On April 28, 2012, The 2012 Annual General Meeting of Shareholders of Qingdao Rip Electric Co., Ltd. 2012 was held as scheduled.
The meeting approved various documents including The 2011 Report on the Work of the Board of Directors, The 2011 Report on the Work of the Board of Supervisors, The 2011 Financial Statements, The Proposal for the Incentive Program of Virtual Equity, The Proposal for Share Transfer and The 2011 Profit Distribution Plan. The administrative council publicized The Resolution of Rewarding Senior Employees, which stipulates a reward of 1,000 yuan to all senior employees after each annual meeting of shareholders.
The annual meeting of the shareholders for the 2012 pointed out the direction and set the targets of future development. the Incentive Program of Virtual Equity will motivate backbone employees of the company to form a community of interests with the company and promote the development of enterprises. At the end of the meeting, Chairman Lin emphasized that during the new year, a new journey and a new task is calling on us to vigorously carry forward the spirit of "self-reliance, social commitment" and follow the core values of "people, integrity, and responsibility". Under the wise guidance of the Board of Directors, we will unswervingly adhere to the scientific development as the theme, to focus on economic efficiency with more firm confidence and seize new opportunities and strive to create a new situation for the completion of the 2012 annual business plan tasks, and strive for the realization of the 12th Five-Year Development Goals set by the Board of Directors.