2024 NEW YEAR MESSAGE FROM SHANYING INTERNATIONAL

All Shanying colleagues and friends:

Time flies like water, while years pass silently. As I gaze upon the tranquil riverbanks and the brilliant lights on both sides, I’m filled with gratitude and expectations! With 2023 just gone, we have bid farewell to another year, a period engraved with Shanyinger's determination to go against the current and soar against the wind. I will always remember and be grateful to the Shanying staff and their families who have worked hard across the world, as well as to all of our friends who have cared for and supported Shanying. Here, I would like to extend my best wishes and sincere thanks to all of you.

Pine trees on the cliff remain calm even though the clouds in disarray are flying across. Looking back to 2023, we have experienced not only the bitter cold of winter, the scorching heat of summer, but also the hope of spring and the harvest of autumn! In this year, we insisted on making progress while maintaining stability, relying on organizational reform, digital transformation and technological innovation, taking green, low-carbon and sustainable development as our responsibility, and taking the culture of “co-creation, sharing and win-win” as our driving force. While consolidating the foundation for high-quality development of the company, we have gained confidence to walk with change-makers, dance with industry leaders, and fight with people of the same mind.

Walking with change-makers, we embarked on a new journey. Deepening organizational reform and insisting on digital transformation and technological innovation are our resolute choices after a comprehensive review of the market. Organizational reform has brought about a sound control system and incentive mechanisms, so that each business unit can respond to diverse market demands with higher efficiency, and improve customer satisfaction with Shanying's products and services comprehensively. Digital transformation has strengthened the foundation and enhanced our capabilities, which enable us to improve management efficiency in budget control, customer management, engineering project construction, and other areas. Through diligent efforts to implement high-level technical standards, we have been awarded AAA-level certification for "the Integration of Informatization and Industrialization." As we continue to promote “Industry 4.0”, the manufacturing efficiency has been improved.

Dancing with industry leaders, we presented a new look. We have been practicing actively in a green and low-carbon way and taking the road to sustainable development, which is our primary social responsibility. We continue to lead as "Carbon Pioneers”, completing EATNS carbon management system certification for five papermaking bases and advancing carbon reduction measures in line with the Science-Based Targets initiative (SBTi) to ensure we meet our carbon reduction targets by 2030. Firmly seizing the industry’s window of green transformation, solidifying the competitive advantages in the new green track, Shanying has been listed in the “Fortune China 500” list for eight consecutive years and awarded the title of “Top 100 Packaging Enterprises in China” for two years. Our market position and brand value have further gained attention and recognition from all walks of life.

Fighting with people of the same mind, we achieved new peaks. Fueled by the culture of “co-creation, sharing and win-win”, we insisted on the strategic positioning of “a global service provider of green packaging integrated solutions that creates long-term value for customers”. Together with more industry partners across the industry chain, we are embarking on a journey of growth. We consolidate the closed loop of recycling resources, work in unity with our partners, establish long-term and stable collaborative relationships, and strengthen the synergies of the entire “recycling-papermaking-packaging-distribution-service” channel. With an increasingly unwavering faith and a strong sense of responsibility, the Shanyingers are fulfilling their mission and forging ahead.

The road ahead is long but brilliant. Looking ahead to 2024, the overall upward trend of the domestic economy is a fundamental momentum, and the era's demand for green development offers opportunities. We will continue to improve quality and efficiency, focusing on value creation. We will refine the layout of industrial chain and build a protective barrier for Shanying through transformation and innovation. We will persist in digital transformation and technological research and development, collaborating to win with industrial eco-partners. With the determination never to let up until we reach our goals and the attitude that the last leg of the journey only marks the halfway point, I believe Shanyingers will turn our ambitious goals into beautiful realities through innovation and integrity in the future.

The encounter in winter is meant for the blossoming of spring! In this winter, we hold a brave heart and grow towards the sun. We firmly believe that once we have overcome the obstacles we face, the road ahead will be bright and shiny!

Finally, I wish that the world we live in be peaceful and tranquil, wish our friends and families be harmonious and joyful, and wish our common business journey be sunny all the way!

Mingwu Wu

January 1, 2024