All employees in FREP,

Happy New Year! At this happy moment of ringing in the New Year, on behalf of the new Office of President, I would like to extend my New Year wishes to my colleagues and their families. The beginning of the New Year is an opportunity for us to look back on our outstanding performance in last year, as well as set expectations for this year.

For FREP, the year of 2017 is a milestone of the company since its formation. In the year of 2017, we celebrated the 10 years anniversary and the extraordinary journey made by the company, the 5 targets set by the Board of Directors were successfully completed, the company HSE performance was satisfactory, Steam Cracker Debottleneck Project and Supporting Facilities passed the as-built inspection and acceptance, ethylene production exceeded 1.2 MTA for the first time, profit created the best record in the history, jet fuel was exported for the first time and FREP made the first time shareholders dividends. These achievements are the results of the strong leadership of the company management led by Mr. Gu Yuefeng, and, more importantly, the results of all employees pulling together in their pursuit. I express our congratulations and heartfelt thanks to all of you.

  Today, we are running our business in the macro environment that characterized by diversified raw materials, different demands, globalized market, low carbon emission and green development of the industry. Refining and chemical industry are forming a new pattern, and at the same time bearing significant impacts of the fast-growing electro vehicles, shared economy, Internet of Things. To adapt to these tremendous changes, we must change our mindset and embrace the challenges.

  Looking into year 2018, we shall shoulder the tasks of safety, environmental protection, reliable operation, profit and turnaround etc. In the big changes of business environment, we shall find and seize opportunities, apply to our refining and petrochemical integrated plant, create new advantages of competition and new increase points of profit, win customers with quality products and service, realize the enterprise missions of “Create Values, Satisfy Customers, Benefit Employees, Maximize Shareholders Value, Contribute to Society”, and drive the company toward the first quarter in the industry.

  I hope we can all make a step forward in our work at the beginning of this year. Directed by the company vision of to be a world-class petrochemical company with sustainable competitiveness, forecasting the changes in the future while operating in the current environment, making fundamental progress and development, realizing the optimum performance of the company. I hope we can all play our own parts in the new year. What are our targets? Where are the gaps? What shall we do? And answer these questions by taking actions. I hope everybody can demonstrate team spirit and leadership, realizing the best individual performance and company performance. 

I want to emphasize safety and reliability, which are the condition and foundation for all of our work. Please attach great importance to safety and reliability, and always bear in mind that the safety concepts of Zero Tolerance in Safety and Environmental Protection, and All Incidents are Preventable, thus to prevent all possible risks and take no chances.

  We are taking new steps forward to the next round development. The future may not be clear, but we are not afraid of changes. We shall always be optimistic and humble, taking solid steps to the future. I have a strong believe that we will surely succeed in a new development and more prosperous future of FREP. 

May the chime of the New Year consolidate our confidence and re-ignite our aspiration for an even better tomorrow!