In 2016, under the guidance of competent departments and registration departments, the leading of the council, the supervision and support of supervisors and relevant parts, the Oceanwide Foundation worked hard, paid close attention to implementation according to the annual work plan, and had made new achievements.

　　I. Project Work

　　The annual total donation was 1 billion 896 million 802 thousand and 100 yuan, of which 449 million 792 thousand and 350 yuan had been allocated; thirteen public welfare projects had been implemented, including ten long-term projects (two continuing long-term projects, eight new implemented long-term projects), four one-time donation projects. Among them, the following key projects of education and poverty alleviation had been carried out:

　　ⅰ. "Oceanwide Sail University Students Entrepreneurial Action" Project

　　For the implementation of the views on further expanding the funding scale of "Oceanwide Sail University Students Entrepreneurial Action" from vice director Lu Zhiqiang, to ensure that "Oceanwide Sail University Students Entrepreneurial Action" had an extensive, in-depth and sustainable development, on September 26th, the Oceanwide Foundation signed the donation agreement of the third stage in 2016-2020 of Oceanwide Sail University Students Entrepreneurial Action with Western China Human Resources Development Foundation. Based on the 50 million yuan donated in the second stage in 2015-2019, capital endowment of 50 million yuan would be newly added from 2016 to 2020, with the donating of 10 million yuan annually, for carrying out the "Oceanwide Sail University Students Entrepreneurial Action" in Shandong province, Wuhan City Hubei Province, Chongqing City, Kunming city Yunnan Province, and Gansu city Lanzhou province in a deep-going way. On October 12th, 10 million yuan of the second phase in the second stage had been appropriated; On October 27th, 10 million yuan of the first phase in the third stage had been appropriated.

　　In 2010-2015, the "Oceanwide Sail University Students Entrepreneurial Action" had been implemented five years in Chongqing, Kunming, Lanzhou, which had funded a total of 761 entrepreneurial projects, provided more than 8100 jobs for the university students. It also made a strong influence to the employment and entrepreneurship where the implementation takes place. In 2016, the "Oceanwide Sail University Students Entrepreneurial Action" had funded a total of 356 projects in Chongqing, Kunming, Lanzhou and Shandong; providing nearly 2000 jobs for the university students.

　　ⅱ. "Support of Development of Education in Fudan University" Project

In order to support the development of education in Fudan University, cultivate more useful members to our countries, Oceanwide Foundation and Fudan University Education Development Foundation signed a donation agreement on December 21, 2015, donating 700 million yuan to Fudan University Education Development Foundation from within 5 years from 2016, of which 500 million yuan would be donated for the construction of three multiple-use buildings of "Fudan Oceanwide Center" according to the progress of the project; 200 million yuan would be donated for the four education development foundations with 10 million yuan each year for each fundation in two phases in 5 years, the four education development foundations were "Fudan University Oceanwide Development Foundation of Economics School " and "Fudan Oceanwide Development Foundation of International Financial School", "Fudan University Oceanwide Development Foundation of Innovation and Entrepreneurship School", "Fudan - Oceanwide Grants, Scholarship for Students Overseas Exchange". 10 million yuan had been allocated on October 15, 2015 , the donation of 20 million yuan of the first half of the year had been allocated on January 28, 2016, and the donation of 20 million yuan of the first semester had also been allocated on June 29th.

　　ⅲ. Yunnan Xundian Anti-Poverty Project

　　In response to the spirit of the central anti-poverty work conference to support the anti-poverty work of Yunnan Xundian, just after the Spring Festival in 2016, vice director Lu Zhiqiang personally led a team and went to Xundian to investigate, then signed the agreement on April 10th, which decided to donate 93 million 180 thousand yuan within 5 years to support 10,000 impoverished college students to complete their academic project, the construction project of the red tourism base, and photovoltaic poverty alleviation demonstration project, and helped the poor people in Xundian get rid of poverty and become better off.

　　①. From August 2016 to August 2020, 10 million yuan were donated each year to support 2000 impoverished college students in Xundian, with 5000 yuan per person, to help them complete their academic projects. A total of 50 million yuan was donated in five years, with funding a total of 10 thousand impoverished college students. The donation of 10 million yuan in 2016 had been appropriated on September 2nd.

　　②. 21 million yuan was donated, specifically for the construction of the exhibition hall or other independent venues of the project of the publishing site relics protection of the central Red Army in Xundian "4-29 river crossing order". After the project was set up, funds would appropriated according to the progress of construction project.

　　③. 22 million 180 thousand yuan was donated for the construction of the photovoltaic poverty alleviation demonstration project of Xundian County, E Yang Yi Village and slope foot village. Using the "Yunnan Xundian 1.97MW photovoltaic agricultural project design program" of Hannon Holdings Group, the total area of agricultural greenhouses was 67328 square meters, and the total area of PV stands was 84160 square meters, making the two villages get rid of poverty and become better off. And through the benefits of the project, the two villages were turned into Yi characteristics cultural villages, special tourism villages, photovoltaic solar energy out of poverty alleviation demonstration villages. Up to November 17th, 22.18 million yuan had all been appropriated in three phases.

　　ⅳ. "Oceanwide Education Aid Program" Project

　　In order to respond to the call of the Party Central Committee and the State Council, implement the spirit of the central poverty alleviation work conference, and actively boost the poverty alleviation, under the strong support and guidance of the Central United Front Work Department, China Oceanwide Holdings Group launched the "Oceanwide Education Aid Program":from 2016 to 2020, 1 billion 500 million yuan would be donated with 50 million yuan each year for each province in six provinces including Shandong, Hubei, Guangxi, Chongqing, Guizhou, Shaanxi (areas and cities). Every year, each province would fund 10 thousand filed freshmen of poverty families, with 5000 yuan per person, a total of 300 thousand college students in 5 years.

