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STEC held the fifth Board of Directors of Second Term

Date:2017-12-28

On December 25th, 2017, Shanghai Triumph Energy Conservation Company Ltd. (STEC) held the fifth Board of Directors (BOD) of Second Termat the headquarters of Mitsubishi Corporation (MC) in Tokyo, Japan. The meeting was presided by Mr. Yao Dan, Chairman and General Manager of STEC. The Vice Chairman Kobayashi Naoki, Director Tang Hongyun and other board members attended the meeting. The representative of STEC included Vice General Manager (Liu Peng), Financial Director (Xu Ying) and the representative of MC included Deputy Minister (Kobayashi Takefumi) and Vice Minister (Fujimoto Kiichiro) of Public Facilities Department; Vice General Manager (Yoshida Hayato) and Section Chief (Tsudo Azusa) of Infrastructure Department jointly discussed the development of company during the meeting.

On behalf of the main management team of STEC, Mr. Yao Dan as the Chairman and General Manager, made the Annual Report of 2016 and the Company Business Report of 2017 to the members of BOD.Under the macro environment and the severe industry situation in China, STEC responds to the policy call of state: “Going Global,earnestly implements the requirements of “Improving quality and improving efficiency, transformation and upgrading” to push forward the works in all aspects. He introduced the development of WHR Projects in Pakistan, South Korea, and Biomass Projects in Japan, as well as the potential market development in South America and South Korea. The development direction of the company in the next three years has been planned and summarized, meantime the main deliberations was submitted to the BOD during the meeting. Chairman Yao expressed deep gratitude to MC for its strong support in the areas of information, technology and market development and he hopes both parties will further strengthen the cooperation in the third party market for energy conservation and environmental protection field, and make full use of the advantages of capital, technology and popularity of shareholder to achieve better results in the third party market.

Kobayashi Naoki, Vice Chairman affirmed the efforts and achievements made by STEC in the last few years. He expressed that as the shareholder of STEC, MC will share its own advantages to provide more support to STEC. The Main business cooperation of both parties is based on WHR market, but at the same time, STEC need to reformulate strategies to cope with market changes due to the changeable WHR market. He sincerely looks forward to the continued cooperation between both parties after completing the first ten years of cooperation in 2019.