Ningbo Water Meter 2015 Shareholders' Meeting Focuses on Smart Water

【China Instrument Network Instrumentation Enterprise】 On May 10, 2016, Ningbo Water Meter Co., Ltd.'s 2015 annual shareholder meeting was successfully held at the No. 351 Xinhe Road, Jiangdong District, Ningbo City, Zhejiang Province. During the meeting, Ningbo Water Meter Co., Ltd. stated that in the future, more resources will continue to be invested in the research and development of smart water.

The meeting reviewed and approved the "Proposal on the 2015 Board Report of the Company"; "Proposal on the Company's 2015 Board of Supervisors' Work Report"; "Proposal on the 2015 Annual Financial Statement of the Company"; "Proposal on the 2015 Profit Distribution of the Company" ;"Proposal on the 2016 Financial Budget Report of the Company"; "Proposal on the 2015 Annual Report and Abstract of the Company"; "Proposal on the Employment of Lixin Certified Public Accountants (Special General Partnership) for the Company's 2016 Financial Auditing Institution; "About “Proposal to Change the Business Scope of the Company”; “Proposal for Amending the Articles of Association”; “Proposal to Change the Way for the Transfer of the Company’s Shares to be a Market-making Transfer Method”; “Proposal for Authorizing the Board to Handle Stock Transfer Method-related Issues”.

In 2015, with the Chinese economy entering a new normal and the macroeconomic downturn, Ningbo Water Meter Co., Ltd. has focused on the annual business objectives and seized new opportunities for building smart cities and smart water services in the face of intricate business environment. Deeply cultivating domestic and foreign markets and achieving a steady increase in net profits and total assets. In 2016, facing the slowdown of the domestic economic growth, the world economy also presents many intricate uncertainties, market competition in the water meter industry will become fiercer and more uncertainties, and the company will continue to invest more resources in smart water projects. In the research and development, we will build a water data cloud platform based on internet technology as the core with smart water services, and provide water companies with solutions for monitoring, management, control, alarm, and dispatching systems, so as to capture the state’s wisdom about smart water and smart cities. The new opportunities for construction lay a solid foundation for the company's long-term profitability.

(Original title: Ningbo Water Meter Co., Ltd. Held 2015 Annual General Meeting of Shareholders)

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