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Mid-year Working Meeting was Held in Beijing

Date:2006-08-18 Source:Sinochem Group

From July 31st to August 1st, 2006, Sinochem Corporation held its mid-year working meeting in Beijing. The purpose of the meeting is to summarize the work for the first half of 2006 and arrange the work for the second half of 2006. The meeting called for Sinochem’s business units to pursue for high performance, reinforce the management, enhance the operation quality, strengthen risk management and fulfill the whole year target.

The meeting was chaired by Mr. Pan Zhengyi, Vice President of Sinochem Corporation. 176 people from Sinochem’s senior management participated in the meeting. Mr. Li Shousheng, the Director General from SASAC and Mr.Ye Xiangxun from SASAC’s Supervision Panel also were present at the meeting.

In the first half of 2006, Sinochem has maintained its strong business momentum. It had accomplished 53% of the whole year budget in terms of sales revenue, a 5% increase and 69% in terms of before-tax profit, an 17% increase.