On January 18, SGE Convened the 2nd meeting of 3rd Board of Directors, the meeting was presided by the Chairman Mr. Gao Xiaorong. Vice Chairman Mr. Haukur Hardarson, Directors including Mr. Liu Jian, Ms. Zhao Xin, Mr. Xu Qingchun, and Mr. CHAN Sian Chuan Jason, as well as Supervisors including Ms. Xu Wen and Mr. Fan Zhirong (via video) attended the meeting.
The meeting reviewed reports on the company’s overall work and approved proposals such as 2023 work report and 2024 work plan, geothermal assets integration, establishing international business department, etc.
The meeting noted that in 2023, under the strong leadership of the shareholders and the Board of Directors, SGE achieved historic milestones, achieved annual revenue of RMB 1.217 bn and a total profit of RMB 143 mm, fully completed the tasks and targets set by the Board.
Mr. Gao emphasized that 2024 is a pivotal year for SGE as it will embark on international businesses and high-quality development. SGE will refine industrial layout and strategically plan for the remaining two years of the 14th Five-Year Plan and the upcoming 15th Five-Year Plan. SGE will focus on key areas, increase efforts in developing new technologies and business areas, leverage the international resources of both shareholders to accelerate the exploration of international business. SGE aims to break into key markets in cities such as Beijing, Tianjin, Shijiazhuang, and Xi’an, and complete the restructuring and integration of geothermal assets.
Mr. Hardarson emphasized that despite a complex and changing external environment, the JV has made remarkable progress and achieved all annual targets. Arctic Green is confident about the future development of the JV and China’s geothermal business, and hopes that the JV will seize opportunities, accelerate international market expansion, and make all necessary preparations for the company’s IPO to promote higher quality development.
Executives and relevant department heads SGE attended the meeting.