We released the "14th Five-Year Plan" strategic plan in 2021, anchoring the development direction and development path of the stage, and making a clear setting of the development goals within 2030.

In 2023, as a key year for the Company's transformation, we will consolidating iron ore and oil & gas businesses, continue to expand the scale of clean energy business represented by natural gas through the development mode of "green transformation", and continue to expand new energy by relying on the strategic position of the Hainan Free Trade Port, move towards the situation of parallel development of the three main businesses of "iron ore + oil and gas + new energy".

In 2023, we will strive to realize the finished mineral production of 2.73 million tons, the oil and gas output of 5.73 million barrel equivalent, and the oil and gas sales of 4.44 million barrel equivalent; ensure the mining construction project of-120m~ -360m to complete the annual excavation plan and the commissioning of the end of the magnetic roasting project; promote the hydrocarbon stripping pressurization project in Bajiao gas field, and strive to achieve formal production in April.

As an important part of new energy industry layout, we will actively promote the construction of 20,000 tons of lithium hydroxide (phase I), and strive to achieve the goal of completion and putting into operation in the first half of 2024. In addition, after the completion of the equity delivery of the Bougouni lithium mine, we should jointly accelerate the project development and construction with the partners.

We will rely on the platform advantages of listed companies to provide financial guarantee for the development of direct financing. Continue to focus on the "14th Five-Year" strategic planning goals, focus on the investment and merger in the field of resources and energy, at the same time strengthen the post-investment operation of investment and merger projects, and quickly and efficiently integrate the new business with the company's existing business by management empowerment, technology export, talent introduction, equity incentive and other ways.

In addition,we will adhere to the digital orientation and lean management, continue to reduce costs and increase efficiency; promote the launch of various management systems according to the plan; continue to promote the implementation of scientific research projects and patent application of intellectual property rights, based on the platform of Technology Center and academician workstation, and universities, research institutes.

同时，公司将不断继续完善组织进化和激励机制，完成2022年限制性股票激励计划预留部分的授予。此外，结合公司氢氧化锂、磁化焙烧、Bougouni锂矿等重点建设项目进展，做好运营组织机制建设。

In 2023, we will expand the global layout of mineral resources industry, strengthen the management of overseas subsidiaries, expand overseas financing methods and channels, and attract international compound talents to meet the needs of external development.

In addition, we will continue to emphasize ESG efforts, promote the construction of green mines, lean mines, smart mines and cultural mines; continue to strengthen corporate governance and compliance management, close communication with shareholders, institutions and small and medium investors.

The board of directors and management will continue to be diligent and responsible, strengthen operation and management, promote the sustainable and high-quality development of the company, repay the majority of investors with excellent results, and share the development dividend of the company with all shareholders.

Yours sincerely