OREANDA-NEWS.  July 14, 2014. The Annual Shareholders’ Meeting 2013 of MCC was smoothly convened in Beijing.

The meeting was presided over by MCC Chairman Guo Wenqing. Shareholders, members of Board of Directors, members of Board of Supervisors and senior management staff were present at the meeting. At the conference, 12 proposals were reviewed and approved, for instance, the Proposal on Election of Executive Directors of MCC. In addition, the participants were debriefed on the Work Report 2013 of Independent Non-executive Directors of MCC.

The conference was held in a cordial and friendly atmosphere. At the outset, Chairman Guo Wenqing expressed gratitude to the shareholders for their long-lasting understanding and support extended to MCC during the past time. Afterwards, Chairman Guo Wenqing and President Zhang Zhaoxiang conducted in-depth communication with the shareholders on the issues of mutual interest, for example, operational and financial performance of MCC, shareholder structure, overseas resources projects and enterprise reform.

Chairman Guo emphasized that, though MCC suffered a loss and experienced a nose-dive in 2012, the company was not knocked down by the concentrated turmoil, neither was collapsed by the protracted problems. Over the past more than one year, some of the leftover problems have been resolved progressively. In compliance with the efficiency-oriented principle, MCC led itself out of its doldrums in 2013 by making up deficits and increasing surpluses, of which the benefit growth rate ranked the first among all the central enterprises. In addition, MCC continues to maintain a sound momentum of growth in 2014.

President Zhang Zhaoxiang stated that, MCC has intensified endeavors on market exploration, as well as the planning and operation in line with the macro-environment, large platform, key projects and major clients, and eventually made remarkable achievements. The value of newly-signed contracts from January to May of this year is increased by 64.8% than that of the corresponding period in last year, which has laid a firm foundation for the operational performance of MCC in the future. On the other hand, the company has redoubled efforts on improvement of internal management and the operational performance witnessed a better turn by means of quite a few measures such as reduction of procurement costs through centralized purchasing, deduction of sub-contracting cost, enhancing financial management and cut-down of financial expenses.

At the conclusion, Chairman Guo Wenqing pointed out that MCC has stepped onto a new track of healthy and stable development. He expected the shareholders to offer support and understanding as always to MCC. The Board of Directors and the Senior Management will make persistent efforts to create a promising future for MCC and achieve much better results for the shareholders.