On July 28, 2012, the ChemChina mid-year work conference was held. The conference summarized the first six months, provided analysis on the current corporate atmosphere and work plans for the second half of the year. The videoconference had also commended outstanding employees.
Deputy General Manager Yang Xingqiang spoke about key work developments, production and problems during the first half of the year. In the first six months, business revenues surged to 1,031.8 billion yuan ($161.7 billion), increasing 17.78 billion yuan by 20.8%. He called for his employees to improve sales, reduce costs, improve management, strengthen safe production, save energy and reduce emissions.
General manager Ren Jianxin outlined pivotal projects for the next six months. He said ChemChina ranks 402nd in the world’s top 500 enterprises in 2012, rising 73 from the previous year. He concluded that the group struggles with problems such as high assets-liabilities ratio and increasing losses.
He called for enterprises to analyze carefully, improve management, develop new markets and stabilize production and operations. Enterprises should upgrade key works and attach importance to organization construction, talents introduction and cultivation, as well as financial management. For structural adjustments, enterprises should improve production capacity and strengthen profitability and core competitiveness without repeating construction work.