——New Year's Address 2023 by Zeng Bin, Chairman and CEO of Jiebeitong Group
　　Time flies. In the blink of an eye, the calendar of 2022 has turned to its last page. On the eve of New Year's Day 2023, on behalf of the company's board of directors and management, I would like to extend my sincerest New Year's greetings and best wishes to our valued users who trust and support our products and technologies, friends from all walks of life who care about and support our development, all the hardworking employees of the company, and the family members who strongly support the company's work.

　　
↑Zeng Bin, Chairman and CEO of Jiebeitong Petroleum Technology Group

　
　　2022 was an extraordinary year! The successful convening of the 20th National Congress of the Communist Party of China (CPC) has outlined a grand blueprint for the future development of our country. The timely and comprehensive relaxation of the COVID-19 prevention and control policies has injected enormous impetus into the recovery and development of China's economy and society. The successful convening of the 2022 Central Economic Work Conference has comprehensively deployed China's economic work in 2023, reaffirming the importance of the private economy through "two unwavering" principles, clarifying the positioning and requirements of the private economy at the institutional and legal levels, stabilizing the confidence of the private economy, strengthening the expectations of the private economy, and consolidating the foundation for the development of the private economy. We can clearly expect that China's economic development in 2023 will be comprehensively favorable.

↑Jiebeitong CPC Branch "Learning the Spirit of the 20th National Congress" Themed Organizational Life Meeting

　　2022 was also an extremely difficult year! Due to the widespread outbreaks of COVID-19 in various places, many places experienced large-scale lockdowns for extended periods, making business trips, communication, and contract delivery difficult. Many hard-won market opportunities had to be abandoned, and business operations were severely affected by the COVID-19 outbreak as never before. This year, under the strong leadership of the CPC Central Committee, we worked together with one heart and one mind, and finally ushered in a comprehensive adjustment of the epidemic control policy. We have always upheld the leadership of the Party, and we are even more optimistic about 2023. On this occasion of bidding farewell to the old and welcoming the new, I would like to bow deeply to all my colleagues in the company to express my gratitude! Thanks to the technical engineers, sales personnel, operation personnel, and management cadres who have always been fighting on the production front line. Thank you for withstanding the pressure of the COVID-19 epidemic, always maintaining an optimistic spirit and high morale, striving forward, overcoming one difficulty after another, and making the greatest contribution to the basic completion of various business targets set at the beginning of 2022. Thanks to the family members of our employees for their strong support. Without your encouragement and support, our struggle would have been even more difficult. The most gratifying thing is that in the most difficult times, we chose to trust each other, to stand together through thick and thin, and to overcome difficulties together. This has brought us closer together, and we have a more unified understanding of our common goals.

↑Jiebeitong & Bohai Drilling successfully completed the drilling of Ning209H1-10 well, the deepest horizontal well in the Changning shale gas field

　　On this occasion of bidding farewell to the old and welcoming the new, I would like to express my highest respect and gratitude to the company's R&D team! Thanks to everyone's tireless efforts, the company's technological research and development and innovation have continued to make new breakthroughs in 2022. The nanometer oil displacement agent technology has been successfully applied in many oilfields across the country and overseas oilfields, with significant results in increasing production. The self-agglomerating high-strength chemical sand control technology has achieved significant results in solving the technical problems of fracturing sand control and oil layer sand production, and has been recognized by many customers. The two-step heavy oil viscosity reduction technology has significantly increased the output of heavy oil extraction while significantly reducing the cost of extraction, resulting in significant economic benefits. We have long adhered to the independent R&D concept of "reservoir, process, and new materials" integration, overcoming numerous difficulties, and have gradually formed a set of oil and gas production increase technology systems with obvious core competitive advantages, providing a strong technical guarantee for the company's future sustainable and healthy development.

↑Jiebeitong's annual production of 10,000 tons of supramolecular nano-drag reducer fully automatic production line was successfully put into operation at one time

　　2022 marks the tenth anniversary of the company's founding. Looking back on the past ten years, we have not wasted our time, we have not let down the years, and we have reaped a rich harvest! For the past ten years, independent research and development, in-depth work on the front line, and hard work have always been our main theme. For the past ten years, starting from scratch, we have always taken improving the single-well oil and gas output as our goal, focusing on reservoir geological research, new oil and gas production technologies, and new materials and tools research and development. We have formed a number of characteristic technologies with independent intellectual property rights, including temporary plugging volume fracturing technology, green and clean slickwater technology, SECTT trace detection agent testing production profile technology, fully soluble metal bridge plug, nano oil displacement technology, self-agglomerating high-strength chemical sand control technology, two-step heavy oil viscosity reduction technology, high-strength microsphere elastic water plugging technology, and rock mechanics expansion and production increase technology. We have built an advanced new materials and tools manufacturing factory, a first-class laboratory, obtained more than 100 patent authorizations, published more than 60 academic papers, and have repeatedly appeared on international and national academic report platforms. We have won a number of technological achievements, including the provincial and ministerial special prize for technological invention and the first prize for scientific and technological progress. These achievements are the result of the joint efforts of all employees of the company, the fruits of our ten years of hard work, the crystallization of our ten years of hard work, and the cornerstone of our continued progress in the next ten years.

　
↑Three experts from Jiebeitong Group promoted to senior engineer

　　Looking forward to 2023 and the next ten years, there is no end to our careers, and our struggle will never cease. We must carefully summarize the successes and failures of the past ten years. No one is perfect, and the important thing is not to be discouraged, and even more importantly, not to repeat the same mistakes. We always believe that success will not be a smooth road, and success must withstand the test of setbacks. As long as we do not forget our original intention, even if the progress each day is only a small step, perseverance will eventually lead to success. As long as we persistently charge towards our goal, we will be closer and closer to success. Thank you to our investors and shareholders for your deep trust in our management team and for accompanying us along the way. We hope that in the next ten years, we will not let you down. We will maintain this spirit, always aiming at the technical pain points and difficulties in the oil and gas production increase field, uniting all forces that can be united, and striving to build a first-class oil and gas production increase technology team to contribute our modest efforts to increasing oil and gas reserves and production. The bell of the Year of the Rabbit has already rung, and 2023 is already upon us. In the new year, I wish our great motherland prosperity and strength, I wish the people of our country peace and health, I wish our customers and friends happiness and prosperity in their lives and careers, and I wish all our employees and their families happiness and health!

　
Zeng Bin
January 1, 2023, early morning in Beijing