Dear colleagues and friends,

2018 is the fifth year since we have continued to make changes to get out of the sluggish growth in 2013. This year, we are more determined to change, clearer about the direction of development, continue to practice the four development keywords "technology, professional, co-creation, sharing". We are pleased to see that the revenue of New Hope Liuhe has achieved strong growth in 2018, recorded profits in poultry industry and sales of feed, and major breakthroughs in technological innovation. These are the primary results of sustained change and encouraging results of human efforts and good environment. Thank you all for your hard work!

Over the past year, technology has become a core driver of our company. We have established five research institutes, and the scientific research force is becoming more and more prominent. We have cooperated to breed the national brand of New Beijing Duck, which breaks the situation that the breeding of white plumage meat duck in our country depends on foreign breeds; we have taken the lead in promoting bio-environmental protection feed in the country, the cumulative sales volume of more than 1 million tons; we have created a new three-layer and three-dimensional net culture model, with the effective area of aquaculture increased by more than 30%.

Over the past year, we have launched organizational change innovations aimed at building a functioning agile organization. The organizational structure of the company has been adjusted to four specialized operating units, the traditional management has been improved, and three specialized pig-raising teams have been built, and the continuous mining of the breeding cost is close to the leading edge. The company's business will develop in a professional and in-depth direction, and the overall competitiveness will be stronger.

Entering 2019, how to maximize the income of each chicken or duck in the poultry industry depends on opening up the market not only in the base but also in the terminal. Only in this way can we achieve an absolute market share leading to obtain the industry advantage. In order to achieve the new development breakthrough of doubling pig feed in three years, the feed industry needs to focus on the following three aspects of purchasing, research and development, and sales. In the harsh environment of African swine fever, we need durable determination and execution to improve the level of swine industry and ensure the overall leading in cost and scale. Overseas business to promote market focus and training of local talents, is also a priority in 2019.

Time only rewards those who keep running, and only through continuous cultivation can long-term value be created. There is no halftime on the new journey and we will face even greater challenges in the coming year! We still have a lot of work to do for the successful achievement of long-term strategic objectives after organizational reform, and we need to be more thoughtful. Specialized operation in diverse businesses requires front and rear line colleagues to reach an agreement on the detailed management and focus on working together to achieve our long-term value goals!

The support department of the company's headquarters shall earnestly improve its service capability, use information technology to empower the industry, and flexible incentive mechanisms to activate different businesses, put people who dare to speak the truth in the right place, use digital management, strengthen communication and coordination, and strive to hold a common goal to try our best to work.

With the joint efforts of 60,000 employees of New Hope Liuhe Group, we are closer to our goal of becoming a world-class agro-food company and a prosperous company. Standing at a new starting point to look forward to the future, I hope we can forget the past achievements, and make a fresh start.