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Dear Shareholders,
In 2017, the management of the Company unswervingly implemented the development philosophy of focusing on quality and efficiency and took the promotion of competitiveness as the core of operation and management. With the joint efforts of all employees, the Company achieved new progress in various tasks.

In the past year, the Company has made tremendous efforts to promote the efficiency of equipment management, and the reliability of the equipment has been improved consequently; the Company strengthened policy research and decision-making judgement, actively followed the dynamics in the market, and maintained a leading position in the industry in terms of weighted average utilization hours of the year. Besides, the cost and expenditure was managed effectively under the intensified cost control. Throughout the year, the overall safety situation of the Company was stable, the development work was progressed steadily, the level of corporate governance was further enhanced and the business performance hit a new record high.

The year of 2018 marks an important year for the Company to create a world-class new energy enterprise with international competitiveness. Under this context, the management will unswervingly implement all the work allocated by the Board of Directors, firmly grasp the historic development opportunities of the new energy industry and properly respond to the difficulties and challenges. Moreover, we will take the objective as our guidance, market as our direction and reform as our driver, embrace the working ideas of “guarantee security, improve efficiency, highlight development and strengthen management”, so as to achieve more outstanding results and create new values for the shareholders.

Lastly, on behalf of the management and all employees of the Company, I would like to extend my sincere gratitude to all the shareholders and investors for their continued support, care and trust.

Cao Shiguang

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