On the morning of the specified date, Baowu held its third quarter work meeting and regular party construction meeting for the year, summarizing the execution of the company's work in the first three quarters, analyzing the current situation, solidifying target tasks, and arranging key tasks for the next stage. Hu Wangming, Secretary of the Party Committee and Chairman of Baowu, and Hou Angui, General Manager and Deputy Secretary of the Party Committee, attended the meeting and delivered speeches.

Hu Wangming emphasized five key points during the meeting.

2. Strive for the fourth quarter to ensure a successful closing of business operations and aim to achieve outstanding results in the performance evaluation by the State-owned Assets Supervision and Administration Commission. To ensure a successful closing of business operations and various tasks, the "pillar" and "keystone" must play a crucial role, maintaining the best industry performance. Enhance supervision over the "four essentials" and comprehensively deepen cost-accounting management. Leaders at all levels should continue to visit production sites and explore markets, continuously expanding market space. Increase efforts in controlling "two funds" and turning losses into profits. Continuously improve the group's prescribed bidding ratio. Bidding is an effective means to promote cost reduction and efficiency improvement, standardize procurement management, and strengthen integrity and anti-corruption efforts.

3. Adhere to the driving force of technological innovation, enhance the function of the original technology innovation source, and accelerate the development of new quality productive forces. It is important to finalize the annual R&D investment, with particular attention to the proportion of R&D investment in the development of new quality productive forces. The relevant departments of the group should actively create conditions to encourage subsidiaries to take the lead in developing new quality productive forces. Increase efforts to promote applied basic research and the tackling of key core technologies, deepen collaboration with high-level research institutions at home and abroad, and support breakthroughs in original and leading technologies.

4. Coordinate efforts to promote reform, prevent risks, foster synergy, and strengthen the system. Place greater emphasis on preventing and resolving major risks. Deepen reforms as a key measure to address the current严峻形势. Accelerate the development of integrated and synergistic operational capabilities for Baowu. Synergy is a crucial concept and value for Baowu, an important strategy, and a significant measure to navigate through cycles. Further leverage synergistic benefits to create value. Continuously extend management to new units, overseas units, and grassroots units.

5. High-quality and strict implementation of the comprehensive and strict governance of the Party. Efforts should be made to earnestly study and implement the spirit of the 20th Central Committee's Third Plenary Session. Consistently carry out the responsibilities of central inspection rectification, ensuring that the tasks of inspection rectification are fully and effectively completed. Complete the rectification and application of results from the first round of internal inspections within Baowu, and organize the second round of internal inspections. Conduct well the work in disciplines inspection, propaganda and ideological work, mass organizations, stability maintenance through letters and visits, and confidentiality.

Hu Wangming also made arrangements for the revision and improvement of the new strategic plan outline and international development outline of Baowu, the preparation of the annual business plan, and work related to production safety.

Hou Angui put forward specific requirements for the next stage of work. He demanded that all units go all out to wrap up the year-end work and plan for the next year. It is essential to fully recognize the arduous tasks and challenges we currently face, clearly see the gaps, analyze problems realistically, and strive to complete the year-end wrap-up work. At the same time, it is crucial to focus on analyzing the current situation, planning the key tasks for the next year, further implementing the "four modernizations" and "four capabilities," deepening the practice of accounting for operations, and improving operational performance. In the current market situation, users have raised higher requirements for product quality and supply chain stability. It is necessary to focus on core key indicators, strengthen the production, sales, and research teams, enhance headquarters coordination, and vigorously promote product management. We need to shift our thinking and advance centralized manufacturing. It is important to strengthen project management throughout the entire process and firmly control investment risks. Continuous efforts should be made to deepen integration and collaboration, which should be built as a core capability. Relevant units should accelerate the advancement of related integration projects according to relevant decisions and arrangements, especially in marketing and logistics coordination, which should be addressed promptly.

Wang Xuxian, Deputy Secretary of the Party Committee of Baowu, and Gao Jianbing, Wang Jiming, and Fei Peng, Members of the Party Committee and Deputy General Managers of Baowu, attended the meeting. Zhu Yonghong, Member of the Party Committee, Chief Financial Officer, and Secretary of the Board of Directors of Baowu, presided over the meeting. External directors of the Group, Deng Jianling, Luo Jianchuan, Cheng Daoran, Hu Zhanghong, and Yang Ya, attended via video. The meeting was also attended by the General Manager Assistant, Chief Legal Advisor, Chairman of the Labor Union, heads of various business development departments, functional departments, Party and mass organizations, shared units at the Group headquarters, and heads of primary subsidiaries.