On June 9, SEP held the kick-off meeting on the construction of internal control compliance system in 2017. President Wang Huaiming attended the meeting, which was presided over by CFO Chen Wenhao.

At the meeting, Audit and Internal Control Department delivered a report on the scheme of internal control compliance system construction. Wang Huaiming listened to the report and gave a mobilization speech. He stressed the importance and necessity of internal control compliance system construction from the aspects of running enterprise according to law, multinational operation need, cultivation and protection of senior executives. He noted that the key points of constructing internal control compliance system with high standards lay in applying lean management methods, focusing on critical areas, emphasizing on business process optimization, and timely acceptance and summarization.

Meanwhile, Wang Huaiming put forward a few requirements as follows: first, strengthen organization and leadership, and related leaders shall take command personally, establish professional work team, include the system construction in the annual key tasks, and make sure to complete this task; second, enhance planning and coordination, gather the work force of system construction, and related departments shall form a regular coordination and supervision mechanism, oversee the completion of key milestones in a timely manner in order to ensure coordinated promotion; third, reinforce publicity and training, beef up the awareness of all staff on internal control compliance constantly, and promote in-depth dissemination of compliance culture vigorously; fourth, consolidate appraisal and assessment, bring the closed-cycle effect of management system into play, carry out, appraisal, review and supervision, in order to guarantee the completion of internal control compliance system as scheduled with high quality and standard. Wang called on the whole staff to make joint efforts to help SEP reach the leading level of internal control compliance ability in SPIC.

Chen Wenhao asked the company staff to implement the requirements raised by Wang, and make sure that the internal control compliance systems of various affiliated companies are completed and put into force by the year end, in order to lay a solid foundation for the continuous, healthy and stable development of the company.

The leaders and related personnel of all SEP departments attended the meeting and relevant knowledge training, while the main leaders of various affiliated companies participated in the meeting via videoconference.