On May 17, the Company held the 4^th meeting of the third term Board of Directors (the BOD). Chairman Zhang Xiguo chaired the meeting, and the directors, the supervisor and the OOP of the Company attended the meeting.

At the meeting, the Company management presented the Business Performance of 2022 and 2023 YTD, the Safety Improvement Key Actions Status Update, the Master Plan & Competitiveness & Margin Improvement Report, the Capital Projects of 2023 and the Financial Status Update, as well as reviewed and approved related items.

The directors at the meeting commented that although the Company's safety and profit performance in 2022 have failed the expectations, with the efforts of the Company management and all the employees, many accomplishments have been made in the areas of reliability, margin improvement and cost reduction, which have delivered good results.

It was required at the BOD meeting that the Company management shall make more efforts to maintain the good momentum of safe operation and profit improvement since the beginning of this year, further optimize the value chains of refining, olefins and aromatics, and continuously work hard on safety control, energy efficiency improvement, profit improvement, marketing optimization, carbon reduction, equipment integrity and turnaround preparation, and strive to complete the annual targets and tasks. (Yu Wei)