From November 13 to 19, Directors Yu Haixing, Ma Siyi, Yang Youhong, and Zhou Yuxiang of the Group, accompanied by Xu Datong, Chairman and Party Secretary, and Vice President Zhang Jianxin of China Haisum Engineering Co., Ltd. investigated the overseas EPC projects of China Haisum Engineering Co., Ltd., including UAE ITTIHAD PM1 350,000 t/a printing-and-writing paper project, the VKPC PM#2 250,000 t/a packaging paper project in Vietnam, the Lee & Man 400,000 t/a packaging paper production line phase-I project in Vietnam, etc.

During the survey and study, the directors and their team were briefed on the status of three projects, investigated the construction and operation on site, visited the cadres and workers who work in the frontline, and discussed and communicated with the leaders of the three project owners.

As the biggest paper-making project in the Middle East, the IPM project in Abu Dhabi, the United Arab Emirates will change the history of this region's dependence on imported printing & writing paper. As the project contractor, Beijing Branch of China Haisum Engineering Co., Ltd. is in charge of the design, purchasing, construction, installation and commissioning, etc. of the Project. The overall progress of the Project is in good order so far. The project team at United Arab Emirates overcame adverse factors in terms of culture, laws, climate and environment, worked hard to advance all works and made certain achievements, having been highly evaluated and recognized by the owner. Upon its successful completion, this project will lay a solid foundation for the business expansion of Haisum in the Middle East market, and will enhance the Company's brand influence for industrial projects in the Middle East market. Since the Project has progressed onto the key stage of "the Last kilometer", directors emphasized that it was essential to take it seriously and properly organize and coordinate the assignments of installation and commissioning so as to ensure the Project would be successfully completed and output acceptable products.

Located in Binh Duong Province, Vietnam, the VKPC Project is a joint-venture project of Thailand based SCG Group and Japan based Rengo Group. Coverage of the contract at the side of Haisum: design, supply, installation, debugging and startup, as well as the warranty on performance of entire production line. The localization rate of equipment for this project is 95%; the system-wide equipment integration is performed by Haisum, and the performance will reach the advanced level of the industry upon completion.

Located in Hau Giang Province, Vietnam, the phase-I project of 400,000 t/a packing paper production line for Lee & Man in Vietnam is Lee & Man's first large-scale investment project abroad. The Project comprises two 400,000 t/a packing paper production lines and relevant supporting works. The phase-I project deals with a 400,000 t/a packing paper production line and other supporting works that serve the general project, including the self-contained thermal power station, water works, and sewage treatment plant; the factory area is about 820,000 square meters.

As China Haisum Engineering Co., Ltd.'s typical projects in Southeast Asia in recent years, the completion of VKPC Project and Lee & Man Project gathered broad experience in technology and engineering for the Company, developed and trained our talent teams, intensified the cooperation with owners, improved the Company's influence, and further promoted the expansion of the Company's overseas projects, especially in the engineering market of Vietnam.

Chairman Xu Datong expressed his thanks to the directors for their taking the pains to survey and study overseas projects and putting forward relevant comments, and declared that the Company's 13th five-year plan will strive to implement and promote these comments and suggestions so as to turn the international business into a true new drive for the Company's development in future.

Deng Huan, Deputy Director of General Office of the Board of Directors at the Group and others were present in this survey and study.