On November 19, the Company convened the Third Meeting of the Fourth Term BOD in Xiamen. Chairman Zhang Xiguo presided over the meeting, with directors, supervisors, OOP, and representatives from all shareholders in attendance.

At the meeting, the management made reports on the Company's September YTD business performance and 2025 outlook, progress of FREP safety improvement plan, FREP business plan, capital projects, and people management plan, and relevant matters were deliberated and approved.

It was noted in the meeting that in 2025, the Company demonstrated outstanding performance in production safety, reliable operations, energy conservation and consumption reduction, cost reduction, and work conduct improvement. Therefore, gratitude was expressed to the management and all employees for their dedication.

It was emphasized in the meeting that the business plan for 2026 features thorough analysis, ambitious targets, and comprehensive arrangements. The Company must strengthen process control and implement robust measures to ensure the smooth achievement of all objectives under the business plan.

First, maintaining stable operations must be continuously prioritized. Attention should be paid to the lifespan and reliability of electrical instrumentation components in critical units and equipment. Rounds inspection quality must be further enhanced, with particular vigilance kept toward leakage risks. Technical means should be employed to strengthen process monitoring, ensuring timely response and proper handling.

Second, optimization efforts must be persistently advanced. Efforts should be made to optimize operations and enhance precision management, implementing measures outlined in the business plan regarding raw material procurement, product sales, energy conservation and consumption reduction, as well as cost management. Opportunities for improvement requiring no or minimal investment shall be identified, with "quick-win" projects executed to fully tap and unleash potential benefits.

Third, continuous efforts must be made to strengthen team building. Training should be enhanced, staffing optimized, and mechanisms established to steadily elevate the competency of the workforce. Practical steps should be taken to cultivate a fine work style, harnessing the spirit of hard work and consciousness of frugality to fully mobilize efforts in overcoming production and operational challenges.

Fourth, sustained efforts must be made to advance development planning. Close coordination with shareholders should be maintained to finalize revamping plans for old units, while active efforts should be made to promote subsequent feasibility studies and basic design. Meanwhile, efforts should be made to advance research on development planning proposals, rigorously review and validate the research outcomes, and expedite consensus-building among shareholders before submitting the final proposal to BOD for approval.

During the meeting, the Company also convened the First Meeting of Shareholders Meeting for 2025 and the First Meeting of the First Term Board of Supervisors. (By Yu Wei and Zhang Lei)