The order of the year is always changing, and the chapter is new day by day. The bell of 2025 passes through the circulation of time, carrying new life and hope slowly. On this beautiful moment of the New Year, on behalf of the Party Committee and the Board of Directors of the Group, I would like to extend sincere greetings and New Year wishes to all cadres, employees and their families, retired comrades, partners who support us and walk hand in hand with us, and leaders at all levels and friends from all walks of life who care about and support the development of Wanhao Group for a long time!

The past year of 2024 is a year full of opportunities and challenges. Faced with a complex and changing market environment, we have written another wonderful chapter in the development of Wanhao Group with our firm belief, unremitting efforts and the wisdom of our team. Over the past year, we have continued to work hard and witnessed the continuous innovation and upgrading of products, the steady expansion of the market, and the significant improvement of team cohesion and execution. Behind the achievements, there is the sweat and wisdom of every Wanhao person, and the trust and support of every partner.

This year, we increased investment in technological transformation, so that equipment upgrading has become a new driving force for energy saving, quality improvement and efficiency improvement of enterprises.

This year, the Group Yulong Company decisively adjusted the production layout, and achieved the goal of improving production efficiency and steadily improving product quality; Longde company has sufficient orders, record high production, breakthroughs in new product research and development, and has won recognition and praise from the filtration system industry at home and abroad.

This year, we established the Wanhao Vocational Training School, which enables employees to grow through the training of process, quality, safety, operational skills, etc., benefiting more than 200 employees.

This year, we strongly implement 5S management, consolidate the basic management work, strengthen the formation of staff literacy, enhance internal motivation, and empower high-quality development.

This year, our second phase of high-end filter material project, after planning, investigation, demonstration, officially entered the implementation stage. The launch of the second phase of the project is a major event in the development of the Group, and it is also a strategic move of the Group to develop new quality productivity and shape new development momentum, which will certainly illuminate the development road in 2025.

2025 will be a pivotal year in the history of Wanhao. The downward pressure on the global economy continues, but creative, vibrant and competitive enterprises will surely have more room for development. Therefore, we should firmly grasp the key points of "understanding the market, grasping the node, practicing internal skills", adhere to the market-oriented, take development as the main line, and improve economic efficiency as the center, make every effort to plan the project construction, strengthen basic management, product quality management, vigorously carry out scientific and technological innovation, increase the research and development of new products, further optimize product processes, reduce production costs, Continuously improve the core competitiveness of the Group, so that the Group has always maintained a healthy, good, steady and sustainable development momentum.

If we don't stop, the future is promising. In 2025, there are many dreams worth our efforts to create, and there will be many challenges waiting for us to overcome. Time has never failed every effort of you and me. Let us draw strength from the past struggles, enhance confidence, unite as one, work with one heart and mind, and make new efforts, and work together to draw a new blueprint for the high-quality development of Wanhao Group.

I wish you all good health in the New Year! Work well! Happy family! All the best!

Group Party secretary, chairman Yin Peinong