The Third Open Letter From Sinochem International President To All The Shareholders

Respectful shareholders:

It took 49 days for Sinochem International to finally put an end to the pilot reform of equity disposal. Through the active voting by 85.97% of the and 56.44% of the tradable shareholders, the scheme of the reform got passed with 96.43% of the shareholders and 83.9% of tradable shareholders standing by. Hereby, on behalf of the board of directors, I would like give my sincere appreciation to all the shareholders, thank you!

We really appreciate the shareholders for their great support full of understanding and concerning.

We also appreciate the shareholders who didn't vote for the scheme, for their over-absorption of mind giving us warnings and spurring.

Appreciation also goes to shareholders who didn't take either side, choosing to go along with our company, though confused.

With reverence and awe, my colleagues in the board of the directors and I red and accept every vote. We sincerely appreciate the efforts made by every shareholder!

As a State-holding listed company making arduous transition to market business and a pilot of the reform of equity disposal which once had very dispersed tradable shares, we have experienced a exercise and a unprecedented communication. We have learned the expectations shareholder of different types hold upon the development of the company, their demand for issuing bonus and maintaining price, and their advises toward the dealing with relationship between the company and the investors as well as the image upholding. All those expectations, demand and advises that we have listened for many times before have made the communication this time more truly and unforgettable, from which we will benefit a lot in improving our work. In the days followed, We will carefully put demand and suggestions from shareholders into effect and never let them down.

The accomplishment of the reform of equity disposal will unify interest and goals of the large shareholders, small shareholders and administering authority, thusly contributing to the enhancement of the company governance level, the perfection of business performance, the image and price maintenance and the pragmatic guarantee for shareholders' interest when bonus are issued and stock price appreciates. We ensure all the shareholders that we will work hard on things in the fundamental interest of the shareholders and the company as a whole.

What the reform brings to us is a win-win situation among shareholders, between shareholders and the administering authority, and between the company's present and future. The reform was like a quick and sudden exam, with all the exam sites, judgers, and examinees not prepared enough.
However, Sinochem International has finally survived it. In the days followed, more harder exams are waiting for the board of the directors and the administering authority. Taking reference from this exam, depended on all the shareholders, staffs and their teamwork, in light of the company culture of "to be a trustworthy person and to work carefully" , we are ready to hand in satisfactory exam paper to our shareholders.

We once again express our thanks to every shareholder for their voting!

Sinochem International
President Luo Dongjiang