In the New Normal of Chinese economy, the industry situation and business competition were more complicated. Only deepening and optimizing the innovation and transformation continuously can the Group maintain the evergreen foundation. During the year, the Group’s system and mechanism were optimized continuously, the independent operation model was implemented in depth, and a series of strategic transformation initiatives came into force successively. Thus the overall framework of “Four beams and Eight columns” for the transformation were initially set up, the consciousness and philosophy of transformation and innovation have been gaining increasing popularity, the enthusiasm of innovation and entrepreneurship of the staff have been fully stimulated, and a solid foundation for sustainable and high-quality development have been laid.

After thirty-two years of progress, Tianneng Power has has acheived more comprehensive strength and a competitive edge encompassing management, technology and branding. It has also built up a team of high quality core staff with a strong professional work style implementation capability, which is critical to adapt to the “new normal” phase of the economy and the changing reform requirements as well as winning against new market competition.

2018 is the first year of the Group’s further transformation, and the endeavor year to achieve high quality and sustainable development. The Group will adhere to the stable progress as the overall tone, the quality and efficiency as the focus, and the innovation and transformation as the cardinal line. It will always follow the problems and let the results speak for themselves. Also it will insist on using new technologies, formats and models to vigorously transform and upgrade traditional industries and lay a solid foundation for development to make emerging industrial clusters bigger and stronger, as well as develop and enlarge the new growth drivers. The Group will strengthen the creating of an innovative enterprise, grasp the trend of the world’s new round of scientific and technological revolution and industrial transformation, and further implement the innovation-driven strategy to constantly enhance the economic innovation and competitiveness; Also, it will strengthen the construction of enterprise innovation system and the basic research and application technology research to accelerate the transformation and application of innovative achievements; The Group will strengthen the implementation and improvement of innovation and incentive system and mechanism, reform the remuneration management system, and further promote the change of performance evaluation from process-oriented to result- oriented. Being determined and innovative all along, the Group will endeavor to build a beautiful new Tianneng with sufficient innovation vitality, excellent quality and efficiency, high sustainable level and comprehensive competitiveness.

I am convinced that, driven by the mission of “New Energy New World”, the Group will remain true to our original aspiration, keep our mission firmly in mind, deeply conduct transformation to accumulate new growth drivers and continue to bring better returns to its Shareholders.

I would like to take this opportunity to extend my sincere gratitude to all the employees of the Group for their contribution and hard work and to the Shareholders and business partners for their full support.

Zhang Tianren