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Dear Shareholders,
 
In 2017, with strong support of all the shareholders, the Board of Directors, while adhering to the development philosophy of focusing on quality and efficiency, and the goal of maximizing the shareholders’ interest, led all the staff of the Company to make joint efforts and forge ahead, grasped the opportunity to build on the good momentum, and made further progress through reform and development. We have made solid progress toward realizing the goal of creating a world-class enterprise with global competitiveness.

The journey has been gratifying and diligence always pays off. In 2017, the Company has remained on the Global Top 500 New Energy Enterprises list for the fourth consecutive year. In capital market, the Company was awarded “Listed Company with Most Investment Value in the 13th Five-Year Plan” of the 7th China Securities Golden Bauhinia Award, as well as the highest corporate governance award “Platinum Award” and the special category award “Best Environmental Responsibility Award”, both presented by “The Assets”. The development of the Company was highly recognized by the public, and its market image and influence was further improved.

The stable environment contributes to our development. The year of 2018 marks a key year for the Company to deepen its reform and make innovation in its development. The new energy industry is confronting a complicated situation with both opportunities and challenges. Facing the new situations and requirements, the Board of Directors will take the analysis, research and decision-making process seriously, proactively adapt to the development trend of the new energy industry, scientifically evaluate the industrial policies and market situation, firmly seize the opportunities for development, continuously explore new methods to overcome development problems and nurture new profit models, so as to further enhance the competitiveness and profitability of the Company and create stable return growth for its shareholders.

Finally, on behalf of the Board of Directors, I would like to extend my sincere gratitude to all shareholders, investors, the public and our friends for their long held trust and support!                                                                                                                                                                                LIN Gang
Chairman

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