June 29th, the 2017 general meeting of shareholders was held at the Panda Equipment Park. There are 14 bills passed in the meeting including 2017 annual report and related issues, the 2017 annual profit distribution scheme and the election of the 9th board of directors and board of supervisors. The business objective of 2018 is 4.5 billion yuan in operation revenue and 180 million yuan in total profit. The profit distribution scheme is cash bonus 0.7yuan per 10 shares. On the meeting, Xu Guofei, Chen Kuanyi and Xia Dechuan were elected as executive directors. Lu Qing, Deng Weiming, Gao Gan were elected as non-executive directors. Du Jie, Zhang Chun, and Gao Yajun were elected as independent non-executive directors. Tu Baichang, Song Yunfeng and Zhou Yuxin were elected as the members of the 9th board of supervisors.

The 1st meeting of 9th board of directors and board of supervisors was also held. Xu Guofei was elected as board chairman. Chen Kuanyi was elected as vice board chairman. Tu Baichang was elected as chairman of the board of supervisors. The strategic committee, audit committee, nomination committee, salary and assessment committee which belong to the board of directors were also elected. The senior management was appointed and stable.

The term of the 9th board of directors and board of supervisors is from June 2018 to June 2021, which is the key period to carry out the spirit of 19th CPC National Congress and fully realize the goal of "13th Five-Year". During the term of the 8th board of directors and board of supervisors, the solid foundation for the development and reform was laid. In the future, the company will focus on reform and innovation, deepen lean management, improve the quality of development, accelerate the expansion of the main business, ensure the completion of the targets. Panda will create value for the society, give feedback to the investors actively, and open a new era of Panda.