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Address of the General Manager

In recent years, the growth of national power demand has decreased sharply, while the competition in the energy saving and environmental protection industry has increased. The problem of wind generation abandonment and power rationing in the new energy industry has been very severe. Structural adjustment and industry reshuffle have been constantly progressing as a result of surplus in the national economic capacity. Guodian Tech is also in the midst of phasing out unsatisfactory production capacity, adjusting structure, enhancing quality to increase effectiveness.

In 2015, the Group has adhered to its strategy of transformation development by conscientiously implementing the work deployed by the Board of Directors and proactively coping with the tough challenges in the market. The Group has overcome multiple challenges on many fronts including the slowdown in the growth of the macro-economy, rapid decline in power demand, the pressure of financing and the rising operation costs. The Group has also solved problems accumulated in long-term operations so as to maintain the enterprise’s steady operation.

In addition, the Company achieved substantial progress in respect of the cultivation of new business. For example, two generators located at Hainan Ledong Power Station constructed by Guodian Longyuan Power Technology and Engineering Co., Ltd. were brought into the national power grid with all indicators performing well, the construction period for which only took 16 months, which has created an advanced level of national construction for similar units; the acquisition of good quality generator units including Jianbi by Longyuan Environmental has implemented denitrification franchise, and the development project of reserving 1.5 million KW of wind power has further improved the Company’s profit structure.

Going forward, the Company shall diligently implement the “155 Strategy”, set up value and create ideals, through deepening reform, reinforcing management, improving mechanism, optimizing indicators, and improving capacity. The Company shall adhere to market-orientation, accelerate the business combination, increase the market competence in quality, service, cost and technique, take the economic, political and social responsibilities, to contribute to the continuous development of Chinese economy in fields of saving energy and environmental protection.

Mr. CHEN Dongqing

President