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Progress Report and Coordination Meeting for the Brunei PMB Project

Release Date:

2018-02-08

2018 2 month 5 Date: Lou Jianchang, Vice President of Hengyi Petrochemical Co., Ltd.; Vice President of Hengyi Petrochemical Co., Ltd. and Hengyi (Brunei) Industrial Co., Ltd. Chief Executive Officer Chen Liancai, Deputy General Manager of Hengyi (Brunei) Industrial Co., Ltd.: Zhang Liqun, Xu Ye, and their delegation paid a fact-finding visit to our company.

Mr. Yang Daibin, Chairman of our company, personally welcomed and escorted the client on a tour of our production workshops and R&D center. Subsequently, under the chairmanship of Mr. Zhang Yong, Chief Financial Officer, Chairman Yang Daibin, together with Vice President of Production Huang Min and relevant project personnel, held a nearly two-hour business meeting with the visiting client. Given that our company is a major supplier for the Hengyi (Brunei) PMB Project, we provided a detailed update on the progress of ongoing projects, as well as the adverse impacts encountered during implementation and the corresponding mitigation measures. We pledged to make every possible effort to ensure the timely completion of all projects currently under execution.

At the conclusion of the meeting, Hengyi expressed its desire to establish a long-term, stable, and friendly partnership with Boneng. Both parties agreed to build upon their existing cooperation while adhering to the principle of mutual benefit and win-win outcomes. On the premise that the PMB project is delivered on schedule, should Boneng encounter any issues or difficulties during project execution that require the owner’s consultation and assistance, the owner will do its utmost to coordinate and provide support to help Boneng overcome these challenges. At the same time, our side commits to doing everything possible to meet the owner’s requirements and to spare no effort—regardless of cost—to ensure the success of the Brunei project. PMB On-time delivery of the project.