As a new year dawns and new chapters unfold; the Year of the Snake ends and the Year of the Horse ushers in spring. At this joyous moment of bidding farewell to the old and welcoming the new, on behalf of the Company and the CPC Committee of the Company as well as in my personal capacity, I would like to extend my sincerest greetings and best New Year wishes to all staff and their families working on all posts, our long-term partners and friends from all walks of life who have marched alongside us.

Looking back on 2025, Xinggang has traveled an extraordinary journey fraught with hardships. Every step we took bears the mark of hard work and perseverance; every difficulty we surmounted will be etched into Xinggang’s history as unforgettable memories. Amid volatile market conditions and mounting environmental protection pressures throughout the year, we kept a firm grip on the bottom line of workplace safety, enhanced internal management, cut costs and boosted efficiency, and ensured stable blast furnace operation, striking a balance between annual production and sales. Thanks to persistent technological R&D, multiple technical achievements reached internationally advanced standards. A portfolio of high-end special steel grades featuring superior technical content and performance was launched onto the market, further consolidating the brand influence of Xinggang. Meanwhile, construction of the new factory proceeded as scheduled with accelerated progress in ironmaking and steelmaking workshops, and the hot rolling line for large-diameter coil products was successfully commissioned. Solid strides have been made in the Company’s transformation toward an innovation-driven, smart, eco-friendly and low-carbon development model. Here, I pay my highest respect and heartfelt gratitude to every dedicated, responsible, committed and accomplished Xinggang employee!

The year 2026 marks the kickoff of China’s 15th Five-Year Plan, and for Xinggang, it is a pivotal year to emerge from downturn and achieve revitalization. A new Xinggang sets new targets and embarks on a brand-new journey. In the new year, we shall align our minds and pool strengths with firmer resolve and a broader vision to address immediate issues while mapping out long-term development priorities. Centering on two core tasks: stable production and operation of the old plant plus construction and commissioning of the new plant, we will consolidate the foundation of safety and environmental protection with pragmatic measures, stick to the core guideline of stabilizing output, upgrading product quality and reducing costs to improve operational efficiency and risk prevention capacity. With forward-looking insights and stringent process standards, we will deepen product development focusing on high-end, precision, sophisticated and specialty steel products to sharpen the Company’s core competitiveness. We will go all out to advance the new plant construction toward scheduled commissioning through cross-department collaboration, striving to build the new Xinggang into an internationally benchmark enterprise for high-end, intelligent and green special steel long products.

Endless journeys await nothing but persistent striving; a fresh voyage has begun toward future growth. Upon full operation, the new Xinggang will build a green industrial chain for high-quality development adopting combined ultra-short and short-process production technologies, which is well-aligned with the national 15th Five-Year Plan. Favourable policy support will unlock broader room for the Company’s development. Tempered by past trials and challenges, all Xinggang staff will unite as one, forge ahead, strengthen internal management, tap potential, pursue innovation and accelerate transformation in 2026 to compose a brilliant new chapter of high-quality development.

As the Spring Festival of the Horse draws near, I wish everyone a propitious New Year, happy family life and all the best! May the business of the new Xinggang forge ahead in the lead with booming growth, full of vitality and accomplish great successes! May our motherland enjoy magnificent landscapes, favourable weather, peace and prosperity forever!