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On January 13, Hengyi Petrochemical revealed that the second phase of its project in Brunei has received preliminary approval from the Bruneian authorities; however, the transfer of funds abroad still requires approval from relevant Chinese authorities. In accordance with the project plan, work such as dike filling is being carried out in an orderly manner. At present, all tasks related to Phase 2 in Brunei are progressing in an orderly manner; please refer to the company’s announcements for any updates. In 2023, the company’s management will continue to work diligently and responsibly as always, striving forward. Guided by the development strategy of \"one drop of oil, two threads,\" they will persistently focus on production, operation, and management tasks, remain committed to doing their core business well, and deliver long-term, stable, and excellent performance to repay shareholders, thereby creating greater and better value for them. According to Petrochemical Yuan, on June 17, 2022, Hengyi Petrochemical stated in a survey that the second phase of the project in Brunei had received an initial approval letter from the Bruneian authorities. It is reported that the capacity of Brunei’s Phase 1 project can be increased to 110% or more depending on market conditions. Against the backdrop of supply falling short of demand, the refined oil market in Southeast Asia will remain in a highly prosperous state, and the company’s refinery in Brunei is likely to continue to benefit from this situation. Hengyi Petrochemical stated that its subsidiary plans to invest in the construction of a \"1.2 million tons per year caprolactam-polyamide integrated production and supporting facilities project.\" The project is being constructed in two phases, with Phase 1 currently progressing in an orderly manner.