Sinochem International Changed Its Name

In Sep., approved by the State Administration for Industry and Commerce, in Shanghai Municipal Bureau of Industry and Commerce, Sinochem International Trade Co. Ltd. changed its name to Sinochem International (Share-holding) Co. Ltd., which is officially put into use recently, with its abbreviation "Sinochem International" still used.

For six years since its establishment, Sinochem International had always work on the building and optimizing corporate governance, promoting the market-oriented strategy of the company, in order to strengthen its core competitiveness and to raise its capability of keeping sustainable development. During the three years after it moved to Shanghai, the company has witnessed continuous improvement of business performance and managerial level. In 2003, the sales revenue of the company exceeded 10 billion RMB Yuan and net profit totaled 260 million RMB Yuan, hitting historical highs. For the first half of this year, the company realized a sales of 5.5 billion and a net profit of 580 million. The growth rate of return of each stock ranked the 8th in the Shanghai and Shenzhen Stock Market while the net ROA ranked the 4th, and the social trustworthiness ranked the 7th. It was estimated that the profits of this year would reach a record-high again. By the middle of 2004, added value made by the company for shareholders has exceeded 700%. From Jan. to Aug., the contribution of the company to the investment value increase of original shareholders has exceeded 700%. From January to August, the increase margin of the company stocks ranked No.9 in the Shanghai Stock Exchange. In addition, Sinochem International has got in the list of Fortune Top 100 Chinese Listed Companies in row and was incorporated into the 180 index of Shanghai Stock Exchange.