OREANDA-NEWS. August 12, 2013. The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) held a seminar for heads of central enterprises and local principals of SASAC, releasing the results of business performance assessment on leaders of central enterprises in the third tenure and in 2012.

Sinochem Group successfully passed through the assessment, and was rated as “Grade A Enterprise” in the third tenure of 2010-2012 and in the 2012 business performance, becoming one of the 12 central enterprises to achieve this rating for nine consecutive years since the first assessment of this kind conducted by the SASAC in 2004 and one of the 21 central enterprises rated as “Grade A Enterprise” for three consecutive tenures. Meanwhile, thanks to the excellent performance in the third tenure, Sinochem Group was awarded the special prize of “Excellent Performance Enterprise” by SASAC for the third times in succession.

Liu Deshu, President of Sinochem Group,  attended the meeting and received the prize on behalf of the Group. These honors represented the recognition of the superior supervision departments on the business performance of Sinochem Group, and the achievements made by Sinochemstaff with their sincere cooperation, entrepreneurship, hard work and pursuit of excellence.

In 2012, confronted with severe and complicated challenges from the external environment, Sinochem Group followed the requirement of “growing stronger and better, and cultivating world class enterprises with international competitiveness” set by SASAC, and strived to expand business, avoid risks, enhance management, push forward transformation, and maintain the stable and healthy development trend. In 2012, Sinochem Group realized operating revenue of RMB453.2 billion, and total profits of RMB10.7 billion, with total assets worth of RMB286.6 billion. Itkept enhancing its comprehensive strength and competitiveness, and made positive contributions to preserving and increasing the value of state-owned assets.

As a comprehensive trans-national enterprise involved in market competition, Sinochem Group has been carrying forward the strategic transformation and management reform over the years, and elaborately fostering industrial chain for its main business. Now, the business pattern of limited pluralism is formed for mutual support and balanced development, enhancing the stability and continuity of the Group’s whole profits.

Since 2013, faced with  negative factors such as plummeted price of commodities and insufficient demands of the market, Sinochem Group has unswervingly pushed forward the strategic transformation, and actively adopted measures to eliminate the adverse effects and enhance risk management.

With such efforts, Sinochem Group managed to maintain a safe and stable operation of its business, with the scheduled target of business performance achieved in the five major business sectors, namely, energy, agriculture, chemical industry, real-estate industry and financial industry. In the future, Sinochem Group will keep on adhering to the path of new state-owned enterprise involving in fair competition on the market, sticking to the keynote of making progress while maintaining stability, assuming social responsibilities as an enterprise citizen, and striving to push forward the  “Third Long March”, so as to appreciate its own value constantly while creating values for the nation, society and its clients.