2017 is destined to be an extraordinary year.

      Since the establishment of FREP in 2007, with great support from all sectors of society and Chinese and foreign shareholders, and solidarity and cooperation of all employees in the past ten years, FREP finally completed its first time dividends distribution to shareholders on December 12^th, 2017. This is what the shareholders have been anticipating as well as every employee is proud of.

      The way of shareholders dividends is not a paved road. From the proposal of interim dividends in spring of 2017, FREP Finance Department immediately started relevant work: the funds group, according to the Articles of Association of the Company, made the dividends distribution scheme and work plan, understood the policies and regulations for Sino-foreign joint venture dividends distribution, entrusted the law firm to issue the letter of opinions on interim dividends distribution and actively communicated and carried out every step with SAFE and loans agents; the controls team took the lead in entrusting external auditors to carry out the interim audit, and received the clean opinion audit report issued by the external auditors as scheduled; the accounting & inventory group coordinated with relative departments and external auditors to participate in and complete the first interim stocktaking since the establishment of the Company; the tax group visited the tax bureau many times for tax requirements clarification and tax implementation details confirmation.

      As seasons change, along the way, under the country’s strict control of the foreign exchange, and under the policy guidance of relevant government authorities at all levels, we actively communicated with government authorities at county/ municipal/ provincial level as well as State Administration of foreign exchange, to obtain the approval of all parties. Under the care and support of the Company management and guidance of the department management, confronted with great pressure and challenges, we overcame many difficulties together, and eventually realized the first time dividends distribution since FREP establishment.

      Thick and heavy in colors, this is a chapter written by all employees of FREP with their youth and passion on the milestone of the Company development!

Setting out on the new journey, FREP employees are creating values for the enterprise with our actions and realizing the vision of the Company!

 (Lin Hangzhou, Li Weiwei)