The summary and commendation conference for the renovation, expansion, and upgrading project of the Shaoxing Hotel under Yuegong Group, together with an economic performance analysis meeting, was successfully held.

9 On the 2nd of the month, the summary and commendation meeting for Phase I of the Shaoxing Hotel Renovation and Expansion Project of Yuegong Group, together with an economic performance analysis session, was held in the conference room of the Golden Coast Hotel in Xiangshan, Ningbo. A total of 72 participants, including group executives, representatives from all group departments and subsidiaries, and personnel involved in the Shaoxing Hotel project, attended the event.

The meeting was chaired by Jiang Jinlong, Executive Vice President of the Group, and consisted of four main segments: first, presentations summarizing the work of each discipline under the Shaoxing Hotel Renovation, Expansion, and Upgrading Project (Phase I); second, performance reviews for the first eight months of 2018 and plans for the next phase across all subsidiaries; third, an awards ceremony honoring individuals who made outstanding contributions to the Shaoxing Hotel project; and fourth, a speech delivered by Ren Qiliang, President of the Group.

Chen Yan, representing design refinement; Zhang Shaojiong, representing the Manufacturing Department and Quality Control of the Zhejiang Company; Zhao Bin, representing the Manufacturing Department of the Shandong Company; Chen Jian, representing planning and coordination; Xie Guoyao, representing engineering management; Zhao Yiliu, representing logistics support and overall coordination; and Feng Shuiyun, representing outsourced and subcontracted partners, each summarized the work of their respective disciplines. Drawing on their firsthand experiences, they outlined the project’s distinctive features and recounted the arduous yet inspiring journey from contract award to successful completion. They vividly depicted how every specialized department, all stakeholders, and every team member rallied around the project, adhered to the schedule, worked in unity, pushed beyond limits, transformed pressure into motivation, and ultimately fulfilled their mission—winning this tough battle with remarkable determination. Their accounts deeply inspired and educated the attendees, earning sustained, enthusiastic applause from the entire audience.

Subsequently, Hua Yuwu, General Manager of the Zhejiang Company; Liu Qingli, General Manager of the Shandong Company; Ai Shenghui, General Manager of the Machinery Company; and Lou Zugen, General Manager of the Real Estate Company, each took to the stage to present reports on their respective companies’ operating performance from January to August 2018, as well as their work plans for the remaining four months of 2018.

General Manager Hua presented his forecast for the year’s key economic indicators, emphasizing that business orders must remain stable, collection targets must be met, processing capacity should strive to be fully utilized, and profit goals must be secured. Looking ahead, he outlined four strategic priorities: first, consolidate and sustain the strong growth of our traditional businesses; second, expand by further integrating project managers into our operations; third, scale up to reach a new level of size and scope; and fourth, achieve breakthroughs—particularly in green assembly—and seek strategic partners, while also advancing our preparations for an IPO. To this end, Zhejiang Company will implement a multi‑pronged approach, taking concrete measures across four key areas—economic performance, human resources, project execution, and new‑business value—to ensure the successful completion of all objectives.

General Manager Liu summarized the Shandong Company’s performance from January to August across ten key areas, while also identifying six critical issues and proposing corresponding measures to address them. In outlining the company’s next‑step plan, he elaborated on six priority areas—external resource integration, marketing, production, technology, technological upgrading, and strategic development—expressing that the Shandong Company is fully confident in achieving its major annual economic targets and is committed to delivering on all fronts.

General Manager Ai summarized the Machinery Company’s performance from January to August 2018 in five key areas: first, precise market positioning that leverages strengths and mitigates weaknesses; second, cost reduction and efficiency enhancement; third, technological innovation; fourth, expansion of maintenance and after-sales service operations; and fifth, ongoing efforts to ensure safety and quality. General Manager Ai stated that the company will make every effort to deliver strong results in the fourth quarter, thereby ensuring the achievement of all annual targets.

General Manager Lou stated that the real estate company should, in accordance with the progress of the Weidu District’s development as directed by the government, proactively handle all necessary approval procedures for the construction of the property management building.

Following the reading of the Group’s decision to commend participants in the Shaoxing Hotel Renovation and Expansion Project (Phase I) by Vice President Jin Fei, Group President Ren Qiliang presented cash awards to the Zhejiang and Shandong companies, with RMB 200,000 awarded to the Zhejiang company and RMB 50,000 to the Shandong company. Subsequently, the Zhejiang company disbursed bonuses on the spot to 38 employees who made significant contributions to the Shaoxing Hotel project.

