On August 10th, Chi Mingjie, a member of the Standing Committee of the Party Committee and Deputy General Manager, visited Transportation Group to supervise and investigate the governance work of loss making enterprises.

The relevant person in charge of Transportation Group introduced the overall business situation, the progress of loss control work, and the next steps of work measures. Under the strong leadership of the new party committee, Transportation Group, guided by party building, adheres to "strong internal management and expanding the market", and vigorously promotes the governance of loss making enterprises. We have established a leadership group for managing losses, led by the Secretary of the Company's Party Committee, to unify our thinking, improve our position, and further strengthen the responsibility mechanism for responsible persons in loss-making enterprises. According to the work philosophy of "appropriate reform, appropriate governance, and appropriate retirement", classified governance will be carried out, with a focus on accelerating the progress of governance for loss-making enterprises. We will solidly promote the development of major industries such as passenger transportation and logistics, and strengthen internal control within enterprises. Starting to carry out internal integration and three system reforms, further compressing management levels, blocking leakage, and continuously improving the quality of group control and operational efficiency. As of the end of July this year, the accumulated losses of the group's loss-making enterprises have decreased by 30% year-on-year. In 2022, four loss-making enterprises have achieved a turnaround from losses to profits.

The research team pointed out that carrying out governance work for loss-making enterprises is a political task deployed by the provincial party committee and government, and an urgent requirement for high-quality development of enterprises. We should attach great importance to the governance of loss-making enterprises, adhere to the principle of governing enterprises in a scientific and reasonable manner, formulate plans, clarify goals and responsibilities, and strengthen supervision and guidance. Both loss management and loss control should be balanced, adhering to the combination of loss management with deepening reform and improvement, transformation and development, and risk control. It is necessary to gather wisdom and strength, eliminate obstacles and difficulties, and ensure the completion of annual target tasks.