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The Company Held 2018 Mid-Year Communication Meeting

In the afternoon of August 16th, the Company held 2018 mid-year communication meeting at the 3/F conference hall in Quanzhou office building.

Company management Mr. Gu Yuefeng, Mr. Joost Emmen, Mr. Nouraddin A. Yousuf, Mr. Yang Hongbin and Mr. Lin Xu attended the meeting. General managers and deputy general managers of each department and business team managers and employee representatives attended the meeting. The meeting was chaired vice president Mr. Nouraddin A. Yousuf.

Chairman Mr. Gu Yuefeng delivered a speech. He said that since this year, the Company had been optimizing products structure and improving profit, successively developed new polyolefin grades, high-grade gasoline 98#, and realized diesel export. These were inseparable from the hard work of all employees. He expressed gratitude to all the staff on behalf of BOD.

Mr. Gu Yuefeng analyzed the current international/ domestic market environment and the severe situation the Company in faced with. He pointed out that the current market opening pace was accelerating, and the Company would encounter competition with large international companies in the future. We must plan ahead, effectively enhance market awareness and crisis awareness, accelerate our ability improvement, change our mindset, rely on no one but ourselves, be alert, innovate institutional mechanisms, promote resource integration and personnel optimization, explore market and increase profit, and strive to be competitive in respect of reform and innovation.

In response to the focus of the next five months, Mr. Gu Yuefeng put forward three requirements. First, start from inside to improve the efficiency of work at all levels and in all aspects, and achieve high-efficiency operation and high quality development. Second, have occupational ethics and the sense of integrity and self-discipline, implement the program of invigorating enterprise through human resource development, and speed up the creation of talented highland; third, implement the turnaround plan from the finest to ensure safety and environmental protection, control quality and schedule, and complete the annual targets and tasks with more positive spirit.

At the meeting, president Mr. Joost Emmen summarized the business performance from January to July 2018, affirmed the remarkable accomplishment in the Company's HSSE performance, profitability, sales and procurement, operation optimization, operating costs, people management and other aspects in the first half of the year, and shared the progress of the top10 key tasks.

Mr. Joost Emmen requested that in the next five months, the focus of work should be on “2018 key actions- top 10 key tasks” and turnaround& revamp, etc., to achieve safe and reliable operation and profitability, and ensure the smooth realization of the commitment to the board of directors.

Vice president Mr. Nouraddin A. Yousuf put forward requirements for 2018 turnaround. He expected that all employees and contractors would uphold the concept of “one team, one goal”, strengthen communication, and secure a victory over turnaround through cross-functional collaboration, and successfully achieve the set goals.

At the meeting, vice president Mr. Lin Xu delivered the 2018 Mid-year HSSE Report. In the report, he reviewed the HSSE performance from January to July 2018, analyzed the main gaps and current situations of HSSE work, and deployed the key HSSE tasks in the second half of the year.

At the meeting, entrusted by vice president Mr. Zhao Tianxing, general manager of Mechanical Dept. Mr. Zhang Huaping made the mobilization speech for 2018 turnaround. Mr. Pan Qiwen, manager of Fuels-1 BT, made a commitment statement.

The agendas of the meeting were successfully completed in the afternoon and the meeting closed successfully. (Xiao Wanyuan & Zhang Lei)

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