The beginning of the New Year ushers in all the possibilities and opportunities. At this happy moment of ringing in the New Year, on behalf of FREP’s Office of President, I would like to extend my New Year wishes to all employees and their families, all business partners, and the shareholders, the leaders at all level and the friends of all circles who have long been caring and supporting the development of FREP.

The year 2021 has seen the global spreading of Covid-19, the changes unseen in a century, the big fluctuations of crude oil prices, the slower increase of domestic demand, the intense market competition, and the higher reliability / safety / environmental concerns at end of the operation cycle. We faced the challenges head-on and marched ahead with elaborate plans and collective efforts. The company has identified new opportunities amid challenges, and made new progress against crisis. With outstanding accomplishments in aspects of production, operation, turnaround and revamp, we have maintained good momentum on the path towards a world class petrochemical company with sustainable competitiveness. The joint efforts of the whole organization have made all the difference in the company. I salute all your great efforts in the past year. We all deserved a thumb-up.

In the 15^th year of the Joint Venture formation, FREP in 2022 will still encounter various challenges. We have strong confidence on the resilience and potentials of China’s economic growth. We will understand the market trend and capture opportunities to follow the new development pattern of petrochemical industry, win the intensified market competition, and meet the increasing standards of safety, environmental protection, energy saving and emission reduction. We will fully leverage the advantages of the shareholders, and work closely with our business partners in upstream and downstream to address the hardship together. We will remain market-oriented and profit-centered, improve the cohesion and competitiveness of the company, and maintain the good development momentum of the company.

In the starting point of the new year, I hope all employees to aim high and work down-to-earth, carry forward the enterprise spirit of “Teamwork and Pursuit of Excellence”, brave the changes with open minds and grow faster, work with higher morale, steadier work style and better business management, and write a new chapter of FREP.

Let us all work together for a shared future in 2022. May FREP enjoy a brighter future and all employees live in peace and harmony!