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Chairman's Message

Dear Valued Shareholders,

In 2022, with the easing of the COVID-19 pandemic, the global economy and social activities have steadily recovered. The global economic situation in 2022 continues to maintain a steadily upward trend. The green economy is gradually becoming a new engine for global economic development, promoting industrial upgrading and economic structural transformation. Most countries are increasing requirements on environmental protection, and the use of manganese in steel production will also pay more attention to environmental protection standards. Therefore, more and more companies are seeking more environmentally friendly manganese production technologies, which can reduce emissions of pollutants and improving on production efficiency.

During the year, the silicomanganese industry in China experienced measures such as energy consumption control, capacity substitution, and elimination of backward capacity. The size and concentration level of the industry has enhanced, and the bargaining power heading of alloy companies has gradually increased compared to previous years. The development of silicomanganese industry in China has gradually changed from scattered, small in level, and chaotic to maturity.

In the past year, the Group has continued to maintain a strong development momentum, achieving historical high level in revenue and profits. The development momentum of the five core business segments has continued to increase, and the layout of the industrial chain upstream and downstream has been further improved. In the face of challenging market competition, we have continuously strengthened our core competitiveness.

Green Development and Full of Vitality

The Group adheres to the concept that “lucid waters and lush mountains are invaluable assets”, increasing investment in clean production, and enhancing the utilization level of manganese slag resources. We accelerate the ecological rehabilitation project of creating a national green mine benchmark, where by two affiliated companies are appraised with “Guangxi Digital Workshops” and “Guangxi Green Manufacturing Enterprises”.

At the same time, we seize the opportunities brought by Regional Comprehensive Economic Partnership (the“RCEP”), and successfully handle the first RCEP certificate of origin to Japan on the first day of implementation. We also opened up the Central Asian market for the first time, exporting products to Kazakhstan, an important country along the “Belt and Road”. The cooperation between government and enterprises and banks is also flourishing. We jointly established the Beibu Gulf (Guangxi) Commodity Trading Platform and Beibu Gulf Canal (Guangxi) Industrial Co., Ltd. with Qinzhou City, and successfully entered into the strategic cooperation agreement with Guangxi Beibu Gulf Bank.

Technological Innovation and Leading the Industry

The importance of technological innovation has received increasing attention from the industry. The Group has always placed great importance to scientific and technological research and development and continuously improved the our technological innovation. In 2022, the Group was selected as the first batch of manufacturing single-item champion demonstration enterprises in Guangxi, and the key technology and industrialization project of high-performance lithium-ion battery cathode materials won the second prize of the Autonomous Region Science and Technology Progress Award. The Group continues to enhance its own research and development and technological innovation capabilities and moves steadily towards many national-level scientific and technological honors such as “National Intellectual Property Demonstration Enterprise” and “National Technology Innovation Demonstration Enterprise”.

The Group has always been one of the leaders and pioneers in the industry. We not only undertook the Manganesebased New Energy Materials Summit Forum and Niobium Application in Battery International Symposium in 2022 but were also participated in the 19th China-ASEAN Expo and China-ASEAN Business and Investment Summit activities, successfully accessing the Central Asian market and exporting products to Kazakhstan. We have further expanded our international market network.

Remembering Responsibility and Contributing Actively

The Group always treasures our corporate social responsibility, actively responds to the country’s call and continuously optimizes management and business models with green development as the goal. In 2022, the Group was honored with the list of “Guangxi Digital Workshop” and “Guangxi Green Manufacturing Enterprise”, and became a national harmony labor relationship creation demonstration enterprise and a national worker pioneer. During the pandemic prevention and control period, the Group posteriorly took the initiatives to contribute our volunteer spirit, providing assistance and support to local residents and medical institutions.

Meanwhile, as a socialist enterprise, the Group always implements corporate social responsibility, continuously cares about employee welfare and social contributions. We have made active contributions to the economic and social development of the local area. In the manganese industry special event of the Chongzuo Vocational Skills Competition, the Group, as the organiser, explored a new path for building a high-quality and highly skilled workforce for enterprises in border ethnic minority areas.

Looking forward to the future, the mission is far from completion

On behalf of the board of directors, I would like to express my sincere gratitude to all the directors, management, and staff for their unity, struggle, concerted efforts, and hard work. I also would like to express my sincere gratitude to all shareholders, customers, and business partners for their continued trust and support to the Group over the past year.

Struggle creates miracles. Although the road is long, we will arrive; although the task is difficult, we will accomplish it. 2023 is the year of implementing the spirit of the 20th National Congress of the Communist Party of China, and it is also the 60th anniversary of the Group’s establishment. We will continue to deepen the strategic layout of the five business segments, use the “Five-Focuses-one-Reduction” as the starting point for our work, keep abreast of national policies, seize opportunities, and use a sense of urgency without hesitation and a sense of crisis of “cannot be slow”, with the confidence by way of hard working and the determination to comfort and everyone has a responsibility, and everyone contributes, to continuously create new chapters for the Group’s development and meet the Group’s 60th anniversary with promising results.


Li Weijian
Chairman
29 November 2023