2023 New Year's message

      Hello everyone!

      Time flies, and a new chapter begins. Yesterday, we forged ahead, with a clear path and a bright future; today, we walk together, with dreams in our bags and a steadfast journey ahead; time is precious, and in the blink of an eye, we welcome a new year.

      At the start of the year, looking back at 2022, it was an extraordinary year, full of difficulties and challenges. The international situation was volatile, with the Russia-Ukraine conflict, energy crisis, climate change, and interest rate hikes by major economies. Domestically, the epidemic recurred, the market fluctuated, and the business environment was challenging.

      However, 2022 was also a year in which all our employees rose to the challenges and worked together!

      Zhongji people worked together and made some hard-won achievements and breakthroughs!

      Over the past year, we have always adhered to research-driven investment, enhancing our core competitiveness and seizing investment opportunities. Management has adhered to the strategic deployment of "stability first, seeking opportunities within stability," seeking opportunities in the transformation of the new and old driving forces of economic growth, and continuously improving investment efficiency. Haiguang Information and United Imaging successfully went public, with market values exceeding 100 billion yuan, Yatong Group successfully passed the CSRC's issuance examination and approval meeting, and Ji Heng Pharmaceutical submitted its IPO application materials. The seeds we planted earlier are gradually growing into towering trees, and the investment direction and philosophy we have always adhered to are being verified.

      Over the past year, our asset management capabilities and models have become increasingly clear. We have steadily advanced amidst reforms, gradually forming a strong brand effect and a good industry reputation. We have newly established 17 asset management high-yield debt products and completed equity investments in Xinyihu Materials, Fengyuan Bio, Xican Microchip, Siwei Times, and Leuven Instruments in the form of asset management, increasing our in-depth research in semiconductors, high-end manufacturing, and medical health. At the same time, the light asset management model in the field of non-performing assets has gradually matured, and we have successfully deployed and implemented new forms of investment opportunities such as bankruptcy reorganization and common benefit bonds.

      Over the past year, we have conducted in-depth research on industrial fundamentals and continuously explored new paths for win-win development. The company's research team has conducted independent in-depth research and organized 45 internal company training sessions and customer sharing sessions based on the research results. The topics covered semiconductors, new energy, new materials, non-performing assets, finance, and law. Post-investment business has been extended, integrating post-investment empowerment, preservation, and appreciation into management. During this special period, we have helped our invested companies alleviate pressure and empower them, offering advice and working together.

      In 2023, facing the grand blueprint outlined by the 20th National Congress of the Communist Party of China, China will enter a new stage of high-quality development, and a new pattern is about to unfold. We also clearly recognize that the company's development still has a long way to go, and we must overcome difficulties with confidence, determination, and ambition, and achieve success with perseverance and hard work.

      Looking back on our journey, Zhongji people have been unwavering. We have always adhered to steady progress, protecting and creating value for shareholders and investors, and alleviating difficulties and achieving win-win results for partners and society!

      Looking at the path ahead, we have always adhered to our unchanging original intention, determination in transformation, and a grateful heart. Combining the new situation, new changes, and new requirements, we are growing into a new and stronger Zhongji.

      Looking ahead, we have reached a new stage where the waves become more turbulent as the boat reaches mid-stream and the road becomes steeper as we climb halfway up the mountain. Only by working together and moving forward persistently can we achieve resilient growth and reach further and deeper.

      In the competition of a hundred boats, those who strive forward will be the first to set sail. The first rays of sunlight of 2023 have already arrived, and we will have 365 new, bright, and brilliant sunrises!

      Finally, at this special moment, thank you to all Zhongji people and partners for working together!

China Zhongji Investment Management   

January 1, 2023