　　In this regard, the Central United Front Work Department attached great importance; the Member of the Central Political Bureau, the minister of the Central United Front Work Department Sun Chunlan had made full affirmations and important instructions to "Oceanwide Education Aid Program". On May 8th, the "Oceanwide Education Aid Program" forum was held at the Central United Front Work Department. From May 9th to June 6th, vice director Lu Zhiqiang led a team to six provinces (areas and cities) within 28 days, talking about "Oceanwide Education Aid Program" with the leaders of provincial Party committee, provincial government and the Central United Front Work Department, and signed the "Oceanwide Education Aid Program" framework agreement with six provinces (areas and cities).

　　On August 25th, the capital endowment of 250 million yuan in the first phase of the "Oceanwide Education Aid Program" was appropriated to six provinces (areas and cities). In addition, the funds of 50 million of the “Oceanwide Education Aid Program” were donated through the Oceanwide Foundation. The above supported a total of 60 thousand impoverished college students.

　　In addition, the Oceanwide Foundation also donated 107 million 612 thousand and 300 yuan, implemented 10 projects including the project of Su Shimin Academy of Tsinghua University , Fudan Oceanwide International Financial School, Guangxi "Oceanwide, and Mixed Class" Nutrition Dinner for Students In Poverty Areas, Contemporary Economics Foundation of Beijing, "Tsinghua Wudaokou Oceanwide Foundation", "Health Promotion of Glory, Tibet and Four Provinces of Tibetan Areas", China Foundation of Literature and Art, Reward Funds of Philosophy, Aesthetics and Academic of Zhang Shiying, Orphans and Children in the Plight of AiYou Charitable Foundation and so on in 2016.

　　II. Financial Work

　　In accordance with the guidance of leaders and the provisions of the agreement, the Oceanwide Foundation conducted the work of donation appropriation, making the donation appropriation timely and accurate; coped with the filing matter of enterprise income tax preference and completed the final settlement of enterprise income tax according to the requirements of Beijing Municipal Bureau of State Taxation; according to the relevant provisions, proceeded the annual inspection work of central primary budge unit bank account of foundation in Beijing of 2015 and passed the annual inspection of investigation of the bank account smoothly; conducted annual audit work of 2015, provided foundation auditing report , special audit report, final settlement authentication report of enterprise income tax cooperating with the accounting firm; executed the cash and bank deposit management system and payment settlement discipline, completed daily financial management work; actively cooperated to deal with the matters of annual inspection of 2015, the filling and submitting of annual statistical reports and other related matters .

　　As of December 31, 2016, the ending balance of non-restrictive net assets was 200.2340200 million yuan, plus the receiving investment income of 8.288 million yuan this year to ensure that non-limiting net assets are more than 200 million yuan; the donation expenditure was 449.79235 million and more than the annual minimum amount of donation; the management cost was 876,900 yuan, all of which was expended for the administrative expense, and the administrative expense this year was much lower than the quota.

　　III. Internal Management

　　The Oceanwide Foundation seriously studied and implemented the spirit of the twelfth meeting of the first session council and the first council in 2016, organized and issued "the address of vice director Lu Zhiqiang in the twelfth meeting of the first session council of Oceanwide Foundation", formulated and implemented the opinion of responsibility resolution, which had been seriously studied and implemented; endeavoured to complete all the work arranged by the superior departments and the leaders of foundation: doing the annual inspection work of 2015 according to regulations; according to the requirements of Beijing Municipal Bureau of Statistics, doing the statistical work of 2015 carefully; seriously studying and understanding the "Charity Law" to strengthen contact and exchange in the public welfare charitable industry; participated in "the forum of the united front work of social organization representatives" held by the Central United Front Work Department; taken part in the national action forum of targeted poverty alleviation "million enterprises helping million villages"; attended "the conference of poverty alleviation and commendation-social poverty relief and advancement " held by Yunnan provincial government.

　　IV. Achievements and Honors

　　In 2016, the work of Oceanwide Foundation was highly appraised and fully affirmed by the superior departments and the community, and received a number of awards. On October 16th, vice director Lu Zhiqiang had the honor to get "the national poverty alleviation dedication award". On April 28th, at the ceremony of "the thirteenth (2016) China charity ranking" sponsored by "Public Welfare Times" which was under the charge of Ministry of Civil Affairs, vice director Lu Zhiqiang won the annual "top-ten philanthropist " title, ranked the top of "top-ten philanthropist" and was first issued; the Oceanwide Foundation had the tenth place in the China non-public foundation ranking. On December 2nd, vice director Lu Zhiqiang won "the distinguished people award" of China social responsibility by Xinhua Net in 2016. On the occasion of the formal implementation of "Charity Law" on September 1st, at the award ceremony of the ninth "China Charity Award" of Ministry of Civil Affairs, China Oceanwide Holdings Group won "the most affectionate donation enterprise award", "Oceanwide Sailing - Entrepreneurial Action of University Students" Project won the nomination award of "most influential charity project ", and only our enterprise had two awards.

　　Insufficiency:

　　First, we should sum up the experience of the public welfare projects which were independently planned and implemented constantly, learn lessons, take measures to improve them; Second, the foundation staff need to continue to strengthen the education of dedication in the job and business ability training, improve the overall quality and operational level ; Third, compared with the long-term development goals of the domestic first-class, internationally renowned foundations, there is still a great discrepancy, and we still have a long way to go.