August 20 

Headquarters in Shanghai 

The opening meeting of Shuanglin Group Financial Sharing Project was successfully held, and attended by Gao Zhisheng, INSPUR's general manager, Manufacturing Industry Division, Shi Min, deputy general manager and financial director, Chen Youfu, deputy general manager of Shuanglin, all general managers of each divisions, responsible persons of various functional departments and all members of the project team. The meeting was presided over by Ge Weijun, deputy finance director.

At the opening meeting, the project director Ge Weijun and INSPUR's project manager Sun Zhen briefed their project team members, responsibilities and related information of projects respectively. Shuanglin Group Financial Sharing Project focuses on the standardized and normalized financial activities of all subordinate companies of the Group, including the process reengineering of receivables, payables, general ledger, expenses, taxes and assets for centralized processing, so as to reduce costs and improve efficiency.

This project is divided into two stages: management consulting and system construction:

• Plan to complete management consulting in the first phase by the end of this year;

• Complete system construction and sharing business transfer between two batches of subsidiaries in the second phase by October 2019. Additionally, conduct training of internally shared talents; since the beginning of 2020, Shuanglin will independently realize the transfer of shared business among the remaining subsidiaries.

Deputy head of shared project leading group, Manager Shi, summarizes the significance of the Financial Shared Project construction vertically and horizontally, points out that with the continuous improvement of SAP and the establishment of the sharing center, the financial center will constantly strengthen the financial control of subsidiaries vertically, continuously integrate with business horizontally and realize the integration of industry and finance, so as to better support the Group's management decisions and serve the operating units.

Meanwhile, she represented the company and required various divisions and functional departments, standing in "the height to improve the overall interests and efficiency of the company", and "based on the perspectives of strengthening internal control and guarding against business risks", to participate in and actively cooperate with the construction of sharing financial center, carry out responsibilities, contribute ideas and exert efforts, so as to promote the blueprint design, platform construction and implementation of Financial Sharing Project, realize the business and finance integration of Shuanglin Group, effectively control data distortion risk, and enhance the level of the lean management for creating greater value for the company.

Wu Jianbin, the company's chairman, also attached great importance to the construction of the Financial Sharing Project and listened to the overall plan and arrangement of the Project before the project started. General manager Gu Xiaoying is the leader of the project leading group.