On July 6, FREP and Fujian Gulei Petrochemical Company signed the Strategic Cooperation Framework Agreement for Collaborative Development. Keeping of strategy of long-term development, the two parties would establish a strategic cooperation relationship through friendly consultation, with the principles of complementary advantages, equality and mutual benefit, and win-win cooperation. The intent was to leverage the strengths of both parties and strive for common development on the basis of mutual benefit, and achieve good social benefits and investment returns.

Zhang Xiguo, Chairman of the Company and Secretary of the Company Party Committee, attended the signing ceremony. He commented that the signing of the framework agreement was not only conducive to promoting in-depth communication between the two sides, but also driving collaborative development of the two enterprises. As the shareholder of both companies, FPCL would further play its role of supervision, coordination, and service, build better cooperation platform, normalize work mechanism, comprehensively strengthen management, and improve resource allocation efficiency, so as to comprehensively promote the coordinated and optimized operation of Quangang Base and Gulei Base. The target was to strengthen, optimize, and expand the two Bases, achieve the effect of "1+1>2" and the goal of high-quality development.

FREP President Saleh Yahya Al Zaid and President Zhao Tianxing of Fujian Gulei Petrochemical Company signed the Agreement on behalf of the two parties. FREP management Lin Xu, Suchart Phowatthanasathian, Li Ji, and the management of Gulei Petrochemical Company, including Chen Guodong, Zhan Jinhe and Du Hongming, attended the Agreement Signing Ceremony.

Zhao Tianxing commented that there was great cooperation oppotunities between the two sides in terminal resources sharing, raw material procurement, personnel backup, inventory backup, and management experience exchange. Through strategic cooperation for collaborative development, the two companies would promote cost reduction and profit increase, maximize resource utilization, and respond to the winter in market by "holding together for warmth". At the same time, in long-term cooperation, we would continuously improve management level, enhance competitiveness of the enterprises, promote high-quality development and make stable progress.

Saleh Yahya Al Zaid commented that in the face of the severe market situation, seeking opportunities for win-win development through in-depth cooperation was a common goal and desire of both sides. Both parties should continuously strengthen all-round cooperation, learn from each other, share resources, establish a sound and efficient communication and exchange mechanism, strengthen experience sharing in the whole process of production, operation and management, explore more possibilities of in-depth cooperation, and make concerted efforts for a better future.

Before the Signing Ceremony, FREP OOP visited the exhibition hall, the CCR, and the production site of Gulei Petrochemical Company. (Lu Lin, Su Zhe, Qiu Liping, Lin Ruixing)