Hongjian Leads the Way: Upholding Principles While Innovating — Yuegong Holding Group Holds Its 2020 Annual Summary and Awards Ceremony

1 On the afternoon of the 29th, the Yuegong Holding Group’s 2020 Annual Summary and Awards Ceremony was solemnly held in the fourth-floor conference room of the Group’s headquarters complex. With the theme “Advancing Together, Upholding Integrity while Innovating,” the meeting featured four agenda items and was chaired by Luo Yinchang, Executive Vice President of the Group and Chairman of both the Zhejiang and Shandong subsidiaries. Attending were Group President Ren Qiliang and other senior leaders, representatives from all departments of the Group, staff from various subsidiaries and functional units in the Zhejiang region, as well as frontline employees; members of the Group Party Committee and secretaries of its branch party committees; members of the Group Trade Union; members of the Group Youth League Committee and secretaries of its branch youth leagues; and representatives of the teams and individuals honored with annual awards—totaling more than 90 participants.

At the outset of the meeting

The host takes the stage, officially opening the conference.

Mr. Chen Bailiang, Chairman of the Group’s Board of Directors, delivered his New Year address.

In his New Year address, titled “Reform and Innovation, Relocation and Upgrading: Forging a New Development Paradigm for Yuegong,” Chairman Chen fully commended the remarkable achievements of the Yuegong team in 2020—marked by courage, resilience, and managerial innovation—which gave rise to numerous extraordinary milestones. Notably, both the Shandong and Zhejiang subsidiaries reached record‑high monthly production levels; Yuegong’s “bolt‑pipe‑concrete” prefabricated housing system was officially put into practice; and the company successfully secured the two sole steel‑structure prefabricated residential projects in Shaoxing, unlocking green opportunities in prefabricated construction. Meanwhile, the Shandong subsidiary’s contract for a 10,000‑ton steel‑structure bridge laid a new foundation for Yuegong’s aspirations in the bridge‑building sector. He emphasized that 2021 is a pivotal year for Yuegong to advance reform and innovation, carry out relocation and upgrading, and establish a new development paradigm. To this end, all Yuegong employees are called upon to wholeheartedly focus on, actively participate in, and deliver on three key priorities: First, ensure the smooth relocation of Yuegong’s old plant in Zhejiang and the successful establishment of a new facility at an alternative site, achieving a seamless transition and comprehensive modernization. Second, meticulously execute two green, prefabricated construction projects, firmly establishing the “Yuegong Green Construction” brand and turning its green prefabricated housing system into a new hallmark and a major driver of business growth. Specifically, the 10,000‑ton steel‑structure bridge project in Liaocheng, Shandong, must be completed on time and to the highest quality standards, serving as a fresh starting point for Yuegong’s bridge‑building endeavors. Third, boldly innovate Yuegong’s talent‑retention framework by implementing equity‑based incentives and pursuing reforms such as the merger of the machinery division into the Zhejiang subsidiary, thereby unleashing new momentum for the company’s development and strengthening its core business.

Mr. Ren Qiliang, President of the Group, delivered the “2020 Annual Work Report.”

President Ren provided a detailed overview of the Group’s performance across all key economic indicators, highlighting efforts to contain the pandemic and resume work and production in a spirit of unity and determination; to seize opportunities and accelerate market expansion and capacity release; to continuously advance innovation and excellence initiatives as well as the Safety and Quality Month campaign; and to foster a harmonious corporate culture and ensure the ongoing pursuit of employee well-being. He commended and expressed gratitude to all Yuegong employees for their mutual responsibility, shared resilience, and collective perseverance throughout 2020. He emphasized that all Yuegong personnel must deeply understand and earnestly implement Chairman Chen’s guiding principles—“reform and innovation, relocation and upgrading, and the creation of a new development paradigm for Yuegong”—making these directives the cornerstone of our year‑long work and our primary strategic focus. To this end, he outlined six key priorities: first, ensure that annual targets are not only met but surpassed; second, achieve comprehensive upgrades in the relocation and new‑facility construction projects; third, launch Yuegong Green Building initiatives with a strong, decisive start; fourth, significantly enhance our ability to fulfill contractual obligations; fifth, strengthen team building to provide solid support; and sixth, rigorously and effectively drive innovation and excellence.

Award Ceremony for Recognizing Outstanding Achievements

Annual Model Party, Labor, and Youth League Organization

Outstanding Individuals in Resuming Work and Production While Fighting the Epidemic

Innovation and Excellence Individual Award

Innovation and Pioneering Group Award

Remarks by the subsidiary’s or business unit’s general manager or representative

Speech by Chen Kuanli, General Manager of the Shandong Company

General Manager Chen Kuanli summarized, with data, the Shandong Company’s performance in 2020 across key metrics—including component output, contract value, sales revenue, and taxes paid—and outlined his commitment to achieving the 2021 targets. He stated that, to meet these objectives, the company has formulated an overarching work plan for 2021 and developed detailed strategies and measures covering marketing, management, and business development. In 2021, the Shandong Company will continue to uphold a proactive, collaborative, and upward‑moving spirit, strengthening its core competencies, addressing weaknesses, expanding market reach, optimizing production, and driving profitability. With full confidence, the company is poised to accomplish its annual goals and make its due contribution to the high‑quality, steady growth of Yuegong Group.

Chen Jian, Executive Vice President of the Zhejiang Company, delivered a speech.

Deputy General Manager Chen Jian succinctly summarized Zhejiang Company’s 2020 performance across all key operational metrics, outlined the target objectives for 2021, and identified the challenges ahead in achieving these goals. He emphasized that, in 2021, Zhejiang Company will prioritize efforts in human resources, marketing operations, workshop capacity, functional capability enhancement, financial management, safety oversight, off-site project development, and Party building to ensure the successful attainment of its targets.

Speech by Ai Shenghui, General Manager of the Intelligent Parking Equipment Division at Zhejiang Yuegong.

General Manager Ai Shenghui delivered a statement focusing on three key themes: “three expressions of gratitude,” “one concrete action,” and “our unwavering resolve.” He affirmed the company’s unconditional cooperation and full support for the restructuring that establishes the Intelligent Parking Equipment Division, designating 2021 as the division’s “Year of Market Expansion.” Building on marketing strategies and rhythms proven effective in previous years—though temporarily suspended due to the pandemic—the company will press ahead while innovating and refining product design and manufacturing. By identifying strategic entry points, developing new technologies and products, and pursuing breakthroughs, it will place the market at the forefront and technology at the core, guiding all aspects of the Garage Business Unit’s operations. In 2021, the Garage Business Unit is poised to deliver a highly satisfactory performance.

This conference not only summarizes and commends the achievements of 2020, but also calls on all members of the Yuegong community to remain firmly aligned with Yuegong’s development strategy and annual work priorities—upholding unwavering conviction, embracing responsibility, fostering unity across all levels, actively engaging in every task, demonstrating resilience and perseverance, and dedicating ourselves wholeheartedly to the successful implementation of all initiatives for the new year. In doing so, we will contribute our wisdom and efforts to shaping a new development paradigm for Yuegong and achieving sustained, high-quality growth.