The Board Meeting Convened to Deliberate and Approve 2015 Annual Report and other Proposals

On 29 March, DEC Ltd. convened the 7th meeting of the 8th board of directors to discuss and approve unanimously 2015 Financial Report, 2015 Annual Report and others. Chairman Si Zefu presided over the meeting, with all members of the Supervisory Committee attending as nonvoting delegates.

While confronting with economic “New Normal” and grim competition in the power sector in the past year, the Company accomplished the annual output capacity of 28.17GW, outperforming the projected target and maintaining a stabilized corporate operation on the whole by unswervingly moving forward with “three shifts”, working in solidarity to overcome obstacles and pressing ahead with a pioneering spirit. The annual operating revenue reached RMB 36.018 billion, a YoY decrease of 7.73%; the profits attributable to the shareholders of the Company reached RMB 0.439 billion, a YoY decrease of 65.65%; EPS declined to RMB 0.19; core business consolidated gross margin reached 16.71%, a YoY increase of 0.12%. As to the profit distribution, the Company plans to distribute a cash dividend of RMB 0.6 per 10 shares (tax included).

In 2015, the company moved faster to exploit markets in and out of China, with annual newly-added orders of RMB 37 billion and a backlog of orders of RMB 118 billion by the end of the year. The international market is deepening exploited step by step and export orders signed in 2015 reached 1.4 billion US dollars. Banovici 350MW thermal power EPC contract, Sweden Blakein IV 22.5MW wind power equipment supply contract and the first 1000MW class thermal power boiler export contract further enhanced DEC’s capability to nail the European and Asian markets. In addition, the active participation in “Belt and Road” initiative reaped new benefits in the international markets, with EPC contract in Egypt and Turkey signed lately one after another.

Last year, the Company reinforced its management in finance and cost effectiveness, cutting down prominently annual costs and expenses; the centralized procurement by bidding raised substantially the tendering value; resource allocation was further improved by establishment of Dongfang Electric Wind Power Co., Ltd., whereby wind power business was specialized in operation and management; scientific scheduling, production and project management gained new momentum, enabling the Company to keep upgrading quality, improving performance and maintaining stable development. In the capital market, the Company strictly abide by rules and regulations set by CSRC, and won the A class Appraisal by Shanghai Stock Exchange in regards to information disclosure; the Company completed the general election of the 7th Board of directors and Supervisory board in accordance with the corporate governance; deliberately planed and accomplished the RMB 4 billion A debt-to-equity swap; the investor relations produced desirable results, and the Company won the title “Top 100 Most Adorable Public Listed Companies by the Investors ” for two years in a row, setting up favorable image in the capital market.

The meeting also unanimously approved 2015 Annual Social Responsibility Report, 2015 Internal Control Evaluation Report, 2015 Special Report upon Deposit and Usage of Raised Funds, Proposal upon Retroactive Adjustment of Opening Balance of 2015 Annual Financial Statement, Proposal upon Appointment of 2016 Accounting Firms, Proposal upon Registered Capital Increase in Huadian Longkou Wind Power Co., Ltd., Proposal upon Register Capital Increase in Sichuan Energy Industry Investment Group Wind Power Development Co., Ltd., Proposal upon the Establishment of Subsidiary in Brazil, Proposal upon the modification of working rules of Risk Management Committee of the Board, Proposal upon the convocation of 2015 Annual General Meeting of Shareholders, and others.

Pertinent to the requirement of Corporate governance and for better decision-making on major issues, the Company held three meetings with Risk Management Committee, Audit and Examination Committee, and Remuneration and Assessment Committee respectively on 28 March. Members of the said committees deliberated upon various issues mentioned above.

The company is scheduled to disclose the 2015 annual results simultaneously in mainland China and Hong Kong on 30 March 2016.

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