On June 11, Harbin Electric International (HEI) held a special promotion meeting on cost reduction and efficiency enhancement to comprehensively deploy the company's relevant initiatives, focusing on strengthening core functions and improving core competitiveness; Li Mo, Vice Chairman and General Manager of the company, presided over the meeting and delivered a speech, while members of the leadership team put forward specific work requirements in light of their respective assigned sectors.

The meeting emphasized the need to unify thinking, establish and improve management mechanisms, and strengthen total-staff, all-element, and full-lifecycle cost control; it also called for the deep application of next-generation information technologies such as big data, large models, and artificial intelligence, focusing on value creation and look-through supervision. Centered around the group company's "1461" cost management system, the company must adhere to the core philosophy that "all costs and expenses are controllable" and leverage digital and intelligent construction as a driver to promote the comprehensive upgrading of cost management. It is essential to establish a robust three-tier target system encompassing mechanism construction, culture cultivation, and value creation; cost-reduction and efficiency-enhancement projects should be classified into quantifiable-benefit categories and management-improvement categories for classified management, promoting a dual-wheel drive of "evaluation + incentive" to tangibly transform cost-reduction results into operational benefits. The philosophy of cost reduction must be truly integrated into daily management, guiding the general cadres and employees to establish a proactive cost awareness, thereby creating a favorable atmosphere where everyone cares about costs and everyone assumes responsibility.

The meeting required, firstly, to attach great importance and compact responsibilities, treating cost reduction and efficiency enhancement as a strategic task rather than a phased job, with leaders at all levels personally deploying resources to compact cost-reduction responsibilities down to departments and individuals; secondly, to strengthen cooperation and achieve effective synergy, with finance and business units linking closely together to penetrate cost responsibilities into each operational unit, forming a working synergy that collaborates horizontally and connects vertically; and thirdly, to advance in an orderly manner and seek practical results, strictly running operations in accordance with the processes and specifications prescribed in the plan, while promoting the solid implementation of cost-reduction and efficiency-enhancement projects to ensure that cost-reduction achievements are tangibly reflected in business indicators.

At the meeting, the Planning and Finance Department conveyed the spirit of the group company's conference on cost reduction and efficiency enhancement, and introduced the company's work plan for cost reduction and efficiency enhancement. The Saudi Arabia Rumah 2 Project Department and the Saudi Arabia Nairyah 2 Project Department shared their experiences around the theme of the meeting.

The main responsible personnel of all departments attended the meeting.