At the conclusion of the meeting, Group President Ren Qiliang delivered a speech. President Ren once again extended his warm congratulations on the successful completion of the Shaofan Project, and expressed his heartfelt gratitude to all personnel involved in the project, to the heads of external partners and subcontractors, and to the families of all employees at Yuegong.

The president pointed out that Yuegong urgently needs to prove himself with a tough battle, and the Shaofan project could not have come at a more opportune moment.

The first phase of the Shaoxing Hotel Renovation, Expansion, and Upgrading Project is undoubtedly a major undertaking that has drawn close attention from top officials—such as the Party Secretary and the Mayor—to ordinary citizens. The project’s main steel structure was undertaken by Yuegong, which is both a rare opportunity and a significant challenge, for signing the contract amounts to issuing a solemn pledge with no room for retreat. This project is exceptionally unique, with political implications and time constraints far exceeding anything we have handled before. The situation was extremely demanding, and the timeline was exceedingly tight. Whether to accept the job—or dare to take it on—was a true test of Yuegong’s courage, capabilities, and confidence. Fortunately, thanks to favorable timing, location, and circumstances, the project ultimately proceeded smoothly, albeit with considerable tension along the way. Looking back, this case demonstrates that Yuegong made a decisive decision to step up, worked tirelessly under arduous conditions, and achieved a successful outcome. Beyond being an inspiring example, it served as a rigorous crucible for strengthening our resolve, enabling Yuegong to accumulate invaluable experience and robust data in managing large‑scale construction projects, while also honing our team and bolstering our reputation. We are deeply grateful to the Shaoxing Hotel project for giving us the chance to reassess ourselves from a new perspective and for proving to our peers and the wider public that Yuegong honors its commitments, maintains unwavering integrity, possesses the strength to undertake challenging and high‑stakes projects, and can mobilize the entire group to deliver outstanding results.

The president emphasized that the success of the Shaofan Project was fundamentally rooted in the people’s support and hinged on their spirit.

When hearts are united, even Mount Tai can be moved. At the 2018 Annual Work Conference, Chairman Chen Bailiang emphatically stated, “When the efforts of every Yuangong employee are devoted to a shared dream, Yuangong will grow ever stronger and stride toward greatness.” How true these words are. This time, the Shaofan project we undertook seemed an impossible task—fraught with overlapping adverse factors that imposed both tangible and intangible pressures, creating a relentless siege, pursuit, blockage, and interception. Indeed, one cannot truly appreciate the difficulty until one has experienced it firsthand. From widespread initial concerns to a successful, on‑schedule completion, the story took a dramatic turn—all thanks to the entire group’s unity of purpose, and to the tenacious spirit and indomitable resolve of all those involved in the project. With the goal as our command, everyone responded to each challenge with ingenuity; through countless trials and tribulations, they remained steadfast, clinging to an unshakable belief in victory—refusing to complain, to dwell on hardship, to quibble over details, or to admit defeat. They withstood the pressure, gave their all, worked by the hour, day after day, step by step—until, at last, the path opened up to a brighter future. This battle was fought with remarkable skill and determination. It not only perfectly embodied Yuangong’s corporate culture of “passion, grandeur, harmony, meticulousness, cooperation, and proactiveness,” but also further taught us that when brothers stand as one, even the most arid soil can yield gold. People must always maintain a spirited outlook; only by uniting as one and persevering without losing heart can we overcome any obstacle. As long as our morale remains high, solutions will always outnumber difficulties. The collective will of the people, coupled with sincere dedication, proved to be the decisive force that enabled us to surmount every hurdle and see the mission through to a successful conclusion.

The president said with deep emotion that rewarding those who have made contributions to the Shaofan Project is entirely appropriate and indispensable.

