Currently, the international and domestic economy is under downside pressure, and petrochemical industry demand continuous to shrink. FREP is facing more challenges and difficulties than we forecasted. Facing such cruel reality, all layers of FREP management must achieve unity of thinking, firm our confidence, work together to seek all possible solutions, adopt strong measures with best efforts to promote management and profit improvement and reverse loss situation as soon as we can.

Make every effort to stick to safety and reliability. Considering the unit feature of large-scale, integrated and unified, reinforce people’s awareness on procedure/execution/responsibility. High standard and strict requirement are expected to be set for continuously completing safety measures, ensuring flawless operation and improving HSE performance and reliability in all aspects.

Make every effort to optimize process flow. Establish an optimization management system integrating project optimization, process optimization with all staff’s participation. Optimization should be truly systemized, standardized and normalized, and transformed to self-conscious actions of all employees to improve margin and maximize the return of current assets.

Make every effort to reduce cost and expenses. Further confirm the objective of production improvement and cost reduction, develop action plans, reinforce communication, pass on pressure, define responsibility, and make best effort to reduce procurement cost/ energy cost/operation expenses, and properly control all controllable cost and expenses.

Make every effort to strengthen management. Motivate all employees to engage in “Management & Profit Mutual Improvement Activity”. Carry out improvement measures to remove constrains. Further improve management efficiency, achieve the conversion from functional management to process management, and realize precision management and operation.

Make every effort to improve leadership and execution. All management are expected to demonstrate leadership and encourage team members’ responsibility and motivation into full play; focus on cross-functional cooperation, improve execution, strengthen cohesion and competition of the team; further reinforce communication and cooperation with external parties for seeking support.

All Departments are expected to exert the utmost effort with highly responsible spirit, pull together and proactively face challenges to change FREP’s profitability situation with all possible solutions, achieve all targets of “Management & Profit Improvement Year”, and stride forward to FREP vision of being the leading enterprise in Asia.