Recently, State Grid Corporation of China obtained the restructured business license issued by the industrial and commercial department on November 30th, and the corporate restructuring work at the company headquarters has been successfully completed. According to the deployment of the State owned Assets Supervision and Administration Commission of the State Council and the provisions of the Company Law, State Grid Corporation of China has been restructured from a state-owned enterprise to a solely state-owned company, with its name changed from "State Grid Corporation of China" to "State Grid Corporation of China Limited". At this point, including the headquarters of State Grid Corporation of China and the 21 secondary units and 123 tertiary and lower units that need to be restructured, all the tasks of corporate restructuring have been completed ahead of schedule. The successful completion of the restructuring work marks the official entry of a new stage in the deepening reform of State Grid Corporation of China. State Grid Corporation of China has completed its restructuring and renamed itself as "State Grid Corporation of China Limited"

Since the beginning of this year, the Party Group of State Grid Corporation of China has attached great importance to the restructuring of the company, and has held two Party Group meetings to review relevant restructuring issues. Shu Yinbiao, the Chairman and Secretary of the Party Group of State Grid Corporation of China, has issued important instructions on the restructuring of the company multiple times, demanding that from the perspective of improving corporate governance, strengthening top-level design, and coordinating the promotion of restructuring work. The company has established a special leadership group for the reform of the company system and a specialized office; Each level of unit shall establish corresponding organizational structures and working groups, clarifying that the main responsible persons of each level of unit are the first responsible persons for the company's restructuring work. State Grid Corporation of China has held multiple meetings to coordinate research and solve major issues related to the restructuring work. Each department has a clear division of labor, coordinated efforts, and coordinated progress.

Since the end of last year, State Grid Corporation of China has been conducting research on issues such as restructuring procedures, tax and fee policies, and land allocation, forming various special reports; At the beginning of this year, a thorough investigation was conducted to fully understand the background of all levels of state-owned enterprises in the company, and a "Work Plan for Company Restructuring" was developed in advance, clarifying the key nodes and task list for the restructuring work of the headquarters and various units. Strictly control the process, conscientiously implement the requirements of the "Implementation Plan for the Reform of the Central Enterprise Company System", and strictly follow the decision-making and democratic procedures of the "Three Importances and One Large" policy; Strictly follow the evaluation procedures of third-party intermediaries to ensure that the restructuring process is in compliance with the law; Organize pre examination and joint review of the restructuring plans of each unit, sort out the restructuring materials submitted by each unit item by item, and issue legal documents such as shareholder decisions in accordance with the law to ensure that each unit completes the restructuring tasks in advance. State Grid Corporation of China implements project management in the restructuring work, prepares milestone plans for the restructuring work, strictly controls the deadline for completing key tasks, and assigns responsibility to each person and every day of the work task; Proactively researching restructuring policies, releasing the 'Q&A on Corporate Restructuring Work', focusing on answering 53 hot and difficult questions; Establish a weekly work report mechanism, issue 11 monthly and biweekly reports, and promptly report and publicize the progress and typical experiences of each unit's restructuring; Improve the corporate governance structure of each unit of the company, revise the company's articles of association in a timely manner, prepare a model of the second level unit's articles of association and provide timely approval, and scientifically design the second level unit's corporate governance model.

At present, all state-owned enterprises at all levels of State Grid Corporation of China have completed the task of corporate restructuring on schedule. Units at all levels have completed the establishment of the board of directors and supervisory board, as well as the allocation of directors, supervisors, and senior management personnel, as well as improving the revision of rules of procedure, and initially establishing an effective corporate governance structure with checks and balances.