Hunan Xiangtou Jinting Technology's corporate governance experience recommended by the Provincial SASAC

Published Time:

2024-11-01

Recently, the Hunan Provincial State-owned Assets Supervision and Administration Commission issued the "Compilation of Exemplary Cases of Improving Corporate Governance in State-owned Enterprises in Hunan Province." Hunan Xiangtou Jinting Technology Group Co., Ltd. (hereinafter referred to as "Xiangtou Jinting Technology"), a subsidiary of the group, successfully included its case study, "Adhering to Party Leadership and Integration to Empower, Integrating Party Leadership into the Entire Process of Technological Innovation," as an advanced experience in "Strengthening Party Leadership," which will be promoted throughout the province's state-owned enterprises.

In recent years, the Party Committee of Xiangtou Jinting Technology Group has adhered to Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as its guidance, fully implemented the principle of "two unwavering commitments," continuously improved corporate governance, used "Party Building Red" to lead "Technology Blue," and transformed the "soft power" of Party building into the "strong driving force" of technology, achieving a leap from following, to catching up, to leading the way in several core technologies. From 2022 to 2023, the company's operating revenue and total profit increased by an average of 45.01% and 15.78% respectively. In the first three quarters of this year, the company's operating revenue increased by 100 million yuan year-on-year, and the total profit increased by 15.63% year-on-year.

Shouldering Missions and Responsibilities, and Strengthening Innovation Layout with "Gatekeeping and Direction Setting" The company's Party committee bravely shoulders the mission of "serving national strategies, fulfilling the responsibilities of state-owned enterprises, and building a world-class enterprise." It firmly grasps the direction of technological innovation, focuses on national strategic needs such as military-civilian integration, a strong maritime country, and nuclear power and new energy, and actively provides key titanium materials for the country's high-end equipment manufacturing and strategic emerging industries. The company has become one of the core suppliers of high-end titanium alloys for strategic equipment in China. It fulfills its responsibilities as a state-owned enterprise, striving to become the "source" of common technologies and the "source" of leading-edge technologies in the titanium industry, fully leveraging the leading and driving role of state-owned enterprises in technological innovation. In building a world-class enterprise, it promotes the development of "domestic and international" dual-circulation markets through a virtuous cycle of "technological innovation + market application," continuously expanding the company's share in the global market.

Focusing on Party Building Empowerment, and Strengthening "Deep Integration" to Stimulate Innovation Momentum Adhering to the work approach of "focusing on Party building around technology, and promoting technology through Party building," it uses Party building to enhance the effectiveness of technological innovation. It has launched in-depth "Secretary Links to Projects" and "Secretary Tackles Difficulties" activities, promoting high-level core technological breakthroughs, and accelerating the transformation of scientific and technological achievements. It has established a Party member's technological innovation vanguard post, promoting the formation of a "flying formation" and giving full play to the exemplary role of Party members. It has deeply promoted the construction of "Party cells + R&D groups," selecting "elite troops," forming several "breakthrough units," and concentrating efforts on solving "bottleneck" problems. The company has obtained 114 national invention patents, taken the lead in or participated in the formulation or revision of 49 standards, and possesses 3 national-level and 10 provincial-level innovation platforms.

Persisting in Top-Level Efforts, and Exploring "Two-Way Cultivation" to Forge an Innovation Team Adhering to the Party's management, development, and gathering of talents, and adhering to the core team's "two-way cultivation" model of "cultivating Party members into backbones, and cultivating backbones into Party members," it strengthens the construction of "three teams of talents." It adopts a "flexible talent introduction" approach to introduce a group of experts and scholars from universities such as the Chinese Academy of Sciences, Harbin Institute of Technology, and University of Science and Technology Beijing to serve as external directors and rotating chief engineers for its subsidiaries. It has built a "production, education, and research" talent joint training mechanism, forging and accumulating a group of core technical teams and excellent entrepreneurial teams. It has extensively carried out "master-apprentice" activities, cultivating a group of industrial skilled talents.

Persisting in Multiple Measures to Safeguard "Scientific and Technological Reform Demonstration" and Improve Innovation Mechanisms It adheres to the Party's leadership in coordinating the work of technical and skilled personnel, to encourage and empower technical and skilled personnel. It continuously optimizes technological innovation mechanisms, and promulgates the "Implementation Rules for Innovation and Entrepreneurship Incentives" and the "Management Measures for Scientific Research Projects using the "Calling for Bids and Appointing Commanders" Approach," which encourages technical and skilled personnel to boldly innovate and work hard. It adopts the form of equity incentives for science and technology enterprises to carry out long-term incentives, realizing the strategic "bundling" of core technical backbones with the development of the enterprise. It cares for technical and skilled personnel, continuously enhancing their sense of pride, gain, and accomplishment. The company has been rated as a "benchmark" level of national scientific and technological reform demonstration enterprises for two consecutive years, and owns 2 national-level and 1 provincial-level specialized and new small and giant enterprises.

Those Who Strive First Will Succeed, and Those Who Innovate Will Be Strong. The Party Committee of Xiangtou Jinting Technology Group will earnestly implement the spirit of the Third Plenary Session of the 20th Central Committee of the CPC, take the deepening and improvement of state-owned enterprise reform as an opportunity, further improve the modern corporate governance with Chinese characteristics, integrate Party leadership into the work of reform, innovation, and development, adhere to the development concept of "specialized, refined, distinctive, and innovative," effectively stimulate endogenous motivation and development vitality, and contribute greater strength to achieving the grand blueprint of "three highs and four news".

 

Pictures and texts are from Hunan Energy Investment Group

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