On November 27 2019, CITIC Telecom International (the Group) organized a finance working conference with theme “Wisdom and Integrity for Fostering Prosperity and Enhancing Financial Management”. About one hundred representatives, including senior management from the Group, executives from headquarters, subsidiaries including CTM, CITIC Telecom CPC and overseas teams attended the conference.

At the conference, representatives from headquarters, CTM and CPC shared about their experiences on financial management. Headquarters shared financial highlights of the year and outlook for 2020. CTM shared about their implementation in relations to revenue recognition. CPC shared about their overseas compliance experiences and case studies. And in order to provide training opportunities for participants, representatives from PwC were invited to share about the latest global and regional taxation updates. Furthermore, data science specialist from CPC shared with participants the latest trends and knowledge on big data, AI, blockchain and Fintech application.

The Group’s management has reviewed every aspects of financial management work and praised the finance division for their performance and hard work in cooperating with other divisions, suggestions and valuable advice were also shared in order to help the Group to achieve strategic goals.

CFO of CITIC Telecom International, Mr. Esmond Li anticipated that the Group’s financial management work has to be automated, intelligence, forward-looking, and to build the talent pool and focus on business in order to cope with the ever-changing business environment.

CEO of CITIC Telecom International, Dr. Tiger Lin stated that finance division is the partner of the sales and commercial divisions, it acts as the support for management and safeguard the corporation strategically and it provides the solid foundation for development. Dr. Lin suggested that financial management work should promote automation and leveraging on artificial intelligence. Furthermore, the Group should also strengthen budget control and elevate the level of financial analysis in order to act fast to the changing environment. And we should enhance a scientific review and reward mechanism.

Chairman of CITIC Telecom International, Mr. Xin Yue Jiang concluded the meeting and delivered his closing speech with the subject “Advance Corporate Development by enhancing financial management and raise awareness on risk management”. Chairman Xin called for the need to understand the important function of financial management for the corporation. He also shared on the requirements, both professional competency and quality, financial executives should possess in this new era. Financial management has a core role to play in order to uphold integrity. Chairman Xin emphasized the need to find the right balance between strict control and fostering development. The ultimate goal is for us to build an international team with refined management, safeguard our revenues, maximize our values and our shareholders’ return, and eventually to boost our corporate values and continue to grow our corporation in the long run.