On December 14, 2018, Sinochem Energy signed a strategic cooperation agreement with China Transport Telecommunication Information Group Co., Ltd (hereinafter referred to as “CTTIC”). According to the agreement, Sinochem Energy High-Tech Co., Ltd., a subsidiary of Sinochem Energy, will establish a long-term, comprehensive and in-depth strategic partnership with CTTIC for data, platform and project cooperation, in order to jointly build a professional, information-based and international modern transportation service system in China, improve the cost reduction and efficiency of petrochemical supply chain, and promote the safety and governance of the industry.

Mr. Zhong Ren, Vice President of Sinochem Group and Vice President of Sinochem Energy, and Mr. Cao Desheng, Director of China Transport Telecommunications & Information Center and Chairman of CTTIC signed the agreement on behalf of the two parties.

In his speech, Mr. Zhong Ren thanked leaders of the Ministry of Transport and China Transport Telecommunications & Information Center for attending the signing ceremony. He pointed out that after Mr. Frank Ning, Chairman of Sinochem Group, proposed the concept of “In Science We Trust”, which triggered the innovation-oriented transformation and reform of Sinochem Group, Sinochem Energy has been forging advantages in petroleum refining, petroleum trade, warehousing and logistics business, seizing opportunities to promote the transformation and upgrading of the petrochemical industry; actively promoting the construction of “Internet Plus” intelligent energy, and vigorously using technology and data to empower the petrochemical industry chain and build an intelligent petrochemical supply chain. The strategic cooperation with CTTIC will make use of the intelligent supply chain to promote the development of traditional petrochemical industry, and explore opportunities for government and enterprises to establish cooperation under the new situation of “Internet Plus” reform.

Mr. Cao Desheng said that the core business of China Transport Telecommunications & Information Center includes formulating policies and standards for the communication, navigation, radio and information management in the transportation industry, approving national ship radio communication, water traffic frequency management, managing and providing data services for the Ministry of Transport’s System of “Two Kinds of Buses and Vehicles Carrying Dangerous Goods” (which mainly include long-distance buses, travel chartered vehicles and special vehicles carrying flammable and combustible materials). After establishing the strategic alliance with Sinochem Energy, China Transport Telecommunications & Information Center will spare no effort to promote the development of each other’s undertakings based on the principle of “resource sharing, complementary advantages, common development, mutual benefits and win-win results”.

Before attending the signing ceremony, the delegation led by Mr. Cao Desheng also visited the Exhibition Hall of Sinochem Group, which is located in Chemsunny World Trade Center.

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