On 23 and 24 August, Luo Yinyu, Chairman of Zhongzhi Energy Group (ZEG), led the management team of Guizhou Ansheng Energy, once SDEG’s subsidiary that has been bought by ZEG, to Shandong Energy Group (SDEG) to discuss the follow-up matters since the handover of the equity transfer of Yankuang Guizhou Neng Hua. On the morning of 24 August, Zhang Baocai, Deputy Secretary, Director and General Manager of the CPC Shandong Energy Committee, met with the management team.

In the words of Zhang Baocai, SDEG and ZNG have established a deep bond amid the cooperation of the "Enriching Guizhou" project. Ever since the handover of equity transfer of Guizhou Neng Hua completed on 28 December 2020, the management team of Guizhou Ansheng Energy has made fruitful progress, especially in resolute reform on supply and sales, which has helped the company smooth away the initial difficulties arising from the mixed-ownership reform in the first half of this year.

Thanks to the gradual effect from the mixed-ownership reform, Guizhou Neng Hua is expected to secure substantial profits in the second half year. Mr. Zhang hoped that both sides shall continue to consolidate the cooperation achievements, draw on their own respective advantages, strictly follow the bilateral agreement and articles of association, promote the collaboration in accordance with laws and regulations, and run the company in a transparent and efficient way. Thus to enable the far-away-from-home workers in Guizhou and all the interested parties to benefit from the tangible achievements of the mixed-ownership reform.

In response, SDEG will give full play to its advantages in resources, technology, talents and markets, strengthen exchanges with all parties in the joint venture, and share development opportunities, as a way to depict what a win-win model is truly like. In this way to boost the quality development of Guizhou Ansheng Energy.

The leader of management team of Guizhou Ansheng Energy said that ZEG and his team will work closely with SDEG to explore how to achieve the high-quality development of Guizhou Ansheng Energy, and join hands to solve the conundrums arising from the mixed-ownership reform. Effective measures shall be taken to invigorate relevant systems and mechanisms after the reform, so as to find the convergent common interests and ensure the realization of in-depth cooperation and win-win development.

Attendees in the meeting also had candid and frank communication on the issues faced by Guizhou Ansheng Energy that need to be resolved through consultation.

Zhou Hong also attended the meeting, who is Member of the Standing Committee of CPC Shandong Energy Committee, Auditor in Chief, and Director of CPC Shandong Energy Organization Department (Human Resources Department).