Subject: 公司桂林会议纪要 Meeting Minute
From: "Jason Zhu" <[email-masked]>
To: <[email-masked]>, <[email-masked]>, "'Bulger Jim'" <[email-masked]>, <[email-masked]>, <[email-masked]>, <[email-masked]>, <[email-masked]>, "'Xue Ming'" <[email-masked]>, "'zhoubing'" <[email-masked]>,'丰实lindsay' <[email-masked]>,'蒋明[Jiang Ming]' <[email-masked]>,'徐建新' <[email-masked]>
Cc: <[email-masked]>, <[email-masked]>, <[email-masked]>, <[email-masked]>, <[email-masked]>,'Yu Xia 夏雨' <[email-masked]>,'王宇' <[email-masked]>, "'Anna.du.BHR'" <[email-masked]>,'杨鹏(Paul Yang)' <[email-masked]>, <[email-masked]>, "'Amy'" <[email-masked]>, "'Felix'" <[email-masked]>, "'Hua Zixiang'" <[email-masked]>, "'Leonard Mike'" <[email-masked]>, "'Li Xinzhong'" <[email-masked]>, "'liu Jiayi'" <[email-masked]>, "'Michael Lin'" <[email-masked]>, <[email-masked]>, "'Sebastian Momtazi'" <
Date: Sun, 26 Oct 2014 12:17:36 +0800

尊敬的各位董事和监事：

Dear all,

2014 年10月19日公司在桂林香格里拉酒店举行了公司下一步业务发展和提高公司内部
管理的研讨会（会议纪要请见附件）。经过讨论，团队达成共识，在下一步的工作中将
主要加强几方面的工作：

BHR held a meeting to discuss the next step business development plan and
internal management improvement at Shangri-la Hotel Guilin on 19th Oct. 2014
(please see the attached meeting minutes). After discussion, the team
reaches a consensus that the Company should reinforce following works at the
next step: 

1、在业务发展方面：在抓紧国际并购基金设立和项目执行的同时，将参与国企混合所
有制改革项目的投资机会。在国企混合所有制投资上，需要系统的组织三方面的工作：
1）准备Teaser 和Pitch Book对海外投资人进行路演；2）通过各种渠道及投行，累积
更多的项目；3）资金方面，先考虑吸引海外投资人做成一个基金；在国内资金方面，
先可以通过吸引一批投资人做出非约束性的基金承诺作为劣后投资，再下一步通过在国
内设立专门从事国企混合所有制投资的基金的形式来做。

For the business development: The team should accelerate the progress in
setting up our M&A fund, meanwhile will seek the investment opportunities in
mixed ownership reform of SOEs as well. For the SOE reform, we should
prepare 1) a teaser and pitch book for offshore market road show; 2) develop
a high quality pipeline; 3) attract offshore investors to set up a USD
special fund for SOE reform with our shareholders’ help. In the Chinese
market, it is a realistic way to let some investors make non-binding
commitment for upcoming investments, and then we can consider setting up a
special RMB fund. 

2、在管理上：1）人员招聘要加快落实；2）团队在行业、税收、法律、银行融资架构
方面的培训；3）招聘实习生加强基础研究，在公司网站上发布招聘广告；4）研究的数
据目前不足，要购买Bloomberg、Wind、CEIC、C-IQ等数据。

For internal management: 1) the plan is to hire more professionals who have
cross-border M&A experience and can bring in deals or money; 2) internal
training, including taxes, fund and deal structure design, industrial
knowledge, bank financing structure; 3) set up a internship program,
directly to put an ad on our website, to provide basic research such as M&A
regulation for USA and Europe; 4) purchase some research databases including
Bloomberg, Wind, CEIC, C-IQ; 

3、目前公司保密协议的签署要加强，公司所有对外签署、董事对外签署的保密协议一
定要按照公司流程，经法务部门审核后，才能对外签署。

According our internal policy, every NDA should be reviewed by the Legal and
Compliance department, and then the director or senior management can sign
it as a representative of the Company. 

4、在股东和董事沟通上：1）落实双周会议，没有特殊事项，尽量不取消；2）及时更
新项目信息，所有项目在双周会上通报，但涉及上市公司的项目，存在敏感信息，需要
使用代码，在例会上不讨论。

To reinforce communication with shareholders: 1) change to a bi-weekly
meeting; 2) update the deal list in a timely manner and discuss it at
bi-weekly meeting, the deals  will be referred to under their project
codename if related to public company, and will not be covered at bi-weekly
meeting because of the sensitive information. 

Regards,

诸晨刚 Jason Zhu  

执行董事 Executive Director

渤海华美（上海）股权投资基金管理有限公司

Bohai Harvest RST (Shanghai) Equity Investment Fund Management Co., Ltd.

31/F, Unit 3101, Tower 2, China Central Place, 79 Jianguo Road, 

Chaoyang District, Beijing 100025, China

北京市朝阳区建国路79号华贸中心写字楼2座31层3101室 邮编：100025

Tel:  86 10 5969 5858

Fax:  86 10 5969 6123

Email:  <mailto:[email-masked]> [email-masked]