On 24 March
, the 16th meeting of the 8th Session of Board was convened to deliberate and approve 2016 Annual Financial Report, 2016 Annual Report and other proposals. Hosted by Chairman Zou Lei, all directors attended the meeting, of which one attended by proxy, with all members of the Supervisory Committee attending as nonvoting delegates.

Confronting with grim situations home and abroad and through joint efforts from all the staff, the company accomplished in 2016 an annual production capacity of 29GW. Last year, reform and development was steadily forged ahead, each piece of work achieved phased results and operation objectives were kept in control by and large. However, affected by the tightening of market demand, wind power industrial restructuring, additional provision of depreciation generated by job cuts, and overcapacity and inventory cut, the company reported a loss in the annual announcement.

In 2016, the company maintained a sufficient backlog, featured by new validated orders of RMB 36.6 billion, of which the offshore amounting to RMB 3.7 billion. Up until the end of 2016, the backlog at hand reached RMB 100.7 billion. Contract execution generally satisfied our clients, with 74 thermal power units went through 168-hour trail operation and 34 wind power projects (altogether 1138 units) went beyond warranty period throughout the year. Brazil Jirau 22X75MW HPP, the world per unit capacity bulb type units, put across eventually; B&H Stanari TPP 350MW supercritical CFB boiler obtained PAC 45 days ahead of schedule. Research in dominated products yielded impressive results, with heat rate of renovated 600MW steam turbine under new through-flow technology attaining world advanced level. 1000MW class 630double reheat demonstration project completed technology review and 350MW air-cooled turbogenerator type tests accomplished. The development of steam generator of self-developed 3G nuclear power HRP1000 units finished and steam turbine and generator of HRP1000 and CAP1400 units were phased as planned. Governed in accordance with the law, strict management was steadily carried out within the company last year. Preliminary results were witnessed in cost savings with balances receivables and balance of stock declining remarkably. Cost savings from procurement progressed markedly with centralized procurement management platform launched and centralized procurement rate exceeding 80%. Reform is steadily promoted and pilot super-ministry system in marketing department successfully put through. Streamline operation is carried forward continuously by structural optimization and lean operation. Social responsibility management is further strengthened to upgrade capital operation of the company. A share purchasing capital of controlling shareholders is launched.

In 2017, by working to cut overcapacity, excess inventory, reduce costs, and restructure, the company will double efforts to shake off poverty and guarantee revitalization. The projected annual power generation output capacity in the coming year amounts to 28GW, so as to maintain a relative steady operating revenue, further cut costs and enhance efficiency, reverse the negative growth into profit and maintain healthy and sustainable development of the company.

The meeting also deliberated and approved unanimously 2016 Social Responsibility Report, 2016 Internal Control Assessment Report, 2016 Special Report on Deposit and Use of Financial Capital, Proposal on Change of Brazil Subsidiary Controlling Shareholder and Others, Proposal on Adjusting Organizational Structure of DEC Ltd., etc.

As required by corporate governance and for better decision making, the company also convened, on 23 March, three special meetings within the board of directors: Risk Management Committee, Audit and Review Committee, and Remuneration and Assessment Committee. The meetings respectively discussed and deliberated the above mentioned proposals and reported to the board of directors.

2016 Annual Report of the company is duly disclosed both in mainland China and Hong Kong on 35 March.

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