Dowell Co., Ltd Held the 2016 Annual Summary and CommendatioTime：2017-01-16 10:00:34
On January 10, 2017, the 2016 annual summary and commendation meeting of Henan Dowell Science and Technology Co., Ltd was held in Changge hotel. (Figure 1 is a picture of the chairman of the board who is making the annual summary speech.)
（Figure 1） Chairman of the board, Mr Sun Jianqiu, made the following summary of annual events and work:
Year 2016 is a great year for Dowell’s rapid development, in which Dowell achieved an output value of 130 million Yuan, gained a profit of 9 million Yuan.
1. In March 2016, Dowell completed private placement of equity for the first time, and raised 21 million Yuan by selling 7.05 million shares with a price of 3.1 Yuan/share;
2. In May 2016, Dowell entered the innovation level of the new three board, which marked that Dowell became one of the high-quality enterprises selected according to a percent of 10% of the over 10 thousand enterprises listed on the new three board.;
3. In June 2016, Dowell began its second private placement of equity, and raised 54 million Yuan by selling 12 million shares with a price of 4.5 Yuan/share;
4. In August 2016, the project of magnesium alloy automobile hubs with an output of 1 million started, which is expected to conduct the trial production in March 2017. At present, the project is under construction according to the plan. The whole project has three production lines and will request an investment of 500 million Yuan. It will be completed in 2019, after which the project will achieve the goal of producing 1 million magnesium alloy automobile hubs annually. Currently, Dowell has signed a three-year supply intention contract with the North America market. This project is an energy saving, environmental friendly product project greatly supported by the government, and will become the developing core of Dowell in the future.
5. In October 2016, Dowell succeeded in cooperating with Mobike and becoming its qualified supplier. It is expected to achieve 100 million Yuan sales by 2017.
6. On December 5, 2016, Dowell decided to establish a China and South Korea Institute with KEMP from South Korea. The work is about to start. The launching of the institute will further improve Dowell’s skill in magnesium alloy surface treatment.
7. On December 20, 2016, Dowell signed a supply agreement on the production of magnesium alloy lamps for boats and ships and quay with OWL from South Korea, which will ensure the export of all the products by 2017.
8. Alloy sections are the major business of the company this year. With the increase of the number of machines from 3 earlier this year to 8 now, the production of sections has experienced several substantive breakthroughs. In April, the sale amount broke 1 thousand tons, and in December, the sale amount broke 1.2 thousand tons. After these years of vigorous development in the industry of sections, Dowell shows its advantages and core competitiveness in section extraction.
It is expected that Dowell will achieve an income in sales of 300 million Yuan and gain a profit of 30 million Yuan in 2017.
The chairman of the board awarded the best cooperation agency award to the leaders from Shanghai Hao Heng Investment Management Co., Ltd and Yi Ding (Shanghai) Equity Investment Fund Management Co., Ltd. (Figure 2 is a picture of the chairman of the board with the leaders of the winning agencies.)
（Figure 2 ） There were 34 advanced worker representatives in total that was awarded during the 2016 annual summary and commendation meeting. The development of Dowell still need these advanced workers to better play an exemplary role in the efforts for creating a brighter future for Dowell. (Figure 3 is a picture of the awarded advanced worker representatives.)