On July 24, China Merchants Group's mid-year work conference of the year 2020 was held. Group Chairman Miao Jianmin delivered a speech. Group President Hu Jianhua made a mid-year work report. Executive Vice President Wang Hong presided over the meeting and conveyed the instructions of central SOEs executives meeting. More than 200 attendees including the Group's leading body, part of the outside directors, chief executives of China Merchants Bank and senior executives of the Group attended the conference either in person or through video conferencing.

In the first half of the year, the Group resumed work and production in an orderly manner under the premise of preventing and controlling the epidemic. Production and operation have been improving steadily, achieving operating income of 367.1 billion yuan, a year-on-year increase of 15.2%. Monthly operating income also performed better than the same period of the previous year with monthly profit indicators steadily improving since March. In the second quarter, the Group's net profit increased by 14.8% from the first quarter with some of the production and operation indicators picking up. The Group also actively fulfilled its corporate social responsibilities in the fight against COVID-19. In the first half of the year, the Group has donated money and materials equivalent to 456 million yuan to the countries along the "Belt and Road", and provided 26,900 new jobs.

In the second half of the year, the "major battle" and the "big test" continue. Miao Jianmin said that the new leadership of the Group would adhere to the working guideline of seeking progress while maintaining stability, implement the new concept for development, lead the enterprise to strive for excellence and promote the transformation for high-quality development. Hu Jianhua pointed out that, since the beginning of this year, the entire Group has been dealing with the epidemic and business development in a coordinated manner. It has withstood the test and lived up to the expectations. Specifically, for the second half of the year, first, to win the battle of stopping the epidemic from spreading, resuming work and production, and achieving annual goals unswervingly; second, continue to deepen reform and innovation, and persist in promoting entrepreneurship unswervingly; third, actively fulfil the responsibility as a century-old central SOE; fourth, continue to deepen risk management and control unswervingly; and fifth, strengthen the Group's Party building unswervingly.