From the New Starting Point to a Win-Win Bright Future

HRB MNFG Development Strategy Symposium & Joint-Investment Signing Ceremony held in Shanghai, China

On Aug.8, 2015, in Shanghai, China, Harbin Bearing Manufacturing Co., Ltd. (HRB MNFG ) Development Strategy Symposium & Joint-Investment Signing Ceremony was held. 

Present at this conference were Mr.HU Yafeng, deputy governor of Heilongjiang Province ；Mr.JIA Jiantao, deputy mayor of Harbin municipality； the leaders from Committee of Industry and Information Technology, Foreign and Overseas Chinese Affairs Office, State-Owned Assets Supervision and Administration Commission, Industrial Investment Corp., under Harbin municipality and Heilongjiang Province respectively；

Mr. Lawrence NG, president of Prince Fund Management Limited Mr. LI Junjie, executive director of Pinetree (Shanghai) Equity Investment and Management Co., Ltd；
 
Mr. PANG Jun, president of Harbin Bearing Group Corp.(HRB Group)； Ms. ZHU Xiuli, general manager of HRB Group； Mr. MA Pinghui and Mr. LU Yanxin, both deputy general managers.

General Manager of Harbin Industrial Investment Corp., Mr. BI Ming presided over the conference.

At the conference, Mr. LI Junjie delivered the report- the Reflections on the HRB MNFG Development Strategy Planning. He dealt with the four respects: development strategy, marketing strategy, adjustment of operation and management, and new economic growth areas, and explained the master plan for HRB MNFG. The signing of cooperation was jointly made by HRB Group, HRB MNFG, Pinetree (Shanghai) Equity Investment and Management Co., and Prince Fund Management Limited. For increasing the capital and enlarging the stock share, HRB MNFG is to receive the fund of 700 million yuan mainly from the Pinetree and Prince.

Mr.HU Yafeng at the conference pointed out that to make HRB bigger and stronger, we should act as required by the 13th and 14th national five-year plans, make innovation-driven development, and integrate HRB growth into the development strategy of regional economy, and into Made in China 2025.

Mr. JIA Jiantao at the ceremony indicated that HRB MNFG by the joint investment has made itself larger, exerted a deeper influence, and gained greater cooperation ；and that HRB has set an example for the development of and/or the introduction of a mixed economy into state-owned industrial enterprises in Harbin.

At the ceremony, director of Harbin State-Owned Assets Supervision and Administration Commission, Mr. MA Youwei hoped that from this new starting point, HRB Group and the fund companies should seize the opportunity of cooperation, accomplish more, draw on each other’s strengths, form synergy for the leaping development of HRB, change HRB from a production-oriented enterprise to a modern corporate enterprise focusing on marketing & service, and make HRB the pacesetter for the Chinese bearing industry.

Mr. PANG Jun at the conference made a speech. He stated that thanks to active support of the leaders at the higher levels, HRB and the two fund companies have through the efforts of 3 years worked out the master plan for HRB development, made a successful signing ceremony； that from today on, HRB by the master plan will be responsible for the interests of shareholders ；that HRB should work for the welfare of its employees； that HRB will fulfill its social obligations, and that HRB will strive to carry out its strategic goals, in accordance with the laws, the national development strategies, and the international rules.

Mr. Lawrence NG at the conference expressed that the advantage of HRB technology and brand should be exploited fully, and integrated with that of Financing and management on the part of the fund companies so as to make a brand-new, stronger HRB.

With the leaders from Heilongjiang province and Harbin municipality as the witnesses, amid warm applause the joint investment agreement was signed by Mr. PANG Jun，Ms.ZHU Xiuli, Mr. Mr. Lawrence NG, and Mr.LI Junjie.
After the signing ceremony, Mr. Ma Youwei, Mr.Bi Ming, Mr. Lawrence NG, Mr.LI Junjie, and Mr. PANG Jun gave an interview to the reporters from Xinhua News Agency, Heilongjiang Daily, Harbin Daily, and Harbin TV Station.