The 2020 work conference of Sinomach is held on Dec 30 in Beijing. [Photo/sinomach.com.cn]

Sinomach held its 2020 work conference on Dec 30 in Beijing. During the meeting, the company’s leaders reviewed its work in 2019, and planned its future work for 2020, with the focus being on elevating the high quality reform and development of the company to a new level.

Zhang Xiaolun, chairman of Sinomach, attended the conference and delivered a speech. Song Xin, deputy Party secretary of the company, presided over the event and made a concluding speech. Leaders of the company and its subsidiaries attended the conference either at the venue or via video connections.

In 2019, Sinomach achieved an operating income of 292.46 billion yuan ($41.95 billion), a total profit of 10.04 billion yuan ($1.44 billion) and an economic value added of 2 billion yuan ($286.83 million), with a year-on-year increase of 14.3 percent, fulfilling its annual targets.

In the past year, Sinomach has maintained the steady development of its production and operation, ensured the smooth progress of enterprise reform, achieved good results on innovation-driven projects, and continuously enhanced risk management and brand influence. The company also actively performed its social responsibilities, especially in poverty relief.

Facing the increasing risks and challenges at home and abroad along with the decline of the growth rate of the machinery industry, Sinomach has been resolutely implementing the national strategy, adhering to high-quality development requirements, putting emphasis on the company’s main business and responsibilities, exerting itself to modernize its enterprise governance system and management ability, and has made hard-won achievements in all these areas, said Zhang

In view of the international and domestic economic situation and the overall development of the industry, Zhang pointed out that there are plenty of favorable conditions and positive factors in China's economic and social development at present and in the coming period, with difficulties and challenges also on the rise. He stressed that Sinomach should make an analysis and judgment on the situation in an objective manner. With opportunities and challenges coexisting, the company ought to mobilize all positive factors to propel its development.

Zhang also made demands on future work. He said that, in 2020, the company should continue to improve the quality and efficiency of its production and operation and boost high-quality business development; pay more attention to its main business and responsibilities with an eye on facilitating technological innovation, optimizing layout structure and consolidating its development foundation; conform to the standards of world-class companies and enhance its competitiveness, innovation, influence and anti-risk capability; guarantee breakthroughs in enterprise reform, provide strong support for major national strategies and make sure that all settled targets will be fully accomplished.

The unveiling ceremony of China Machinery Engineering and Construction Group was held during the conference. Its establishment is aimed at promoting the development of the company’s engineering business.

Song said in his concluding remarks that this conference is of great importance at a critical stage when high-quality development of the company should be brought to a higher level. The meeting laid a solid foundation for accomplishing the 2020 goals and realizing the company's 13th Five-Year Plan target. The key work in the next phase is to focus on the target tasks and adopt creative work patterns basing on the actual situation and arrangements.

The “ten major events of Sinomach in 2019” was released during the conference, helping its employees and the wider society to better understand the company’s developments. The event also commended the company’s model workers and advanced units in 2016-2018, as well as the units that won the “Advanced Units Award” and other prizes in 2019. It served to encourage all staff to make unremitting efforts to build the company into a world-class comprehensive industrial equipment group.