In 2022, with the strong support of the Shanghai Municipal State-owned Assets Supervision and Administration Commission (SHSASAC), SIG led Shanghai State-Owned Assets Management Co., Ltd. (SSAM) and Shanghai State-owned Assets Disposal Co., Ltd. in playing their roles with focus on their primary responsibilities and business, and went all out to advance the work of revitalizing idle assets. Facing the tight schedule, the heavy tasks, the new forms and other challenges, SIG's work leading group and the special task force of SSAM unified thoughts, firmed up confidence, and addressed key challenges with the close cooperation and strong support of relevant departments, thus fulfilling the annual work tasks with high quality and efficiency.

    SIG thoroughly implemented the spirit of the 20th CPC National Congress, firmly implemented SHSASAC's special action plan for revitalizing idle assets and the spirit of the important speech of Bai Tinghui, Secretary of the CPC Committee and Director of SHSASAC during his visit to SSAM, and attached great importance to establishing and strengthening cooperation with its peer business groups administered by SHSASAC. SIG actively deepened external cooperation by intensively visiting more than 28 enterprises administered by SHSASAC and their subsidiaries, and signed cooperation framework agreements with seven business groups, including Oriental International, Shanghai Lianshe, Bright Food, Bailian Group, Arcplus Group, Jiushi Group and Lingang Group. SIG raced against time and took steady steps, to initiate six projects under the special action within the year, involving credits of over 4.7 billion yuan. With the full support of the Department of Risk Management, the Department of Financial Management and other relevant departments, SIG signed non-performing credit acquisition agreements with Oriental International and Bailian Group for 2.8 billion yuan, and accepted the entrustment of Huiluo Pawnshop under Shanghai Lianshe to dispose non-performing credits of 130 million yuan, recording a total transfer and disposal scale of about 3 billion yuan under agreements. SIG formulated and improved the work system for the revitalization of idle assets, developed innovatively according to its conditions, designed a work plan for revitalizing the idle assets of state-owned enterprises, and improved its capacity for differential service, conducted joint research with the Shanghai United Assets and Equity Exchange, initiated pilot listing projects, and constantly explored new business models and paths.

    With the Chinese New Year around the corner, SHSASAC issued the Official Reply on Authorizing Shanghai International Group to Carry out the Pilot Work of Disposing Non-Performing Credits in Batches, marking the successful start of SIG's first project of revitalizing idle assets. In 2023, SIG will continue to leverage its function as a state capital platform, adhere to the principle of marketization, optimize the working mechanism of assets disposal, improve professional competence for investment disposal, and endeavor to open up new prospects for high-quality development.