On Dec. 30th-31st, 2015, Changbao 2016 budget meeting held in the Wuxi bocom conference center successful. The main responsible persons of the company and assistant management cadres attended the meeting. According to the 2015 budget performance and contrast with the 2016 budget plan, the participants discussed the trend of the market, how to build the core value of Changbao, how to achieve the highly effective operation of the company.

The meeting was presided over by Han Qiaolin, Party Secretary of the joint-stock company and General Manager of the Jingte Company.

At the meeting, the president Zhu Hongzhang entrusted the vice-manager Zhang Lanyong to do the general manager work report. Mr. Zhang according to the 2015 performance affirmed achievements of the subsidiaries and the relevant departments acquired, meanwhile he also pointed the insufficient and the improvement of the job. At the same time, he suggested that we should think deeply and plan the 2016 work such as production and management, fine management, tapping the potential synergies and others. In order to realize these target in 2016, we should pay more attention on the job, with "innovation + thought” as the guide, to enhance the company's internal value as the goal, further improve the company management ability, efficient operation of business development.

Mr. Zhang said 2016 is the concentration year for Changbao, we should a,s per the decision and deploy to execute the works. Serious, progress, humble curious, inwardly upward and build the reputation of Changbao that we can overcome the difficult to reach our target.

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

Chairman of the board Cao Jian represented the directorate to affirm the performance of the leading group did which lead by the president Zhu Hongzhang and sincerely thanks the entire cadre of Changbao to their hard work in the last year. Meanwhile, Mr. Cao did the speech for the 2016 market tendency, the 2016 company management concept and some basic problem of Changbao.

Mr. Cao said that 2016 China's economy is facing downward pressure will continue to increase, industrial upgrading is difficult, the transformation and upgrading of economic development situation is grim. Economic downturn, social transformation and environmental factors restrict economic development, consumption, investment, exports to the traditional economy pulling effect is not obvious. This not only exist in the steel pipe industry, but it also the current situation of the entire society.

Mr. Cao thought that 2016 steel pipe industry downturn, low prices, insufficient demand overcapacity situation will continue, the market will no longer appear cyclical fluctuations in demand. Facing this plight, domestic and foreign counterparts are subject to different levels of operating pressure that will lead the enterprise differentiation and stratification will continue to increase. However, Changbao has its own unique advantage that innovation impulse development and concentration drive inner power. Both of them can realize the efficient operation, and turn the plight into the opportunity.

Mr. Cao pointed that 2016 the most important thing for Changbao should focus on innovation and concentration that innovation impulse development and concentration drive inner power. Innovative mind helps to adapt to the environment, concentration promote the inner energy, through tapping potential synergies and brand building that can realize the operation target of maximize sales revenue and minimize expenses.

Mr. Cao emphasized that everyone should have his own dream and spirit, should take the challenge in the positive way. During the work we should have the spirit of marathon and learn to persist that, although the journey is full of pain and happiness that finally will lead us to success. Let’s

keep innovating and fighting that 2016 will be passion and unforgettable.（Editor Liu ZhiFeng）