The Shao Fan project was able to turn the impossible into reality and, despite an exceptionally tight schedule, was completed ahead of the Yue Gong project—largely thanks to the extraordinary efforts of every team member. Seizing this rare opportunity, the Zhejiang company remained steadfast, giving it their all. The Shandong company stepped forward willingly, offering support in kind, and together, everyone pooled their strengths, surmounted immense challenges, and fought for the honor of Yue Gong, demonstrating unprecedented passion and a strong sense of responsibility. They poured every ounce of energy into tackling this formidable task and ultimately saw it through. Throughout the entire project, working overtime was the norm; the tireless dedication of every participant ensured the project’s success and made possible the joyful laughter we share today. They truly deserve to be called the heroes of Shao Fan and the stalwarts of Yue Gong. Therefore, rewarding those who contributed to the Shao Fan project is both practical and morally imperative—more accurately described as compensation for overtime, allowances, heat‑related subsidies, and hardship pay than as traditional bonuses. In particular, General Manager Hua Yuwu has been the soul and linchpin of the entire endeavor. Without his personal leadership, meticulous coordination, and unwavering sense of responsibility, the outcome would have been unimaginable. He is, without question, the principal architect of the Shao Fan project. Yet when it came to distributing the rewards, he voluntarily declined even a single cent, insisting that all the funds be allocated to his colleagues. We should all give General Manager Hua a well‑deserved round of applause!

The president has instructed that, although the Shaofan Project has been successfully completed, the Yuegong culture it embodies, the spirit and demeanor of the Yuegong people it showcases, as well as the lessons learned from the project itself, all warrant further thorough review, analysis, summarization, and refinement—so that they may become a valuable asset for Yuegong and be transformed into our core competitive advantage. We must accord the same high priority to summarizing these experiences as we did to the project itself, diligently assimilate the insights gained, and thereby drive new enhancements and improvements in Yuegong’s capabilities in scientific management, contract performance, and other areas—actions that are highly meaningful.

Regarding the work for the final four months of 2018, General Manager Ren set forth the overarching requirement: take the successful completion of the Shaofan Project as a powerful driving force, keep the year‑long targets firmly in sight, and launch an all‑out sprint starting now. The soaring enthusiasm sparked by the Shaofan Project must be translated into concrete actions, further accelerating implementation and achieving our objectives, so that by year’s end we can deliver a satisfactory performance.

The President particularly emphasized the issue of workplace safety, stating: “Since the beginning of this year, the safety situation has grown increasingly grave, and all companies must remain highly vigilant. Safety is the cornerstone of our company’s survival and development; no amount of emphasis is too much. We must keep safety firmly at the forefront, prioritize the personal safety of our employees, implement concrete measures, effectively prevent major accidents, resolutely curb them, strictly control significant incidents, and reduce the occurrence of minor accidents—truly ensuring that workplace safety remains paramount and that lives are put first. It is imperative to thoroughly analyze both objective and subjective causes, paying particular attention to identifying root causes within ourselves and avoiding blame-shifting. Responsibilities must be clearly defined, and those found negligent must be held accountable with utmost seriousness; we cannot afford to go through the motions. Moreover, we must look beyond the immediate circumstances to address the underlying issues: wherever gaps exist, we must fill them, and for every problem revealed by an accident, we must resolve it with unwavering determination.”

The President emphasized that those who act often succeed, and those who persevere ultimately arrive. With less than four months remaining this year, the mission is upon us, and the tasks are pressing. Thinking alone breeds problems; taking action is the only answer. I urge everyone to take the initiative and, through concrete, tangible efforts, sprint toward our annual goals.

That evening, the Group Office hosted a lavish celebratory dinner for all attendees. After enjoying a hearty meal and plenty of drinks, everyone gathered on the beach for a bonfire party. On the sand, the Youth League team had already set up the venue: rows of YG flags and the YG logo outlined in candlelight announced the star of the evening, while the blazing flames in the fire pit seemed to dance with joy at the successful completion of the YG Shao Fan project. Guided by the emcee, one performance followed another in an orderly fashion, creating an electrifying atmosphere. Spirits were high as everyone huddled around the bonfire, sipping beer, singing, dancing, and reveling in the warm, festive mood.

9 On the morning of the 3rd, Yuegong and his group split into four teams and boarded four fishing boats to head out to sea. Along the way, basking in the sea breeze and gazing at the vast ocean, everyone felt utterly at ease. The highlight came when the boats began hauling in their nets: almost everyone gathered at the stern, eager to witness their team’s catch firsthand. The WeChat group quickly lit up with photos of fish, shrimp, and crabs, brimming with everyone’s satisfaction and joy. In the afternoon, they explored the ancient town of Shipu Fishing Port, strolling along its stone-paved streets, soaking in the atmosphere of this historic locale, and occasionally snapping a photo to mark their footsteps.

The two full days of activities allowed everyone, after the intensity and hard work of the Shaofan Project, to once again find mental and physical release, while also building up strength for the challenges ahead.