November 11 is the 3^rd anniversary of commercial operation of FREP. RMB 181 billion Yuan’s sales income and RMB 20.7 billion’s tax payment have been realized by the project. The integrated refining and ethylene project has been put into commercial operation from November 11, 2009. Three parties of the joint venture exploit their respective advantages to the full to achieve an organic integration of management system, corporate culture. All work in production and operation develop in the right direction and the Company is advancing in the way to become a leading integrated refining and petrochemical company in Asia.

During the past 3 years, the Company overcame serious challenges brought about by continuous price increase of crude oil in international market and inversion of refined oil price in domestic market, won Chinese and foreign shareholders’ understanding and support, maintained the processing load rate of oil refining equipment. By October this year, it has processed 30.14 million tons of crude oil, produced 26.87 million tons of products of various types, and realized a sales income of 18.10 billion Yuan and paid tax of RMB 20.7 billion. FREP has made positive contribution to secure domestic refined oil market resources and promote local economic construction.

The Company attaches great importance to “Five KFAs”, Solomon and Townsend industrial benchmarking to improve its technical indicators. In 2001, the capacity utilization, labor cost, EII of ethylene unit rank among the first quartile in Asia-Pacific region. Meanwhile, the Company has always been committed to the pursuit of coordinated development of health, safety and environment to minimize the environmental impact of production activities; continuous improvement of the performance in various business fields to maintain its competitive edge and profitability; strengthening cooperation with customers, suppliers and other associated parties, and helping associated parties to make greater success with high quality product and service to achieve mutual benefits of all concerned parties; and at the same time attach great importance to and actively fulfill its corporate social responsibilities, contribute to society in various ways, devote itself to become the most welcomed company by employees, the most reliable partner to customers/suppliers and a good neighbor of surrounding communities.