Corporate culture of China Resources (Group) Co., Ltd.

Be honest and trustworthy. Honesty and trustworthiness are China Resources' core values, the cornerstone of China Resources' culture, the lofty quality of China Resources people, and the foundation of China Resources' business. China Resources advocates a comprehensive concept of integrity, with integrity to shareholders, customers, employees and society.

Performance-oriented. Adhere to the value of performance first, pursue balanced, comprehensive, and high-quality performance, and advocate that "a business without growth is not a good business, and a team without performance is not a good team."

Customer first. Carefully safeguard the rights and interests of customers and consumers, strictly abide by business ethics, engage in fair competition, strive to provide better quality, more environmentally friendly, and more humane products and services, and constantly exceed user expectations.

Thanksgiving in return. Always with a grateful heart, we regard the fulfillment of social responsibilities as a "pursuit beyond profits" and strive to create an excellent corporate image of "investors' trust, employee love, social respect and public praise", and become a model for enterprises in the whole society. In 1938, in order to unite democrats in Hong Kong and overseas who supported the Anti-Japanese War, accept and keep anti-Japanese donations and materials from all walks of life, and purchase military supplies and medicines for the anti-Japanese base areas, under the leadership of the older generation of proletarian revolutionaries Zhou Enlai and Chen Yun, the predecessor of China Resources "United Liow & Co. was established in Hong Kong by its founder Yang Lianan (brother of Bogu, the founder of the Communist Party).

In 1948, Lianhe Bank was reorganized and expanded and renamed "China Resources Company". "Hua" represents China, and "Run" is taken from Mao Zedong's word "Run", which contains the beautiful meaning of "the land of China is nourished by rain and dew". Qian Zhiguang serves as the first chairman.

Made unique contributions to the founding of New China. China Resources did everything possible to break through the blockade, purchase and transport urgently needed supplies to the mainland, and effectively supported the three major battles, the cross-river battle, and the liberation of China.

1948 to 1949

After going through hardships and dangers, China Resources secretly transported 358 famous democrats, 765 cultural celebrities and patriotic overseas Chinese from Hong Kong to the Northeast Liberated Areas in four batches, ensuring that the new The first session of the Chinese People's Political Consultative Conference was successfully held. From 1952 to the mid-1980s

China Resources has been the general agent of China Import and Export Trading Corporation in Hong Kong, Macao and Southeast Asia, ensuring supply to the Hong Kong market, assisting the mainland in formulating export plans to Hong Kong and overseas, expanding exports, connecting supply sources and Establishing a sales network, strengthening trade ties with countries around the world, importing goods needed by the mainland, and earning foreign exchange have made important contributions to China's foreign trade in the era of planned economy.

In 1957

China Resources initiated and organized the first China Export Commodities Exhibition, which kicked off the "Canton Fair".

In 1962

Ng Fung Hong, a subsidiary of China Resources, undertook the operation of the "three express trains" for fresh frozen food from the mainland to Hong Kong, ensuring Hong Kong's food supply.

In the early 1970s

China Resources helped import domestically produced oil from the mainland into Hong Kong, effectively easing the Hong Kong oil crisis.

In 1978

China Resources pioneered the "three to one supplement" model and vigorously promoted it, marking the beginning of the transfer of Hong Kong's manufacturing industry to the mainland. In the 1980s

China Resources transformed from agency trade to self-operated trade, and strived to develop medium and long-term investment projects, focusing on investment in retail, real estate, electricity, infrastructure and other fields. The projects gradually became larger and more specialized, providing It has laid the foundation for becoming one of the most powerful diversified enterprises in Hong Kong and mainland China today.

In 1983

China Resources Building was completed, and China Resources Corporation was reorganized into China Resources (Group) Co., Ltd. and began to establish a modern enterprise system. In 1992, China Resources Group injected capital into the listed company Yongdali and changed its name to "China Resources Enterprise". It became the first listed company of the China Resources Group and pioneered the entry of Chinese-funded enterprises into the capital market.

Mid-to-late 1990s

In the mid-to-late 1990s, China Resources' Ng Fung Hong, Beijing China Resources Land, and Lizhi International were successfully listed on the stock market. China Resources also actively contacted international capital. The development stage of using the capital market to grow enterprises has officially begun.

China Resources has entered the mainland and has successfully established a number of industry-leading main businesses through mergers and acquisitions, industrial cultivation, transformation of state-owned enterprises, business innovation, management innovation, creation of differentiated business models, and realization of headquarters value creation.

From 2001 to 2009

China Resources has completed two grand strategic goals of "rebuilding China Resources", and the company's asset size and efficiency have quadrupled compared with 2001. China Resources has maintained rapid growth for 10 consecutive years, made great progress in business transformation, management reform, organizational development, cultural construction and other aspects, and its comprehensive competitiveness has been greatly enhanced.

Among them, in 2007, China Resources Group's turnover reached HK$115 billion, and its total assets reached HK$244.4 billion.

2010 to 2011

In 2010, China Resources Group’s turnover was HK$218.4 billion, total profit was HK$29.8 billion, and total assets were HK$585.9 billion.

In 2011, China Resources Group’s turnover was HK$336.5 billion, total profit was HK$35.8 billion, and total assets were HK$764.4 billion.

2013

On May 6, 2013, China Resources Power and China Resources Gas announced that they were in the process of merging to form a unified energy group with a total market value of over US$20 billion. negotiation.

Analysts from China Industry Insight Network believe that the integration of China Resources' two subsidiaries may indicate that the group's development focus has shifted from thermal power to gas power. However, the short-term synergies after the merger are limited, and the mid- and long-term competitiveness will be significantly improved, which will help It competes with city gas giants such as the "Two Barrels of Oil" gas company. On May 6, 2013, China Resources Power and China Resources Gas, both listed in Hong Kong, were suspended from trading before the market opened. They issued a joint announcement stating that the two companies would build a unified energy group under China Resources Group and continue to be listed on the Hong Kong Stock Exchange. .

China Resources Power had a market value of HK$121.2 billion (US$15.6 billion) in 2013, and China Resources Gas had a market value of HK$48.6 billion. After the successful merger of the two companies, the market value of New Energy Group will be approximately HK$170 billion. It will not only become The largest listed company within the China Resources Group, its scale will exceed that of Kunlun Energy, a subsidiary of China National Petroleum Corporation.

China Resources Power will become the listing platform of the merged energy group, while China Resources Gas will be delisted, and the two may merge through a share exchange. Based on Friday's stock price calculation, China Resources Power needs to issue an additional 40 new shares to make the acquisition.

Data show that since China Resources Gas was listed in 1994, its name and core business have changed drastically. In 2008, it divested its compressor and semiconductor businesses, officially entered the pipeline gas industry, and changed its name to China Resources Gas. . As of 2013, China Resources Gas has gas projects in 151 cities across the country, with total annual gas sales of 9.3 billion cubic meters and 14.03 million residential users, making it one of the five largest city gas giants in my country.

China Resources Power is the flagship power generation company of China Resources Group. Its business covers thermal power, wind power, hydropower, coal and distributed energy projects. As of the end of 2012, it manages and owns 70 power plants with an operating equity installed capacity of 2527.1 Thousands of watts.