On 21 May 2021, Dalipal has been awarded the bid for China National Petroleum Corporation (“CNPC”)’s annual centralized procurement bidding project (“Project”) for oil country tubular goods (“OCTG”) (including American Petroleum Institute standard (“API”) OCTG, non-API standard OCTG, and API standard other oil pipes) for a total purchase quantity of approximately 310,000 tonnes and purchase amount of approximately RMB2.1 billion.

The Project is one of the largest bidding and procurement of finished products in 2021 in the People’s Republic of China. The award of bid to the Group reflects the Group’s comprehensive strength in terms of professionalism, intelligence and service integration, and provides assurance and motivation for the Group’s sound and sustainable business development. At the same time, this enhances the influence of the Group’s brand in the industry. The Group will fully exert the advantages of its fully integrated industry chain to provide customers with high quality products and services