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Over the past year, China Orient Asset Management Co., Ltd. (hereinafter referred to as “China Orient”), in face of severe and complex domestic and foreign economic situations, has been adhering to the instruction of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and the general principle of seeking improvement in stability, while steadily boosting various key work, with returning to the main business of non-performing assets as core, serving the real economy as orientation and preventing operation risks as guarantee, thus finally enabling the group to achieve steady improvement in both operation level and management capability.

Return to the main business and intensify efforts to business launch for better business structure. In 2018, in compliance with economic situations and regulatory requirements, the company granted top priority to the development of non-performing assets (its main business) throughout the year, and has acquired great results through strengthening the launch, continuously optimizing the mode and expanding the scope and depth of non-performing asset business while promoting the transformation and upgrade of non-performing asset disposal models. As a result, the amount of non-performing assets launched by the company throughout the year totaled 153.812 billion yuan, up 133.43% year on year. By the end of 2018, the balance of the parent company’s non-performing asset business totaled 193.003 billion yuan, an increase of 125.79% from the beginning of the year.

Highlight business emphasis and expand customer network for higher efficiency in serving the real economy. In 2018, the company regarded serving the real economy as both starting point and objective for its returning to the main business, and kept intensifying the pertinence and effectiveness in the support of finance to the real economy. With a commitment to the strategy of serving the real economy, the company deeply involved itself in crisis relief to listed companies and entity enterprises, so as to help them resolve liquidity crisis, and handle such issues as reorganization against bankruptcy, disposal of inefficient assets and upgrade of industry structure through such means as market-oriented debt-to-equity swap and relief fund. Thanks to the adoption of a series of effective measures, the company has achieved broader distribution of industries where its customers originate, more diversified business cooperation and significantly improved customer quality.

Standardize corporate governance and strengthen risk control for improved compliance operation. In 2018, the company organically combined the coordination of Party building with the standardization of corporate governance, and incorporated party building into its articles of association, while continuously improving the governance system featured by clear rights and liabilities, scientific management and effective checks and balances, so as to continuously improve the its management level and decision-making efficiency. In addition, it also strictly abode by the bottom line of compliance operation, actively cooperated with external inspection, fully implement new regulatory requirements, transformed financial regulation and external inspection into the driving force to improve internal control, prevent risks and standardize businesses, and improved the effectiveness of internal control mechanism and the reliability of risk prevention with the help of external regulation.

Serve national strategies and highlight the role as a state-owned company for larger contribution to poverty alleviation and public welfare. In 2018, the company resolutely implemented various requirements of the central government for poverty alleviation, intensified the efforts to fixed-point poverty alleviation, designated in succession poverty alleviation cadres, developed characteristic poverty alleviation relying on its professional advantages, promoted “finance + education” poverty alleviation mode, set up poverty alleviation and education funds, and launched “characteristic agricultural insurance for targeted poverty alleviation” and other financial products, in hope of helping poverty alleviation objects out of poverty. 2019 will be a crucial year for China Orient to complete business adjustment and transformation and achieve innovative development. We will continuously adhere to strategic confidence, maintain strategic composure, stabilize development pattern, practice new development concept, seize opportunities in the new era, carry on with prudent and compliant operation, promote forward the main business, ensure stable progress of business innovation, and forge ahead in the way toward high-quality and sustainable development, so as to create new development patterns for the company under new situations and pay tribute with excellent performances to the 70th anniversary since the founding of the People’s Republic of China and the 20th anniversary since the founding of the company.