Time series changes, and over time, new things emerge. 2024 is a year of steady progress and courage for Shangwei New Materials. Faced with uncertain macro environment and fierce market competition, the company closely adheres to the national development strategy, steadily implements the dual carbon goals of "carbon peak and carbon neutrality", and continues to promote the creation of environmentally friendly, green, and low-carbon new materials to support high-quality development. The company's mission is to provide circular and sustainable products and services, with the vision of becoming a respected high-performance materials company in the fields of green energy, environmental protection, and safety, and ultimately becoming a globally renowned brand. We comprehensively and comprehensively practice ESG concepts, explore new paths and ways of ESG development, and promote the company's sustainable development.

The business transformation has been effective, actively creating green new momentum and supporting high-quality development. As a major global supplier of environmentally friendly and corrosion-resistant resins, and a leading global manufacturer of recyclable resins, the company is committed to providing circular and sustainable products and services in the fields of green energy, environmental protection, and safety, providing solutions for domestic and foreign enterprises to address carbon neutrality. In 2024, the company will firmly implement the decisions and arrangements of the board of directors from the perspective of the interests of all shareholders. During this period, although the company's high-performance composite materials business was under pressure, it was evolving towards a "new" direction, and circular economy materials were expanding towards a "deep" direction. The momentum for environmental protection, green, low-carbon, and high-quality sustainable development was strong. In the process of continuously enriching downstream application scenarios, the company's business has expanded from energy conservation and environmental protection, new energy fields to circular economy materials, low altitude economy, energy storage and other fields. By providing environmentally friendly, green, low-carbon, high-quality product quality and excellent product performance, it has won wide recognition from customers and continues to create green new momentum, consolidating future growth potential.

Comprehensively and comprehensively implement ESG concepts, explore new paths and ways of ESG development. 2024 is a significant year in the company's development history. The company deeply benchmarks against world-class enterprises, with high starting points, high standards, and high requirements, comprehensively and comprehensively practicing ESG concepts, focusing on governance structure, management system, supervision mechanism, and other aspects, continuously improving the company's modern governance level. In 2024, in order to promote ESG work, the company made significant adjustments to its management system, renaming the "Strategy Committee" under the board of directors to the "Strategy and Sustainable Development Committee", elevating ESG work to an unprecedented important position for the company; With the help of professional expertise both inside and outside the company, actively responding to regulatory suggestions, benchmarking against first-class standards, and fully promoting the compilation of ESG reports, positive results have been achieved; By compiling ESG reports, developing short, medium, and long-term plans, continuously improving governance structures, and enhancing modern governance levels.

Based on high quality, we work together with suppliers, employees, customers, and others to create a happy life. For upstream suppliers, the company incorporates ESG factors into important considerations for selection and management to ensure that the supply chain meets sustainability and social responsibility standards. By creating an open, transparent, and scientific management mechanism, the company shapes a healthy and sustainable supply chain system. For employees, it is necessary to enhance their material sense of gain through improving welfare benefits, perfecting incentive mechanisms, and facilitating promotion mechanisms, as well as to enhance their spiritual satisfaction through various forms of cultural and sports activities and diverse social activities. For customers, we have won their recognition by providing environmentally friendly, green, low-carbon, high-quality product quality and excellent product performance.

2025 is a crucial year for achieving the goals and tasks of the 14th Five Year Plan. We will continue to adhere to the overall strategy of high-quality development, based on win-win cooperation between supply chain partners and downstream customers, and taking the construction of a material system for circular economy materials as the starting point. While promoting the deep expansion of our business field, we will actively create green new momentum and help promote high-quality development.