A New Normal, a New Leap: Chenxing Development Company Successfully Holds Its Annual Meeting
Release date:
Feb 08,2017
As the rooster heralds the dawn and bids farewell to the old year while welcoming the new, the 2016 Annual Work Summary Meeting and the 2017 Work Plan Conference of Chenxing Real Estate Development Co., Ltd. concluded successfully on the afternoon of January 18, 2017. In 2016, despite facing nationwide economic downturn pressures, the company, under the wise leadership and strategic decisions of its management team, achieved remarkable results: total sales reached 310,800 square meters, generating revenue of 1.691 billion yuan, thus smoothly fulfilling its annual targets. Notably, the company ranked 283rd among China's Top 500 Real Estate Enterprises—a position it has maintained for six consecutive years—and continues to serve as a vital pillar within the local real estate sector. At the conference, Chairman Bai Xuanqui took his seat at the presiding table alongside the company's senior management team.
The Year of the Rooster heralds the dawn and ushers in a fresh start—as the afternoon of January 18, 2017, saw the successful conclusion of the 2016 Annual Work Summary Meeting and the 2017 Work Plan Conference held by Chenxing Real Estate Development Co., Ltd.
In 2016, despite nationwide economic downturn pressures, the company successfully completed its annual sales targets under the sound leadership decisions of its management team, achieving a total sales area of 310,800㎡ and generating sales revenue of 1.691 billion yuan. The company ranked 283rd among China's Top 500 Real Estate Developers, marking its sixth consecutive year on the list and continuing to serve as a key pillar within the local real estate sector.
Management team takes their seats on the stage.
Speech by Chairman Bai Xuankui
Speech by General Manager Bai Wu Kui
Executive Vice President Bai Guohua delivers the company's 2016 annual work report.
At 3 p.m., the meeting was held under the watchful eyes of all company employees, chaired by Wang Binzhou, Executive Vice President of Administration. Chairman Bai, General Manager Bai, and other members of the company's management team took their seats on the dais. The assembly heard detailed reports on key projects such as those in Taiyuan and Mianyang. Meanwhile, Executive Vice President Bai Guohua delivered a summary of the company’s 2016 performance on behalf of the management team. Additionally, Engineering Vice President Chief Jiao and Marketing Vice President Chief Zhao separately presented documents outlining the company’s recognition of outstanding projects from 2016 and the official launch of the 2017 business plan, respectively, while also setting forth specific expectations for the upcoming year’s initiatives.
The meeting continued as General Manager Bai Wu Kui delivered a summary of the company’s 2016 performance: steady, yet lacking in significant breakthroughs. He highlighted new priorities in land acquisition—namely, accelerating commercial inventory reduction and enhancing product development along with standardization efforts. "Land is the lifeblood of any real estate company," he remarked pointedly. "While reducing inventory is crucial, we must also focus on driving commercial inventory clearance." The general manager clearly identified the fresh challenges and obstacles the company is now facing in its growth journey, urging all employees to embrace these difficulties head-on, tackle them proactively, and strive once again for even greater success.
At the conclusion of the meeting, Bai Xuankui, Chairman of the company, delivered a summarizing speech. Chairman Bai reiterated the company’s five-year development goals—managing for an IPO, operating with an eye toward an IPO, and achieving performance that supports an IPO—while emphasizing that the company’s revenue should surpass 10 billion yuan within five years. He urged everyone to shift their mindset, embrace innovation, and proactively pursue growth opportunities. In 2017, the company plans to leverage strategic moves such as cross-industry mergers and acquisitions, as well as extending its industrial chain, to effectively integrate resources and steadily expand its business scale. Transitioning from asset management to capital operations, and from analyzing the current market landscape to outlining future directions, Chairman Bai’s remarks were both insightful and accessible, providing a clear overview of the company’s progress over the past year and a half since its IPO—and laying out an ambitious blueprint for the company’s long-term growth.
In 2017, while the national economic situation still showed no significant improvement, we faced challenges head-on, navigating through tough times with resilience and unity. We are confident that, under the wise leadership of the company’s Board of Directors and management team, and with the collective efforts of all our dedicated colleagues, 2017 will be a year of shared struggle—and together, we’ll build an even brighter future for the company.
Keywords:
