Creating Value Pursuing Excellence Chairman’s Message...... 02

CONTENTS President’s Message...... 04

About Sinochem...... 06

Management Report...... 08

Business Overview...... 12

CORPORATE CITIZENSHIP...... 46

Key Events...... 52

FINANCIAL STATEMENTS...... 56

DIRECTORY...... 64 Chairman’s Message

With the interpenetration and profound integration of internet and traditional industries, such new ways of thinking and new models as internet plus, big data, and industry 4.0 are emerging one after another. While these new developments are impacting the traditional mindset and shaking up the industrial pattern, they are also creating broader space and powerful traction for economic and social progress. In the ever changing times, only by the persistence in its corporate philosophy of “Creating Value, Pursuing Excellence”, and the determination in reform and innovation, can Sinochem leverage the megatrend and win the future.

Facing with the economic “New Normal and new business trend, in recent years we have been focusing on our major business sectors and made great efforts in the industrial transformation. By so doing, Sinochem has maintained a steady growth momentum, with our core competitiveness, industry position, and overall strength further enhanced. In particular, the 12 million MT/a refining project of Sinochem Quanzhou Petrochemical Base—the groundbreaking project in our “Third Long March” period—was finally completed and put into production in 2014 after a decade of preparation with tremendous hardship, which has consolidated Sinochem’s industrial strength and sustainability, and also solidified our confidence and determination for industrial transformation. Every progress made by Sinochem on the way to pursue our dream cannot be realized without the cooperation and support from the friends all around the world. Hereby, I would like to express my sincere gratitude to them.

Sinochem’s transformation is still at a critical stage, and Sinochem people are fighting for things that have never been done in the Sinochem history. Keeping in mind the philosophy of maintaining a “proactive, steady, sustainable, and healthy” development, we will be “humble but fearless, peaceful but persistent”, and make firm stride toward the vision to build a great company.W e would like to join hands with friends from all walks of life around the globe to create an even better future.

Liu Deshu Chairman

02 2014 ANNUAL REPORT 03 President’s Message

While the world economy is undergoing deep restructuring after the global financial crisis, the Chinese economy has stepped into a New Normal of restructuring, transforming, and upgrading. The new trend is testing the Chinese companies and entrepreneurs, and expecting them to make choices and answers.

In 2014, facing with the severe external business environment, we were making progress in a steady manner, trying our best to enhance business operation, corporate management, risk control and industrial transformation. We have successfully fulfilled our development targets, keep our business in a steady and healthy fashion, and also witnessed breakthroughs made in our strategic transformation. Hereby, I would like to offer my heartfelt thanks to all the friends in China and from overseas for their substantial support to Sinochem.

2015 is the critical year for Sinochem’s strategic transformation. Although the prospect for the external environment is still not sanguine, Sinochem has the solid foundation to resist risks after years of strategic transformation and management reform. Years of harsh market test has built a team that possesses huge strength to overcome hardship. We will take it as our goal to grow stronger and better, stick to market- orientation, internationalization and industrialization, and take quality and efficiency enhancement as the core, in a bid to be adapted to the Economic New Normal and new challenges, seize new opportunities, write a new chapter for development, and ultimately propel Sinochem’s business to weather the storm ahead and stride forward steadily.

“When it is at high tide, between the two sides the river is wider. With the wind this fair, the boat is sailing at ease on the water.” We would like to join hands with friends from all over the world to bring more benefits for the well-being for the nation, the society, and the general public.

Cai Xiyou President

04 2014 ANNUAL REPORT 05 About Sinochem

One of China’s four state oil China’s leading chemical companies service company

China’s biggest agricultural input (fertilizer, China’s earliest entrant in seed and agrochemicals) company Fortune Global 500

Sinochem Group was founded in 1950. Its predecessor was China Franshion Properties (HK, 00817), and is the largest shareholder National Chemicals Import and Export Corporation, which was of Far East Horizon (HK, 03360). In June 2009, Sinochem Group China’s largest trading firm. Sinochem Group is the key state- established Sinochem Corporation as the vehicle for potential owned enterprise under the supervision of State owned Assets group IPO. Supervision and Administration Commission of the State Council (SASAC). Sinochem’s headquarter is located in Beijing. Sinochem Group is China’s earliest entrant in Fortune Global 500 and has entered the list for 24 times, ranking 107th in 2013. Sinochem’s core businesses span over energy, agriculture, Through years of strategic transformation and management chemicals, real estate and financial service. It is one of China’s four overhaul, Sinochem has maintained a sustainable, healthy and state oil companies, China’s biggest agricultural input company rapid development. Sinochem has been rated by SASAC as “top A (fertilizer, seed and agrochemicals), China’s leading chemical corporate performance” for 10 years in a row and it has been listed service company. It also exerts strong influence in real estate and in “World’s Most Admired Companies” by Fortune for 2 consecutive non-banking financial service sector. As a global conglomerate years, both ranking the first inT rading Industry List. with market orientation, Sinochem’s quality product and service is relevant to many aspects of mass economy and people’s well Sinochem’s vision is to become a respectable company with global being. Its brand enjoys high reputation and acknowledgement influence, making fortune to all the stakeholders and the society. around the world. Our 50,000 employees will follow the doctrine of “Creating Value, Sinochem currently owns more than 300 subsidiaries inside and Pursuing Excellence”, shoulder social responsibility as corporate outside China. It controls several listed companies including citizen, and adopt scientific development approach to realize Sinochem International (SH, 600500), Sinofert (HK, 00297) and sustainable business potency.

06 2014 ANNUAL REPORT 07 Management Report

Sinochem’s Vision

To become a respectable company with global status

Sinochem’s Mission

To become the industry model featuring advanced technology,resources reservation and environmental friendliness

To become an important driving force safeguarding China’s energy security, agricultural security and promoting chemical industrial upgrading

To become a respectable company with global status and great social responsibility

SINOCHEM’S DEVELOPMENT STRATEGY

One Ability: the ability to develop in a sustainable way

Two Fundamentals: internal management and external expansion

Three Links: resources, technology and market

Four Pathways: innovation, integration, M&A, and collaboration

Five Key Areas: energy, agriculture, chemical, real estate, and financial service

08 2014 ANNUAL REPORT 09 In 2014, the world economy experienced slow recovery and the downbeat pressure for the Chinese economy had increased. Management Further Enhanced Under this circumstance, Sinochem’s business encountered the harshest test since 2008. Facing with the impact from general economic condition, we stick to the “active, steady, sustained, and healthy” development philosophy, focused on We stick to the lean management philosophy, and leverage the tier and third-tier branches and subsidiaries. In terms of safety our main business sectors, pressed ahead with our strategic transformation, optimized the resource allocation, consolidated management enhancement project as the opportunity, and management, the company maintained safety control throughout our internal resource, and strengthened the lean management, all of which helped us to maintain a steady and positive focus on resolving the acute problems in corporate management our production links by strict monitoring. As for financial development momentum with new progress achieved in our work. to advance our management innovation. By doing so, we management, we made full use of the centralized operation system were entitled as “the Excellent Company in SOE Management of foreign exchange implemented by multinational companies to Enhancement Project” by SASAC. reduce financial cost. In 2014, Fitch, Moody, and S&P all raised the Business Performance Realized Steady Increase rating on Sinochem from BBB+ to A-, which further enhanced the In terms of technology management, we made the overall plan company’s image in the capital market. We also strengthened the for technology reform and actively promoted the implementation In 2014, the company maintain the steady and positive development momentum, application of the Leadership Capability Model, cultivated talents Total Sales Revenue of such measures as“Product-oriented Management” “Gate-way through various levels, and brought in a batch of high-end talents and realized annual revenue of RMB 496.8 billion and gross profit of RMB 11.35 Management”. In the area of risk management, we realized the including 5 experts that are listed in the “National One-Thousand billion. Notably, our profit surpassed RMB 10 billion four years in a row. Our assets coverage of the Group-level internal control system in the second- Experts Plan”. totaled RMB 360.2 billion, and net assets sit at RMB 128.9 billion, which was billion yuan marked by a solid financial structure and good asset quality. While protecting 496.8 Total Profit the national energy and agricultural security, we created RMB 29.5 billion for Social Influence Steadily Strengthened the society, making significant contribution to the national economic and social development. We take it as our goal to build Sinochem into a respectful economic development and people’s lives’ improvement of the billion yuan 11.35 great company with global status, and vigorously deliver our local areas. By implementing green development strategy, clean In 2014, we maintained a steady profit generation despite of the severe business commitment in our corporate social responsibility. The company production, and recycling economy, we reached the standards Created For The Society rolled out “Sinochem’s Passion, Farmers’ Dream” series of public environment, which owes thanks to the leadership team’s efficient response such as “energy consumption per RMB 10,000 output” and strictly welfare projects throughout China, benefiting a great number of controls pollutant discharge. By doing so, we cultivate a batch of and the hard work of all Sinochem employees, and also is benefited by the farmers directly or indirectly. We continued to provide assistance competitive products and service brands with highly-recognized solid foundation laid through the company’s strategic transformation and billion yuan to the four counties of Tibet, Qinghai and Inner Mongolia with 29.5 accumulative financial aid of RMB 144 million, facilitating the performance. management reform.

Industrial Development On a New Stage Facing with the opportunities and challenges generated by the change of the external environment, in the coming three years Sinochem Group will follow the requirement of growing the business better and stronger, stick to the “active, reliable, In 2014, we focused on the key links of our main business sectors, technology planning for“Thirteenth Five-Year Plan Period” as well sustained, and healthy” development notion, insist market-orientation, and walk on a Sinochem-characterized industrial continued to push forward our strategic transformation, and as the amendment of Seed Law of China. In the area of chemical development path that is supported by resource, technology, and lean management. We will press ahead with the five achieved a series of breakthrough and progress, which helped us sector, the size of the ISO container tanks of our chemical logistics strategic tasks of “focusing on strategic priority, innovating the system, optimize the existing assets, consolidating resources to consolidate our industrial strength. business ranked among the Top 5 players globally. The newly to form synergy, and deepen the implementation of lean management”, so as to enhance the quality and efficiency of our planting and replanting areas for natural rubber amounted to strategic transformation and realize a sustainable healthy development. In terms of energy sector, Sinochem Quanzhou Petrochemical nearly 3000 hectares, and we also had new processing capacity base’s first phase 12 million tons/a refining project was completed of 50,000 tons. The brazing flux project and 245fa project that and put into production in July, 2014, which marked a great Sinochem Lantian has partnered with Solvay and Honeywell milestone in our strategic transformation. The project’s process, Operation Revenue In 2005-2014(One Hundred Million Yuan) Annual Profit In 2005-2014(One Hundred Million Yuan) respectively were completed and produced qualified products. 4968 technology, and facility size reach the leading standards among 5000 140 134 4590 4532 4669 As for real estates sector, Franshion Property secured 6.03 million the newly constructed refineries in China.W e participated in the 120 113.5 4000 106.7 108.7 square meters of land into its land bank. Jin Mao Investment 3353 development of Chongqing shale gas projects, and achieved 100 3090 85.8 87.8 90.8 was listed in Hong Kong in July, 2014. For financial sector, FOTIC 3000 an epic breakthrough in our energy development in China. We 2430 80 2297 was approved by CBRC to run QDII business, a milestone in its 61.4 opened 102 new gas stations, and signed up 138 new gas stations. 2000 1842 60 1728 43.8 In terms of agricultural sector, Sinofert renewed the three-year off- international operation. Far East Horizon had investment in 3 40 32.4 1000 taking memorandum with PCS. China National Seed Group Co., hospitals, making a material step in the hospital investment and 20 operation. Ltd. participated in the formulation of the national agricultural 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

10 2014 ANNUAL REPORT 11 Business Overview

We uphold the business philosophy of “Creating Value, Pursuing Excellence”, adhere to the strategy of diversified but selected business portfolio, give full play to the advantage of globalized operation, and constantly enhance our core capability in key links on the industrial value chain. By doing so, we have achieved a balanced development in all the five business segments of energy, agriculture, chemicals, real estate and financial services. Our corporate value is increasing and our presence in related industries is notably enhanced. We play an important role in promoting industrial upgrading and national development.

Energy Agriculture Chemical Real Estate Financial business business business Business Business

Fluorine Exploration Fertilizer Project Trust Chemical Development Business and Production Business Business

Natural Rubber Commercial Financial Oil Refining Seed Business Business Leasing Leasing and Rubber Chemical Agrochemical Hotel Finance Oil Trading Operation Business Fine Company Chemical Warehousing Retail Securities and Logistics Pharmaceutical Business Investment Chemical Business Fund

Distribution Chemical Life and Retailing Logistics Insurance

Petrochemical Feedstock Distribution

12 2014 ANNUAL REPORT 13 As a state-owned, market-oriented oil company, we, by drawing on our abundant experience accumulated over the past sixty years in oil business, supply oil and gas products for social and economic development, participate in the construction of the national strategic oil reserve bases and the research for national energy development planning, and play an increasingly important part in the energy market of China and beyond.

Over the past decade, while consolidating our competitiveness in international oil trading and petrochemical logistics, we have extended our industry value chain upstream and downstream. Sinochem is now a large, global energy enterprise with a complete industry value chain, from oil and gas exploration and production, oil refining, oil trading, logistics to oil distribution and retailing.W ith our refining capacity on the rise, our integrated operation of the energy sector is enhanced, and our capability and sustainability consolidated.

During the second half of 2014, international crude oil prices took a nosedive, plummeting over 50%. In the face of dramatic external changes, we embrace challenges through leveraging the synergy created by connecting the separate links on the value chain, ensure stable operation of our core businesses, and press ahead with our strategies. The successful launch of Quanzhou 12 million tons/year refinery marks Total Turnover Volume a breakthrough in the refining segment of Sinochem’s oil business, and becomes the solid basis for our sustainable development. New progress has been made in acquisition of resources and operation platform for oil trading; logistics business is developing steadily, with smooth progress in ongoing 130 projects; oil products distribution and retailing capacity is enhanced markedly, with a big step forward in operating profit.T otal turnover volume for the oil business is 130 million tons, with operating sales million tons exceeding 380 billion yuan, which is a fairly good record.

Distribution of E&P Projects and Oil Trading Branches

Sinochem Oil Co., Ltd. USA Sinochem International Oil (London)Co., Ltd. Sinochem Industries Co., Ltd. Sinochem Oil (Thailand) Co., Ltd. Colombia China Syria Sinochem Oil Co., Ltd. Japan Representative O ce

Energy Business

UAE Tunisia Sinochem Oil Co., Ltd. Yemen Representative O ce In Taiwan Exploration and Oil Refining Oil Trading Warehousing Distribution Ecuador Production and Logistics and Retailing Indonesia Sinochem International Oil (Singapore) Pte., Ltd. Brazil

Headquarter Exploration and Production Projects Oil Trading Branches

2014 ANNUAL REPORT 15 Exploration and Production Oil Refining

At the beginning of the 21st century, we formulated the strategy shale gas development and utilization and an important base for We started oil refining business in the late 1980s. At present, products are gasoline, diesel, kerosene, polypropylene, etc., all of of extending to the upstream sector of the oil industry, and we development and utilization of new energy. the three refineries we have invested have a combined refining which meet the national quality, environmental requirements. The are committed to oil and gas exploration and development capacity of nearly 25 million tons per annum. The 12 million gasoline and diesel products meet Euro V standards, and the diesel- At the same time, the company focuses on strengthening capacity worldwide. Since our first move of “going global” in 2003 more tons/year Quanzhou refinery, which we independently invested gasoline ratio can be adjusted within the range of 1.2-2.4 to meet as operator. Our Colombian projects have conducted management than a decade ago, we now have had two strategic regions: the and constructed, was commissioned in 2014. We are the largest market demand. The refinery is one of the most competitive in the optimization and thus enhanced cost efficiency. Rolling Middle East and the Americas, with 39 contracted oil and gas shareholder of Dalian West Pacific Petrochemical Co., Ltd. (WEPEC), industry. development of old oil field has obvious effect. Oil drilling and blocks in 11 countries, including Colombia, Brazil, and the United China’s first Sino-foreign joint venture refinery. cementing quality have been improved. Single barrel operation The project has further improved Sinochem’s oil business value States. Our resources spread in various terrains like sands, hills, rain cost has been decreasing for five consecutive years. And our Sinochem Quanzhou 12 million tons/year refinery project is one chain and enhanced the company's competitiveness; it has also forests and seas, covering such types as light oil, heavy oil, natural capability of as operator is ever on the rise. of the key projects coming into operation during China's "Twelfth improved the country's energy industry layout, serving as driving gas, shale oil, etc. We operate along each link of the upstream Five-Year Plan" period. We are committed to building it into a large, force for the Coastal Economic Zone West of Taiwan Strait. With value chain, including exploration, production and pipeline efficient, environmental-friendly,healthy safe and modern modern the launch of following projects, it will become a world-class transportation. and the business scope has expanded from mainly petrochemical base with aggregate crude oil processing capacity petrochemical enterprise that will develop sustainably. It is a development to both exploration and development. By the end reaching 30 million tons/year. world-class project with leading position in China in terms of single of 2014, we had 700 million barrels of equity 2P (Proven and series unit size, process route, process combination, environmental Probable) oil and gas reserves, and become an important player in WEPEC is able to process high sulfur crude oil and is a hydrogenated protection measures, products quality, energy reservation and the field of International exploration and development. We have refining enterprise, with crude oil processing capacity of 10 million ability to supply products to meet changing market demand. established sound cooperation relationships with international oil tons a year. It produces more than 10 varieties and more than 30 The project has 19 sets of advanced process equipment and companies, including Statoil, Total, and Pioneer Natural Resources. kinds of oil and chemical products. supporting dock and storage facilities, and employs the most 2010-2014 Equity Oil & Gas Output Unit: 10 Its products are sold to over a dozen of countires and regions, After having acquired domestic gas exploration qualification in Thousand barrels (Oil Equivalent) advanced "residue hydrotreating + delayed coking + catalytic including Japan, South Korean, North Korea, Singapore, Thailand, 2013, we realized historical breakthrough in domestic projects cracking" process scheme, with strong adaptability to different 3000 Indonesia, etc. In the future, we will continue to enhance in 2014. Chongqing Shale Gas Exploration and Development types of crude oil. Its vacuum distillation, catalytic cracking, 2500 WEPEC's competitiveness, and build it into a world-class modern Co., Ltd., in which we have 20% stake, and which is committed to residue hydrotreating, diesel liquid-phase hydrogenation devices petrochemical enterprise that enjoys the leading position in China. promoting shale gas exploration and development, production 2000 are currently of leading domestic and international scale. The main and sales in Zhongxian county, Fengdu and 3 other blocks in 1500 Chongqing, was formally established. We strive to build this 1000 Annual Crude Oil Processing Capacity Annual Crude Oil Processing Capacity Of Sinochem Quanzhou region into a platform for shale gas exploration and development, 500 comprehensive utilization and equipment manufacturing, and 2010 2011 2012 2013 2014 speed up the construction of national demonstration zone for 25 12 million tons million tons

