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SINOCHEM Group's Vice President Han Gensheng and Wang Yinping's Visit and Inspection

On Jan. 4, 2011, the first working day of the new year, SINOCHEM Gourp's Vice President Han Gensheng and Wang Yinping visited SINOCHEM Ningbo for inspection and direction. The Vice Presidents, on behalf of SINOCHEM Group, extended their heartfelt greetings to everyone present at the meeting attended by leaders at mid-level and above. At the meeting, Mr. Liu Jianping, President of SINOCHEM Ningbo, spoke on the Company's status, the operations in 2010, the progress of key strategic issues and the plan of 2011.

Vice President Han Gensheng and Wang Yinping spoke highly of SINOCHEM Ningbo's record high of 162 million yuan pretax profit, and presented their proposals over the upcoming work.

Vice President Wang highly valued SINOCHEM Ningbo's performance in operations and management in 2010, remarking positively on its business expansion, competitive edge, new business scope development, proper HR structure adjustment, further operating quality upgrading, etc. As an excellent enterprise, however, reform and renovation is always an issue worth contemplating. He suggested much work be done well on the construction of the Company's Divisions while greater efforts needed to turn the loss-making Lianyungang Chemicals Co. into a profitable one.

Vice President Han spoke highly of the Company's wholesome growth in operating scale and profit-making capacity. He said that SINOCHEM Ningbo was outstanding in developing its pillar businesses steadily and soundly. With new scopes to have been developed in recent years, the Company should consider the enlargement and consolidation of the operations. Its shareholding system should demonstrate the Company's unique corporate culture, which is a task of SINOCHEM Group and Ningbo. SINOCHEM Ningbo, an embodiment of the Group's value, would enjoy the Group's support in its progress. He stressed that SINOCHEM Ningbo must advance soundly and rapidly with its overall vision, team work spirit and surmounting endeavors. He also hoped that the participants responsible for varied operations and divisions foster autonomous study to improve their comprehensive quality and management competence with the spirit of cooperation and contribution. On the Company's operations and management, Vice President Han made a 3-point proposal:

1. Thinking highly of financial and budgetary index and cost control to raise operating quality;

2. Developing and expanding new scope of business and striving to score annual profit of 200 million RMB yuan while stabilizing the existing business;

3. SINOCHEM Ningbo is expected to contribute more while sharing the fruits of SINOCHEM Group.

Mr. Liu Jianping, President of SINOCHEM Ningbo, responded that the whole Company would endeavor jointly to push forward varied aspects of work in 2011 to meet the demand of SINOCHEM Group's leaders and bring the hopes into being.

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