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In 2017, the 19th National Congress of the Communist Party of China opens a new chapter, President Xi Jinping’s thought on socialism with Chinese Characteristics in the New Era guides China to march forward. Likewise, this year has also been quite extraordinary for COAMC.

Throughout the year, COAMC firmly implements regulatory requirements. By prioritizing COAMC’s core business, we gained a year-on-year growth of 75% in the balance of non-performing assets by the end of 2017, and the structure of core business continues to optimize. By supporting the development of real-economy, the total balance of business related to real economy grows to 134% by the end of 2017 compared to last year.

During the year, we persist in company strategies. The successful introduction of strategic investors and issuance of Tier 2 Capital supplement bond significantly enhanced our capital strength and business stability. By the end of 2017, the group’s total assets exceeded RMB 980 billion yuan, while net profits reached RMB 12.4 billion yuan.

Year 2017 witnessed our efforts in compliance management. We carry out regulatory requirement to strengthen business management. We advocate the core concept of compliance management so as to consolidate the foundation of long-term development.

At this point, in face of the new duty in this new era and regulatory requirement proposed by the regulators, we will further analyze the new situation, contradiction, and tasks in order to promote suitable development idea to achieve high quality development.

In 2018, we will lead our way with the given mission, we shall keep expanding on NPL business, and build up the new business circle in line with the NPL industry. Besides, we will encourage the subsidiaries to return to their own business, achieving the virtuous circle between finance business and real economy.

In 2018, we shall remain accountable in pursuit of new goals, meanwhile maintain steady growth in business. We will launch IPO process accordingly, and issue financial bond to promote connotation development along with extension development, pulling out full strength of the corporation to stimulate new dynamics of strategic synergy.

In 2018, we will hold bottom lines to strengthen risk management and internal control, and escalate the corporation’s risk-control proficiency to whole new extent. Moreover, we will stick to the lifeline of legal and compliant operation, and make sure to guarantee the business performance compliance requirement by sensible treatment of the dialectical relationship between compliance and development, as well as risk and profits in business operation.