities, while the corporate development has also entered a crucial period of metabolism, transformation and upgrading. It is particularly necessary and timely to promote the ongoing transformation and upgrading of China MCC. We should thoroughly study and implement the spirit of the Central Economic Work Conference, align our thoughts and actions with the Communist Party of China Central Committee's scientific judgment on the economic situation and its decision-making and deployment regarding economic work, enhance our confidence and strength in doing a good job in economic work, and move forward bravely in the direction guided by President Xi Jinping. We should firmly grasp the 24-character requirements of "Pursuing Progress While Ensuring Stability, Promoting Stability through Progress, Sticking to Right Path While Striving for Innovation, Establishing the New before Abolishing the Old, and Integrating Systems While Coordinating Efforts", earnestly do a good job in "Four Stabilizations and Eight Progresses", i.e. Stabilizing Growth, Stabilizing Grassroots, Stabilizing Funds and Stabilizing Workforce, as well as Promoting Basic Management, Marketing Quality, Bold Reforms, Scientific and Technological Innovation, Team Building, Party Building, Project Management and Overseas Business, and firmly take the initiative in high-quality development. We should highlight the key points and aim at the goals, improve our work ideas and key task arrangements, focus on the effectiveness and optimize the working mechanism. With higher morale, firmer confidence, and more pragmatic style, we should gather powerful synergy and make greater contributions to continuously optimize the business system of "One Core, Two Subjects, Five Characteristics", strive to promote the ongoing transformation and upgrading of China MCC, and make a concentrated effort on accelerating the achievement of "One Goal, Two Best, Five Strengths".
Spring comes and it's warm, everything is brilliant! At this wonderful moment of ringing out the Old Year and ringing in the New Year, let us, with full enthusiasm and firm determination, jointly welcome the dawn of the new year. May every drop of our sweat attribute to our career, and may every piece of our wisdom light up a more brilliant bright road! May this strength of forging ahead inspire each of us to move forward bravely and jointly create brilliance in the new year!
