Now is the time to ride the wind and rise, pragmatically advancing to compose a new chapter.

As the year turns and the journey unfolds like a rainbow, on the occasion of the new year, I would like to express my heartfelt gratitude and best wishes on behalf of the company's party committee and leadership team to our superior units, numerous clients, partners, and friends from all walks of life who have always cared for and supported us! I extend my highest respect and New Year greetings to all employees and their families who are dedicated, innovative, and united in their efforts!

The year 2024 marks the 75th anniversary of the founding of New China and the 70th anniversary of the company's establishment. Under the guidance of Xi Jinping's Thought on Socialism with Chinese Characteristics for a New Era, all employees of Fenxi Heavy Industry focus on their main responsibilities, accelerate industrial upgrades, and promote the development pattern of 'one strengthening, two advancements, three focuses', seeking truth and pragmatism, striving vigorously, exceeding the annual task goals, with major economic indicators growing rapidly and operational quality continuously improving.

This year, we have kept in mind the 'great matters of the nation', leading the development direction with high-quality party building, solidly carrying out party discipline education, and effectively strengthening the awareness of compliance and discipline among party members and cadres. We have shouldered political responsibilities, strictly and practically addressed various inspection rectifications, and effectively transformed the results of rectifications into the company's governance effectiveness.

This year, we have strengthened strategic leadership, with core capabilities becoming more prominent. The scale of the motor industry has stabilized at 1 billion units, maintaining a leading position in the localization of high-end ship market supply. The gas industry has entered a fast track of development, with new contracts signed increasing by 48.92% year-on-year, and total profits growing by 45.05% year-on-year, achieving batch orders exceeding 10 million in multiple fields. The DC networking technology has made further progress, with significant increases in completed deliveries and new contracts throughout the year, breaking through 500 actual ship cases, and the Fujian subsidiary successfully opening and starting production, laying a solid foundation for expanding the capacity of DC networking power systems and exploring the new energy ship market.

This year, we actively participated in the construction of the 'Belt and Road', opening new horizons in overseas markets. We signed contracts for over 80 overseas export motors, and signed five projects for the Guinea heavy oil power station, with a total contract amount reaching 120 million USD; we signed and delivered export nitrogen facilities for oil field support; and the DC networking technology has broken into the overseas market with over 80 ships, accounting for more than 20% of the new contracts signed this year.

This year, we adhered to innovation leadership, achieving significant results in technological innovation, winning 11 provincial and ministerial-level science and technology awards, receiving a second prize for national scientific and technological progress, and a second prize for national defense scientific and technological progress; passing the review of the national-level enterprise technology center; one provincial advanced technology innovation center for national defense and two provincial national defense technology innovation teams have been recognized; the jointly built provincial key laboratory has been approved, and multiple technical special projects from the Ministry of Science and Technology and the Ministry of National Defense have passed acceptance; major scientific and technological projects from the Ministry of Industry and Information Technology have been approved for establishment.

This year, we adhered to integrity and innovation, vigorously developing new quality productivity, promoting the upgrade and structural optimization of the company's civilian product industry. The motor shares completed capital increase and stock incentive, and both motor shares and Saisiyi obtained the national-level 'specialized, refined, distinctive, and innovative small giant' title, while Jieli Gas successfully passed the group company's 'application industry specialized, refined, distinctive, and innovative' enterprise recognition. We strengthened system construction, providing important support for the smooth progress of the company's scientific research and production through quality management system supervision audits, qualification expansion audits, and on-site inspections for research and production licenses.

This year, we created value together and shared results. Looking back on the 70-year journey of building the factory, we organized a series of activities to enrich employees' lives and enhance their cohesion; we addressed practical matters for employees, raised subsidy standards, completed salary adjustments, and increased corporate annuities, further enhancing employees' sense of happiness.

Looking back on the journey, the mountains are far away; looking ahead, the spring is in full bloom.

The year 2025 is the concluding year of the '14th Five-Year Plan' and the year for planning the '15th Five-Year Plan'. It is of great significance and responsibility to do well in next year's work. Let us take one step at a time to implement the decisions and deployments of the Party Central Committee, transforming the blueprint for high-quality development into a beautiful reality, and successfully completing the goals and tasks of the '14th Five-Year Plan'.

The road is simple, and practical work is essential. In the hopeful year of 2025, we will adhere to Xi Jinping's Thought on Socialism with Chinese Characteristics for a New Era as our guide, prepare for the future, and plan ahead for the '15th Five-Year Plan' with a scientific and rigorous attitude, strengthen party building, advance our main responsibilities, promote industrial upgrades, focus on technological innovation, talent strategy, and cost management, injecting continuous vitality and momentum into the company's development, fulfilling the employees' earnest expectations for a better life, and striving unremittingly to become an industry-leading enterprise with the best innovation momentum, strongest core capabilities, best industry reputation, and highest happiness index.

In 2025, let us embrace the stars, walk in the light, and take another step forward on the plateau!
Wishing our great motherland prosperity and peace!
Wishing everyone a Happy New Year, prosperous careers, family happiness, and all the best!