2017 Fourth Quarter Management Strategy Released

On Sep 29, the 2017 Fourth Quarter
Management Strategy Release Meeting was held at SWS. SWS Top Executives were
present together with related management personnel from SWS, SCH and SWS

At the meeting, related SWS Top Executives
and managerial departments gave an overall review of the work during the past
three quarters. Focusing on annual target indicators and key management work,
they concluded the existing problems in business and production currently and
gave the priority to the release of the Fourth Quarter Management Strategy.

SWS President Mr. Sheng Jigang pointed out
that SWS had made a good performance at business and production during the past
three quarters. On the aspect of business orders, SWS has already finished the
annual target in advance and ranks top 4 in the world by deadweight. On the
aspect of production, the total deadweight of delivered vessels ranks top 2 in
the world. During the fourth quarter, SWS will strictly comply with the work
requirement from CSSC annual work meeting, put emphasis on completing the
annual delivery target, and stick to the annual delivery target unremittingly.
SWS will also balance the production plan; push forward every work smoothly in
order while focusing on the prototype ships of VLOC, 20000/21000TEU Container Vessels.
SWS will take cost control as the starting point, carefully analyze the
composition of each cost, find out the weakness of cost management, strength
the cost process control, get the cost control work of new orders well done,
and try best to improve economic benefit. Meanwhile, SWS will carefully plan
the annual management policy, target indicators and key management work in 2018.


Chairman of SWS Board of Directors Mr. Wang
Qi expressed in his talk that every management work of SWS was in smooth
condition and good order now; the production and orders have already basically
met the company¡¯s demand; the effort to reduce cost, improve benefit, downsize scale
and streamline organization has been paid off. All these provided a solid
support for promoting SWS going forward with light burden next year. Our three
shipbuilding indicators keep ranking among the top of the world that proves the
leading role SWS plays in the shipbuilding industry. He put forward the
following four requirements in the fourth quarter. Firstly, he required the
company to strengthen the safety management and implementation so as to ensure
a controllable safety situation of the whole year. Secondly, he required the
company to innovate the way of talent training, to take full advantages of the
university-enterprise cooperation and postgraduate workstation, and to continuously
expand our talent pool. Thirdly, he required to stabilize the production
rhythm, to put VLOC and ULCV above everything else, and to strengthen the
implementation. Fourthly, he urged the company to deepen cost control, to sort
out the cost system, to establish cost mechanism, and to carry the cost control
work forward unswervingly.  Wang Qi also
stressed that all levels of managers need to ceaselessly enhance their own
sense of responsibility and mission, get ready to greet the successful opening
of the 19
th CPC Party National Congress with a good spiritual
outlook and outstanding work performance.


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