To better conduct benchmarking against similar units of international peers and further enhance the sustainable competitiveness of its polyethylene units, on December 19, the Company invited Phillip Townsend Associates Incorporation (PTAI) to make benchmarking presentation. The Company’s OOP attended the meeting.

Lin Xu, the Acting President, thanked the experts for their professional comments. He pointed out that in the face of the severe market environment, all organizations of the Company must stay united and collaborative, focus on making technological breakthroughs, and proactively explore and develop high-value-added products to achieve profitability improvement based on increased production, innovation and stable production.

Lin Xu required that business teams coordinate effectively with relevant disciplines, maintain advantages in areas such as comonomer production, reliable operation of units, and shared pallets, conduct gap analysis, eliminate weak links, and further enhance operation performance.

In comparison to the global database, especially those for polyethylene units in the Middle East and Asia-Pacific regions, experts focused on commenting on the performance of business performance indicators of the Company’s polyethylene units in 2023 in terms of production load, product competitiveness, three energy agents (catalysts, auxiliaries and additives), equipment reliability, maintenance costs, and employee efficiency as well as quartile position, and provided a comprehensive analysis of recent-year trends of international polyethylene units in related fields.

After the meeting, personnel from disciplines such as production management, process, and energy-conservation engaged in technical exchanges with the experts and discussed the plan for the benchmarking work. (Pan Weijie)