From July 20 to 21, 2014, the Company held the budget meeting for the second half of 2014 at the third floor conference center of Changbao Energy Pipe Co. Ltd., Chairman Cao Jian, President Zhu Hongzhang, the company's principal responsible person and assistant management staff attended the meeting. Participants focus on the first half of 2014 budget, as well as in the current grim situation, how to strengthen confidence, drum drive, ningxinjuli, overcome difficulties, comprehensive high quality completion of the 2014 budget target exchange seminars. Meeting hosted by the deputy general manager of the company Zhang Lanyong.

At the meeting, the main responsible person and representatives of relevant departments have made a summary of the first half of 2014 and the second half of 2014 work plan report.   The relevant functional departments of the Company made four special reports on R & D management, material procurement management, raw material procurement management and human resources management. The meeting also arranged four symposium on production management, human resources and security management, equipment maintenance and development management,sales market research and development.   

After listening to the company, the relevant departments and the thematic reports, the president Mr. Zhu affirmed the relevant departments achievements in the first half of 2014, and pointed out the insufficient and improvement in the work. Then he summarized the work in the second half of 2014 to focus on the work carried out from seven aspects：first must adhere to customer first, to create value for customers; second to adhere to the quality first, to achieve quality production; third to strengthen cost control, and enhance the competitiveness of development; fourth to promote the transformation of the market, strengthen market development; fifth to speed up the transformation of products, enhance the competitiveness of products; sixth to strengthen the construction of cadre style, enhance the ability of teamwork.

At the end of the meeting, chairman of the board Cao Jian did the important speech.

Mr. Cao believes that the current manufacturing industry in China, as well as the steel industry is undergoing fundamental changes. The next few years, should be a process of survival of the fittest, and down to the capacity of the process will be very painful. Changbao must see the situation and the situation of the industry, to see the logic behind the industry relationship. There is no sunset industry, only the setting sun enterprises. Traditional industries more stable, as long as we are ready, we will be able to achieve new breakthroughs and development.

Mr. Cao emphasized that facing with the situation in the industry, Changbao can not overestimate their own ability, but must not underestimate their ability. Any crisis is an opportunity to progress, will generate new forces, there will be a new enterprise, the new talent come to the fore. Now steel enterprises generally difficult to run, but also has a characteristic of the steel enterprises are still in good operation, there is a good economic benefits.

Mr. Cao pointed that we are in a gradually mature market and society, we should have a deep understanding of the current situation, to recognize the general law and special law seriously study on the market and industry, and find their own development characteristics, identify the reference system, development direction and path of each subsidiary, identify each product, with independent business perspective to think about development issues.

 Finally, Mr. Cao pointed that everyone has to do a real value of the regular treasure people, through the efforts to achieve their own value. Not only too achieve their own value, but also should win the glory for Changbao, the Chinese private enterprise, the Chinese manufacturing industry, our family and children.