On December 16, Sinopec Oilfield Service Corporation (SSC) held its second extraordinary general meeting of shareholders this year in Kuntai Royal Hotel, Beijing. The meeting passed six resolutions including sustaining connected transaction, appointing Pan Ying as independent director and revising company charter. In the following sixth meeting of the eighth Board of Directors, personnel adjustments were made to the audit committee, remuneration committee and strategic committee.

In the meeting, Sinopec Senior Vice President and SSC Chairman Jiao Fangzheng expressed his appreciation to directors, supervisors and the management for their hard work and contribution to SSC in 2015. In 2015, the Board of Directors conducted its work smoothly, improved corporate governance and was awarded The Best Board of Directors of Listed Company by Ta Kung Pao in Hong Kong; the Board of Supervisors exercised effective supervision on fiscal affairs, internal control and connected transaction etc.; and the management, facing unfavorable market environment, worked hard to expand market, reduce cost, increase efficiency, consolidate resources and made good progress in production and operation.

In order to realize good performance in 2016, the management will step up research and analysis on operational efficiency in order to develop a reasonable production and operation plan; focus on improving business structure and asset allocation to increase quality and efficiency in operation; increase revenue and efficiency, reduce cost and expenditure and pursue a low-cost growth path through innovation in technology and management; control investment scale and improve its structure, keep to the right investment directions and strategic priorities and ensure stable growth; balance the operation of different business lines, remove bottlenecks and fully unleash the potentials of the whole company. (Rong Liming)