In March 2018, our Foundation held the general election of Board of Directors in Hong Kong, the 3rd Board of Directors had its terms expired and the 4th was established and started its work.

The 3rd

        The 3rd Board of Directors of our Foundation announced its establishment through the 1st Session of 3rd Board of Directors on February 28, 2013. Its members included: President Zhang Xingsheng, Secretary-General Lei Yongsheng (legal representative), and Directors – Tian Yueyong, Wu Shihong, Li Jian, Zong Lina, and Sarentuoya. From October 2014 to February 2016, Tian Yueyong, Li Jian, and Zong Lina respectively resigned due to policy environment, changes in their work and other reasons. Later through the resolution of the 7th Session of 3rd Board of Directors, Niu Ben, Li Lu, Shen Xia, Wang Yonghong, and Zhang Hongyan were supplemented as Directors.

      From 2013 to 2017, under the leadership of the 3rd Board of Directors, our Foundation launched 121 projects in the fields of environmental protection, culture and education, industry promotion, and disaster relief, covering 31 provinces (autonomous regions/municipalities and special administrative regions) in China as well as the United States, Canada, France, Denmark, Nepal and Africa. The accumulated public welfare expenditure was 855 million yuan.

       According to the Regulation on the Administration of Foundations, our Foundation entrusted Baker Tilly China Certified Public Accountants for financial audit before the change of the Board of Directors. Baker Tilly China issued Audit Report on the Financial Income and Expenses of Lao Niu Foundation in the Term of the 3rd Board of Directors.

       Audit conclusion: the financial indicators of Lao Niu Foundation from 2013 to 2017 all met the relevant requirements of Regulation on the Administration of Foundations and Regulations on the Annual Expenditure and Administrative Expenses of Charitable Organizations in Conducting Charity Events.

       Comprehensive evaluation: Under the leadership of President Zhang Xingsheng and Secretary-General Lei Yongsheng, the 3rd Board of Directors of Lao Niu Foundation has strictly followed the Foundation Bylaws to perform various duties, taken “helping others to help ourselves, keeping gratitude in mind, helping education and environment, making contributions to the world” as its purpose, and conducted various activities in environmental protection, culture and education, industry promotion, and disaster relief, etc.; it has also further improved the internal system of the board and enhanced the Foundation’s influence.

Founder’s Note

   In March 2018, the 3rd Board of Directors had its terms expired, having successfully completed its mission. Mr. Niu Gensheng, founder and Honorary President of our Foundation, spoke highly of the work of the 3rd Board of Directors, saying at the meeting: many thanks to the 3rd and the past Directors and all friends who have supported and helped Lao Niu Foundation. I will always keep in mind your help to me and the Foundation.

The 4th

     The 4th Board of Directors of our Foundation was announced on March 5, 2018 with members including: President Lei Yongsheng (legal representative), Deputy President Wang Yonghong, Secretary-General An Yaqiang, and Directors – Niu Ben, Zhang Hongyan, Shen Xia, Yang Yuhong, Li Lu, and Sarentuoya. Mr. Niu Gensheng bestowed “diligence and long-term responsibilities” to the 4th Board of Directors with high expectations.

President’s Note

     Mr. Lei Yongsheng, the new President of Board, said on behalf of the 4th Board of Directors: we will perform the responsibilities of the new Board of Directors with our firm belief in philanthropy and commitment to the Foundation.

     Next, we will focus on the historic mission of the new era, hold high the great banner of socialism with Chinese characteristics, follow the guidance of the new Board of Directors, implement the principles and policies of the Party and the nation, continue to practice the concept of family charity, strengthen fine management, innovate thinking for work, and explore intensively in public welfare. We will take professional, informational, and transparent projects as the carrier to continue to explore the development path of “Chinese-style modern charity family foundation” for philanthropy in China, thus leading and promoting the overall development of the industry and contributing to the grand goal of achieving the great rejuvenation of the Chinese nation. We will open the “new chapter” of the next five years!