SINOTRUK holds 1st board meeting in 2013

On March 26, the 1st board meeting of SINOTRUK (Hong Kong) Limited in 2013 was held in Jinan. Chairman Ma Chunji presided over the meeting and all the 17 directors (including two who entrusted others to attend for certain reasons and four who attended over the telephone) were present, meeting the legal requirement for the number of attendees. Also present was a lawyer with the law firm retained by the company.

All the directors unanimously adopted 16 reports and proposals, including the business work report, the financial work report, the annual report for 2012 and the dividend proposal for 2012.

With focus on the company's business work report and financial work report, the directors had a heated discussion and addressed inquiries about common concerns such as product development, quality control, marketing service measures and market share. Executive Director & President Cai Dong and Executive Director & Financial Controller Kong Xiangquan gave replies and made explanations in regard to the directors' inquiries.

The directors agreed that in the face of the severe domestic and overseas economic situation in 2012, SINOTRUK persisted in scientific development, unswervingly implemented the great project of "second business startup", transformed the mode, adjusted the restructure and made commendable achievements amid the overall loss of the industry. For example, the company yielded benefits far above the industry level and increased the market share slightly, the positive market effect of quality increase appeared, the company's overall management became more scientific and effective, and the MAN project progressed smoothly. They agreed to the company's decision to slow down scale development and further increase quality and benefit solidly. The market situation is not optimistic in 2013, they noted, advising the company's management to renew efforts in quality increase and sales network and team building, further develop the international market on the basis of the existing markets, intensify information acquisition, adequately study and apply relevant state policies, and strengthen internal management to bring enterprise management to a new level. Also, they made useful proposals on North China's haze, the company's work on energy conservation and emission reduction, further developing natural gas products and intensifying the R & D of products up to national emission standards.

In a concluding speech, Ma said the meeting was successfully, raising concrete requirements to the company's management and the directors.