First Board Meeting of TISCO in 2016

On January 26th, Taiyuan Iron & Steel (Group) Co., Ltd. held its first board meeting in 2016. The meeting was presided over by the chairman Li Xiaobo and attended by deputy chairman Gao Xiangming, as well as board members Zhou Yizhou, Wang Xinping, HAN Ruiping, Wang Jiguang, Chai Zhiyong, Han Zhentang and Gao Jianbin.

 

Supervisors of Supervisory board Li Juan, Gen Ling and Zhang Hengyi, director and vice director of Special committees of the board, senior management, general counsel and directors of related departments attended the meeting as non-voting delegates.

 

The Summary Report of 2015 and New Plan for 2016 presented by Mr. Gao Xiangming, the GM of TISCO, were heard in the meeting. Besides, budget implementation in 2015 and General Budget (Draft) in 2016 were tabled for review.

 

The meeting recognized the efforts made by management level to lead TISCO staff to aim at target made by the Board, overcome difficulties, keep innovation, and ensure safe and stable operation in 2015, a difficult year full of severe and complicated market challenges. The achievements made by TISCO management team were fully affirmed. The target of Group Company in 2016 set out by Mr. Gao Xiangming was approved by the meeting.

 

It was pointed out in the meeting that the year of 2016 is the kicking-off year for the company’s “thirteenth five” plan as well as a critical year for successful survival battle and “Century Dream of TISCO”. We will adhere to the guidance of 18th National Congress and the 3rd, 4th, and 5th Plenary Sessions of the 18th Central Committee of the CPC, the requirement of the 7th session of the tenth plenary session of Shanxi Provincial Party Committee and TISCO strategy plan of strengthening the main business with

extended, diversified, environment friendly and harmonious development; we will insist on reform, innovation, value operation, product variety and quailty optimization, benchmarking, and rule of law; we will resolve the market pressure, motivate our managers, inspire our staff; we will continue our battle against sluggish economy and realize sustainable development. We will adhere to deepen reform and focus on stimulating endogenous motivation and creative vitality. We will attach great importance to the market and customers to improve quality competitiveness and customer satisfaction. We will adhere to the diversified development to expand new spaces for surviving and developing. We will deepen the effects of benchmarking and cost-cutting. We will run the company lawfully by focusing on the prevention and control of all kinds of risk, and elevate production safety and environment protection, ensure to achieve the goal of annual budget.

 

The following documents were reviewed and approved by the board meeting: 2016 General Budget of TISCO Group (Draft), TISCO Group’s Proposal on compensation fees for land occupation of Sigou village by Jianshan Iron Mine.