SSC Held 2020 Annual General Meeting of Shareholders

On June 18, SSC held the Annual General Meeting for 2020 and the First A Shareholders Class Meeting and the First H Shareholders Class Meeting for 2021 in Beijing. The meeting reviewed and approved a number of resolutions including the Report of the Board of the Directors of the Company, the Report of the Supervisory Committee of the Company, the audited financial statements and the auditor’s report of the Company for the year 2020. Mr. Chen Xikun, Chairman of the Board, presided over the meeting. Directors, supervisors, executives and departments heads of the company attended the meeting.

Facing the dual challenges of the COVID-19 epidemic and low oil prices in 2020, the company adhered to the concept of "serving customers, supporting oil and gas, leading technology and creating value", focusing on various tasks such as market expansion, profit creation, structure adjustment, reform promotion and risk prevention, Striving to tackle toughness and creating profits. In 2020, the company achieved an operating income of 68.07 billion yuan, a net profit of 79 million yuan and total newly signed contract valued 69.8 billion yuan, withstanding severe tests in special periods.

Looking forward to 2021, the company will base itself on the new development stage, implement the new development concept, focus on the new development pattern, deeply adhere to the development strategy of specialization, market-orientation, internationalization, high-end and characteristic development, promote reform and innovation, accelerate transformation and upgrading, and make every effort to build a technology-leading oilfield service company, and strive to start a new phase of high-quality development. The company will maintain an offensive posture, expand its development space, strengthen innovation drive, forge technological means, continue to reform and optimize to stimulate vitality, comprehensively strengthen management and fully improve development quality.

Information source: