Our steel group has entered into a strategic partnership with Vietnam Urban Construction Group, a leading Vietnamese construction company. This collaboration transcends traditional product transactions; leveraging our digital quality traceability system, customized price risk management solutions, and data-driven optimization of our nationwide warehousing and logistics network, we provide our client with a comprehensive solution covering quality, cost, and efficiency. This marks a significant upgrade in our relationship from short-term procurement to a long-term, value-sharing strategic partnership. It is a key milestone in our group's international business transformation from a "product export" model to a "solution export" model, aiming to jointly enhance project management capabilities and empower infrastructure development in Vietnam.

On the occasion of New Year's Day, our company has successfully signed a long-term strategic cooperation framework agreement with a key construction partner in South Korea. The agreement establishes an innovative model of "annual framework + project lock-in" to address their fluctuating annual demand of approximately 600,000 to 800,000 tons. Both parties will engage in deep collaboration around specific large-scale projects. Our company will not only provide end-to-end quality traceability with a "one-code-per-object" system but will also leverage our nationwide warehousing network to achieve precise JIT (Just-in-Time) delivery through a "hub warehouse + front warehouse" model. Deepened in the festive atmosphere of the holiday, this cooperation marks a shift from traditional buying and selling to in-depth supply chain collaboration featuring data sharing and risk sharing, aiming to jointly create more high-quality projects and achieve mutual development.

Our cooperation with our Iranian client, Hassan's team, began in 2019. Through the reliable delivery of key orders during the pandemic, mutual trust has deepened, and order volume has grown from 500 tons to 3,000 tons within five years. During this visit, our technical teams jointly developed a technical agreement containing 142 parameters and 16 customized clauses, specifically tailored to Iran's high-temperature, high-salt environment. The logistics route has also been optimized to a faster sea-rail intermodal transport. The partnership has evolved from a simple transaction to a deep technical collaboration and a partnership based on mutual trust, and we are currently exploring future plans such as jointly establishing a research and development center.

Our company has successfully signed a new long-term carbon steel coil supply contract with a key South Korean partner. Building on the successful application of our products in our client's high-end production lines in the previous collaboration, this contract commits to deepening strategic cooperation over the next two years. During this period, the South Korean technical team conducted in-depth inspections of the entire production process, engaging in multiple rounds of professional exchanges focusing on process optimization and quality improvement. The contract not only establishes the procurement framework but also incorporates clauses on continuous improvement and technical services, driving the cooperative relationship to evolve from a traditional supply and demand dynamic to a collaborative innovation partnership, laying a solid foundation for joint R&D, supply chain optimization, and market expansion.

An Egyptian company conducted an on-site inspection of a Chinese steel mill for its Cairo infrastructure project, going beyond online communication to verify the mill's production and quality control systems. The Chinese company won the company's trust with its transparent, end-to-end presentation and professionally tailored solutions, ultimately leading to the signing of an 800-ton steel profile contract. This is not merely a single transaction; it marks the beginning of a strategic partnership based on on-site verification and mutual professional trust, setting a high-quality benchmark for Chinese steel companies expanding into the Middle East and African markets.

Partners from a Syrian reconstruction project recently visited our company to inspect our carbon steel pipe production line and engage in in-depth technical exchanges. The client expressed satisfaction with the production process and quality control, and particularly appreciated our customized solutions tailored to the specific needs of post-war reconstruction. Both parties have reached an agreement on the initial procurement specifications, and subsequent cooperation, including sample production and technical support, is actively underway.