On Jan. 19^th, SDIC Group held its Annual Meeting in Beijing.

Chairman Bai Tao reviewed the touching experiences of nearly 50,000 SDIC employees had in combating Covid-19, resumption of work and production and poverty alleviation in 2020. The year 2020 was the closing year of the 13^th Five-year Plan. In the past five years, SDIC witnessed steady growth of operating revenue and upgrading of business structure, which ranking on top of all the central SOEs. In 2020, SDIC realized a profit of 22.1 billion RMB yuan with a 10.3% year on year increase, and a net profit of 17.6 billion RMB yuan with a 9.5% year on year increase, both of which hit historic high.

2021 was the starting year of the 14^thFive-year Plan as well as the launching year of making a New SDIC. Firstly, we would make new achievements in establishing more pro-market and more vitalized mechanisms. We should stick to market-oriented development and establish all compatible mechanisms for a world-class capital investment company with a view to giving incentives to our potentials. Secondly, we should make new achievements in streamlining business structure. We should fine tune infrastructure-related industries, specialize in newly emerging industries and constantly improve financial services. We should realize the complementary development of cyclic and non-cyclic industries as well as the synchronized development of industries and financial services. We should enhance risk resistance potent and achieve steady development. Thirdly, we should make new achievements in enhancing operation revenues. We should stick to high-quality development and scaled sustainable development. Fourthly, we should make new achievements in giving full play to a capital investment holding company, and nurture a group of leading companies in several sub-divided areas with a view to enhancing the influence of New SDIC brand.