Wang Haining, a member of the Party Committee and Deputy Director of the China National Bureau of Coal Geology, led a delegation to the Group to conduct a research visit and provide guidance.

On the morning of August 11, Wang Haining, a member of the Party Committee and Deputy Director of the China National Bureau of Coal Geology, led a delegation to Sinochem Mingda Holding Group to conduct research and provide guidance on several key initiatives, including the 14th Five-Year Plan, the three-year reform action plan, management improvements under the science-and‑technology reform demonstration program, measures to reduce overcapacity and cut losses, benchmarking and performance enhancement, as well as investment and equity‑related matters.

In terms of management improvement at the demonstration enterprises under the science and technology reform initiative

Wang Haining commended the progress and achievements that Mingda Ocean Company has attained since launching its science-and‑technology reform demonstration initiative. He emphasized that the company’s reform efforts must be anchored in its strategic plan, with a strong commitment to high‑quality, sustainable development. As a vanguard of reform—proactive, decisive, and committed to driving change—Mingda Ocean should establish a replicable, system‑wide model for reform that can serve as a benchmark for others.

Wang Haining set forth seven key requirements for enhancing the management of Mingda Ocean’s pilot enterprise reform: First, with the goal of establishing a modern corporate governance system, continuously refine the corporate governance framework and clearly define the rights and responsibilities of each governing entity. Second, benchmark against industry leaders, consolidate existing strengths, and address areas of weakness. Third, formulate a robust corporate development strategy, accelerate industrial transformation and upgrading, proactively expand into mining construction and ecological restoration, and improve both revenue growth and profit margins. Fourth, make full use of reform‑related policy tools, liberate thinking, explore new approaches, and continually develop medium‑ and long‑term incentive mechanisms tailored to the company’s specific needs. Fifth, implement a comprehensive talent‑development strategy for high‑level professionals and R&D personnel, align it with supporting policies, and effectively attract, retain, and leverage top talent. Sixth, adopt a multi‑pronged approach to stimulate innovation, shift the development model, steadily increase R&D investment, and enhance the commercialization of scientific and technological achievements. Seventh, break through core, critical technologies by carefully planning and intensifying efforts to secure national‑ and provincial‑level research projects.

In terms of the Group’s overall reform and planning of investment activities

Wang Haining listened to a work report from Sinochem Mingda on its 14th Five-Year Plan, the three-year reform initiative, efforts to reduce and reverse losses, benchmarking and performance improvement, as well as investment and equity management. He commended the company’s Party Committee for steadily advancing the three-year state-owned enterprise reform program, fully implementing the General Administration’s vision of high-quality development during the 14th Five-Year Plan period, focusing on core responsibilities and principal businesses, accelerating industrial restructuring and transformation, optimizing resource allocation, and promoting regionally focused, specialized integration.

With regard to Sinochem Mingda’s work in planning, reform, and investment, four key requirements are put forward: First, continue to focus on core responsibilities and principal businesses, phase out outdated production capacity, accelerate the reallocation of resources and factors from public‑service‑oriented operations to corporate‑driven models, and forge a new development paradigm characterized by large enterprises with leaner, more agile operations and coordinated regional growth. Second, resolutely deliver high‑quality results in the three‑year reform initiative, rigorously implement all priority reform tasks, enhance the overall effectiveness of reforms, and strengthen the state‑owned economy’s competitiveness, innovation capacity, control, influence, and resilience to risks. Third, effectively advance benchmarking against world‑class management practices, promptly address shortcomings and weak links, bolster competitive strength, and drive a qualitative leap in management standards and development quality. Fourth, attach great importance to implementing the SASAC’s comprehensive supervision and rectification measures arising from inspections, seamlessly integrate and execute the seven recent special initiatives issued by the SASAC, systematically review and track key issues on an ongoing basis, and reinforce investment oversight and property‑rights management to mitigate investment risks.

Liu Xingwang, Deputy Secretary of the Group Party Committee and General Manager, stated on behalf of the Group Party Committee: The Party Committee of Sinochem Mingda will resolutely implement the decisions and arrangements of the State-owned Assets Supervision and Administration Commission, fully carry out all work requirements set forth by the SASAC, maintain high-level, sustained momentum, refine specific measures, stay firmly focused on our objectives, rigorously ensure task execution, and comprehensively achieve the reform goals and tasks outlined in the 14th Five-Year Plan. In doing so, we will lay a solid foundation for driving Sinochem Mingda toward high-quality development and for building a leading group in resource development and ecological conservation, while welcoming the successful convening of the 20th National Congress of the Communist Party of China with concrete actions and outstanding results.

Relevant leaders from the Planning and Development Department of the General Administration, the leadership team of Mingda Ocean, and heads of relevant departments at the Group headquarters attended the research visit.