On October 15, 2018, the 41^st Directors Exchange Activity of China Entrepreneur Club was held in Sinochem Quanzhou Petrochemical Co., Ltd. (Sinochem Quanzhou Petrochemical), a subordinate company of Sinochem Energy. Chairman of Sinochem Group Mr. Frank Ning, President of Sinochem Group and Chairman of Sinochem Energy Mr. Zhang Wei, and President of Sinochem Energy Mr. Jiang Zhenghong led more than 10 directors to visit Sinochem Quanzhou Petrochemical and introduced the business development plan of Sinochem Energy.

Mr. Frank Ning introduced that the Phase II Project of Sinochem Quanzhou Petrochemical will further extend to the downstream sector to produce products with higher added value and technical content. At present, the overcapacity of related industries in China will gradually eliminate some inefficient and backward production capacity. Now, Sinochem Energy is implementing the refining-chemical integration project and further extending to the downstream sector, in order to avoid the competition of fuel oil and search for new room for development. Sinochem Quanzhou Petrochemical enjoys great geographical advantages, market and second-mover advantages, and Sinochem Group has great confidence in its performance.

Mr. Zhang Wei stated that Sinochem Energy will take technology as the driving force to promote trade, refining, logistics, petrochemical product sales and other businesses in the process of digital construction, optimize its technology management level, connect each process of the supply chain, and build the industrial Internet.

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