To thoroughly implement the decision-making and deployment of the Party Central Committee and the State Council on deepening the reform of state-owned enterprises, improve the classification and hierarchical management system for leadership of state-owned enterprises, and actively fulfill the spirit of the Three-Year Action Plan for the Reform of State-owned Enterprises, China Haisum Engineering Co., Ltd. held the signing ceremony for tenure system and management by contract of management members in Guangzhou on October 29. This action further clarified the company's management members' term of office and business development responsibilities, ensured that leaders at all levels shall perform their duties in accordance with regulations to motivate the staff's entrepreneurial vitality and comprehensively open a new situation in the reform of the corporate personnel system.

The CPC Committee Secretary and Chairman of Haisum Zhao Guoang, CPC Committee Deputy Secretary and President Chen Rongrong and members of the team, heads of various departments at the headquarters, and heads of subsidiaries attended the signing ceremony.

The year 2021 is a critical year for promoting the three-year reform of state-owned enterprises. The tenure system and management by contract of management members are important tasks for deepening the reform of the three systems, and they are also the core tasks to be promoted in the three-year reform of state-owned enterprises. Since China Haisum attaches great importance to the tenure system and management by contract, relevant requirements of the State-owned Assets Supervision and Administration Commission and Poly Group on the three-year action for the reform of state-owned enterprises are being thoroughly implemented in line with the time nodes of SinoLight's reform and development tasks. A special leadership working group has been established and work plan and supporting system at the same level of China Haisum has been developed under the premise of fully considering the needs of the company's reform and development strategy so as to comprehensively promote the tenure system and management by contract of management members.

At the ceremony, on behalf of the board of directors, Zhao Guoang signed post appointment agreement and letter of responsibility for annual and tenure business performance with President Chen Rongrong, signed letter of commitment to office, letter of responsibility for annual and tenure business performance with Vice Chairman Xu Datong, and signed post appointment agreements with other management members and concluded letter of commitment with the chairman of the 11 subordinate units respectively. As the CPC Committee Secretary, Zhao signed a letter of commitment and a letter of responsibility for annual and term operating performance with Li Yimin, Secretary of the Disciplinary Committee. President Chen signed the annual and term business performance responsibility letter with other management members, and signed the annual business target responsibility letters with the chairman of the 11 subordinate units.

To ensure the smooth implementation of the tenure system and management by contract of management members, China Haisum has fully drawn on the experiences of the SASAC "Double Hundred Enterprises" in implementing the tenure system and management by contract of managers. The guiding opinions of the leading group have been fully considered in terms of the strategic needs of the company's reform and development to ensure strict implementation in line with the time nodes of SinoLight reform and development tasks.

By signing the contract, the appointment positions, appointment period and scope of responsibilities of the management members of China Haisum and its affiliated units have been clarified, and the annual and tenure business performance evaluation indicators, remuneration system, and exit mechanism have been agreed by contract to ensure "the promotion and demotion management" with rigid assessment for the flexibility of target performance.