On April 19, Yunnan Investment Group held theEconomic Operation Work Meeting for the First Quarter of 2021, at which it"reviewed and investigated" its economic operation and studied anddeployed efforts to accelerate high-quality development of the Group. QiuLujun, Secretary of the CPC Yunnan Investment Group Committee and Chairmanattended the meeting and made a summary speech. Zuo Guang, Deputy Secretary,Deputy Chairman and President took the chair.
The Operation Management Department, InvestmentPlanning Department and Financial Management Department (Financing ManagementDepartment) of Yunnan Investment Group reported the business results andeconomic operation, progress in key projects, budget execution and investmentand financing work for the first quarter respectively. Six holding enterprises,namely Yunnan Provincial Social Undertakings Development Co., LTD, YunnanInvestment Construction, Yunnan Asset Management Co., Ltd., Yunnan InvestmentForestry and Pulp, Yunnan Provincial Digital Economy Industry Investment GroupCo., LTD and Yunnan Provincial Tourism Investment Co., LTD, reported their workin the first quarter. It was pointed out at the meeting that Yunnan InvestmentGroup has maintained a good momentum of good start and steady progress so farthis year. The first quarter saw a generally good performance of operatingindicators. Compared to the same period in 2019 and 2020, Yunnan InvestmentGroup recorded an increase of 52.98% and 23.17% in consolidated assets,respectively; an increase of 74.56% and 35.59% in net assets, respectively; adecrease of 4.42 and 3.28 percentage points in the asset-liability ratiorespectively, and the total consolidated profits increased by 109.27% over 2019on a year-on-year basis. Yunnan Investment Group will strive to improve theteam's learning ability and professional competence and enhance the Group'sability to operate, prevent and control risks, cope with stress and conductinternal management and control against the standards of the world's top 500enterprises. In the second quarter, each enterprise of Yunnan Investment Groupshould focus on key tasks, projects and parts and working measures, find outthe "bleeding point" of loss-making projects and the "growthpoint" of business development, "generate profitable revenues andprofits with net cash flow", and strive to accomplish all goals andmissions set at the beginning of the year.