On April 28, China Structural Reform Fund Corporation Limited (CSRF, or the Fund) held its 4th Meeting of the 2nd Session of Board of Directors, the 2nd Meeting of the 2nd Session of Board of Supervisors and 2020 General Meeting of Shareholders. The meetings were presided over by Zhu Bixin, Chairman of China Chengtong Holdings Group Ltd. (the Group) and Chairman of CSRF. The Group’s Vice President and President of CSRF Tong Laiming, China Chengtong’s General Accountant and CSRF’s CFO Chen Yong, and representatives from CSRF’s shareholders, CSRF’s directors, and supervisors attended the meetings.
In Tong Laiming’s work report, he stated that under the strong leadership of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), CSRF has supported SOEs’ structural adjustment, upgrading, reform and innovation via active investments in the nation’s key industries and areas. In the past five years, CSRF has invested in more than 100 projects with over RMB 100 billion yuan been delivered, which realizes the Fund’s mission of implementing national strategy and also receives excellent market return.
Representatives from CSRF’s shareholders and CSRF’s directors spoke highly of CSRF’s work in 2020 and put forward several requirements to CSRF’s work in 2021. First, CSRF should enhance research ability to deal with complicated market environment; second, CSRF should focus on emerging industry and explore high-growth investment opportunities; third, CSRF should optimize its investment management and exit strategies and secure the reduction window of secondary market; fourth, CSRF should deepen communication and cooperation among shareholders to achieve win-win development.
In Zhu Bixin’s speech, he extended gratitude to all shareholders for their support to CSRF and all directors and supervisors for their dedications, and fully affirmed the hard work of CCT Fund Management Co., Ltd. (CCT Fund). Zhu hoped that CCT Fund make persistent efforts in 2021 and aim high for better performance. As one of the biggest equity investment funds in China, CSRF has attracted extensive attention since its establishment, Zhu said. The Fund should do well in investment work and set up the benchmark for this industry with outstanding performance, and in this way to contribute to the state capital operation.
2020 Financial Statement, 2021 Financial Forecasts, 2020 Annual Profit Allocation Scheme, 2020 Board of Directors Work Report, and 2020 Board of Supervisors Work Report were deliberated and approved over the meetings.
Head of China Chengtong’s General Office, Finance Management Department, and CCT Fund’s directors and senior management team participated in the meeting.