China Poly Group Corporation's 16th working conference and the 14th party-building conference were held in Beijing from January 8th to 9th. Mr. HE- Jiacheng, Chairman of Board of Supervisor, attended the conference and made a speech. The other attendees were the top management of Poly Group Corporation, the chief directors of functional departments, the top management of subsidiaries included Poly Technologies Inc., Poly Southern Group Corporation, Poly (Hong Kong) Investments Limited, Poly Culture and Arts Co., Poly Finance Co. Ltd, New Poly Plaza Co.Ltd., Poly Real Estate Group Co., Ltd., and Poly Property Co., Ltd., the executives of Poly Energies Holding Co., Ltd., Beijing Poly Theatre Management Co., Ltd., and some project companies. Representatives of staffs and members of Board of Supervisors also attended the conference. The president, Mr. CHENG Hongsheng, and the General Secretary, Mr. HE Ping delivered the Working Report and the Party-Building Report separately, which summarized the achievement and experience in corporate governance and administration as well as party-building in 2008, analyzed the existing problems, gave guideline and targets for 2009 and set up the development direction of confidence consolidation, practical working and keeping a steady and high-speed development for the group corporation. Mr. XIA Zhiliang, the Chief Director of General Affairs Department, on behalf of the functional departments of the group corporation, made a speech on how to provide better services and supports to the development of the enterprises. The subsidiary enterprises also delivered working reports of 2008 and working plan for 2009. The project companies shared their experiences of project development and management under current market situation. The Party-Building conference also gave awards to Outstanding Staff Members of Poly Group in 2008. It was acknowledged in the conference that in the year of 2008, facing great challenge and tests from once in a lifetime natural disaster and global finance crisis, under the correct leadership of SASAC, the Board of Supervisors, the Party Committee , the Board of Directors and the Managing team of Poly Group , directed by Deng Xiao-ping Theory and the important thought of the “Three Represents”, and by fully implementing the Scientific Development Concept and all decisions and instructions by the central government and SASAC, with sound and prudent analyses of and reaction to the market situation, Poly Group adjusted management strategy timely, adopted bold and resolute measures. With unity and best endeavor, Poly Group has achieved success in continuous enhancing of profitability of its main industry and keeping steady and relatively high-speed over-all development momentum. The initial statistics shows that the total assets of the Group increases 28.4%, net assets 13.3%, and annual total profit 28.8% year on year respectively. Annual total profit boasted a two digital growth for the eighth year in a row. The Group was lists 36th among all the enterprises directly supervised by the central government with 8 positions up from 2007. Business turn- over increased by 66.8% year on year with total annual tax payment reaching 3.4 billion Yuan. Guideline and instructions for works in 2009 were delivered in the working conference. It was pointed out amid the more complicated economic situation of this year, we should consider the difficulties more fully and the policies as well as the measures more carefully, firm our confidence, seize the opportunity, be bold in taking responsibilities, make concerted efforts so as to tide over the financial crisis. The general guidelines of this-year business operations is : directed by Deng Xiao-ping Theory and the important thought of the Three Represents, studying and fully implementing the Scientific Development Concept, all instructions by the 17th CCPC, the spirit of the Central Economic Work Conference and all administrative decisions by SASAC, firming our confidence, beefing up corporate strength , enhancing risk management, working diligently and practically, persisting in expanding and strengthening main business, concentrating on economic returns, bring into play the listed companies to speed up capital operation and financing; implementing intensive and specialized management, strengthening internal control and keeping steady and relatively high-speed development. Operation targets were given during the conference, as well as the goal of making continuous efforts to be ranked into the first group of the enterprises under direct administration and supervision of the central government in term of assets scale on the premise of preventing risks efficiently, which means another great-leap-forward for the Group after 2007. Chairman of Board of Supervisors, Mr. HE Jiacheng, stated in his important speech: the working report is well grounded and reflects the true business situation of Poly Group, and is in line with the guideline of the Central Government. It not only recognizes the achievements but also bring to attention problems. It is an encouraging report with clear orientation and targets for the next step. In 2008, the top management led the Group to attain great success and practical achievement in reform and development, mechanism innovation, operation and management, party-building, earthquake relief and Olympics supporting etc.. Remarkable achievement has also been gained for the four main businesses sectors. From which lots of experience should be summarized. It is most worth noting that the total profit increased 30% year on year against the situation of a-30%-decrease of average total profit for all enterprises directly administrated and supervised by the central government, the ranking of Poly was lifted from the 44th up to the 36th. This is hard won success. Real Estate enterprises were hit the hardest by the financial crisis, so it is of big significance that sales volume of Poly real estate surpassed 20 billion Yuan against the market situation. After analyzing this year’s economic situation, Chairman HE pointed out that this year is the most difficult one since the new century began, but the financial crisis steming from US provides us with great chance while taking a toll on the world economy, we believe that Poly can achieve greater success. Chairman of Board of Directors, Mr. HE Ping, pointed out in his speech: this is a successful meeting. The working report is in accordance with facts based on sufficient research and analysis, and fully summarize works of 2008 and provides guideline and instructions for 2009. In 2008, the Group Corporation successfully supported development of the main businesses with proper direction and effective measures. The Poly Real Estate Group Co. Ltd., achieved good performance and maintained keep steady growth for of the listed company amid difficult situation. This hard won success is attributed to combined efforts of the whole Group. Currently, the main businesses of the Group have become more and more mature with centralized management and economics of scales being achieved, effectively supported and improved the “4-wheel drive” strategy. In 2009, the Poly Group will enhance specialized guideline to the subsidiary enterprises, especially in the field of real estate business which shall further implement specialized instructions, carefully undertake whole procedure management and ensure better development. The functional departments of the Group shall make greater efforts to think out solutions for the development and provide better service and support for the subsidiaries in terms of human resources, logistics and financing. The training of managers and executives at various levels shall also be planed carefully in order to improve their overall quality and reserve talents for the future development. He also pointed out that all levels of the Group shall further define business targets, consolidate the confidence and make great efforts to realize better achievement in all aspects.