16 2014 ANNUAL REPORT 17 Oil Trading Warehousing and Logistics Distribution and Retailing

Oil trading is Sinochem’s traditionally strong business. Based on At present, we are operating, building and managing We are speeding up the development of refined oil distribution had more than 700 retail stations. With high quality oil products our sound cooperative relationships with many oil-producing approximately 25 million cubic meters of petrochemical storage network in main markets and core cities in Northeast China, from Quanzhou refinery coming into market, and our professional countries and their state oil companies, we have acquired firm space, which form a storage and logistics network covering Bohai North China, East China and South China, and now have the third service continuing to improve, the brand recognition and influence access to overseas oil resources and with long-term crude oil Bay area, Yangtze River Delta and Pearl River Delta. We also have a largest domestic sales network. In 2014, our Northeast China sales of “Sinochem Oil” are ever on the rise. contract of over 40 million tons per annum. Total crude oil and series of jetties, ranging from 3,000 MT class to 300,000 MT class, network expanded into Jilin; preparation work in Hubei province refined oil turnover volume in 2014 was 77 million tons.T he ration to support the logistics network. We are the largest third-party went orderly, and supporting depots for oil products distribution of crude oil import to entrepot was 1:1.2. petrochemical storage and logistics service provider with the developed steadily. Oil Refueling Stations strongest service capacity in China. By virtue of good reputation and advantages in business channels The retail network independently developed by Sinochem in and techniques, we have established long-term cooperation Relying on our complete petrochemical storage and logistics Fujian, Shandong and Guangdong are expanding rapidly, and so with major oil companies and related financial institutions in oil network, we supply crude and refined oil as well as chemical does the network we roll out together with Total Group in Bohai trading and risk management, and provide quality crude oil and warehousing and transportation service to Bohai Bay area, Yangtze Bay area and Yangtze River delta region. By the end of 2014, we 700 professional services for domestic and foreign clients with a stable River Delta and Pearl River Delta, which are the most developed and extensive sales network. In addition to meeting domestic regions with the largest oil consumption in China. By doing so, market demand, we supply crude oil to refineries in Southeast we also ensure the stable operation of the refined oil market and Asia, Europe and North America, with sales of entrepot reaching refineries in those regions. In addition, we are also entrusted by In the future, we will continue to promote the coordinated development of the oil business, improve our scale and market 40 million tons/year. We are also engaged in import agency service the state to build the national strategic crude oil reserve base and competitiveness, and strive to develop into a prominent international oil company with quality oil and gas assets, large and of aviation fuel, naphtha, duty-free marine diesel, and entrepot refined oil reserve base, making contribution to China’s oil security. world-class refinery projects, and strong and sustainable operational capability in global market, so as to promote the oil agency service of diesel. industry in China and contribute to the development of world energy industry. In 2014, while we continued to promote smooth operation of To ensure smooth operation of oil trading business, we have ongoing projects, we sharpened the brand image of Sinochem’s invested in five VLCCs, and work with large international ship- logistics business by finding new customers and optimizing owner companies to provide professional oil transportation business structure. We made a new record with transport volume service, and convenient and efficient charter services to customers exceeding 46 million tons, with operating profit maintained at a at home and abroad. stable level.

Crude & Refined Oil Turnover Volume Petrochemical Storage Space 77 25 million tons million cubic meters

18 2014 ANNUAL REPORT 19 Sinochem Group is the largest central SOE operating all the three important agro-inputs—fertilizer, seed and pesticide. We are committed to becoming a leading comprehensive service provider of agricultural inputs in the world. With advanced technology, premium products and professional services, we are making contribution to the grain security and agricultural development in China and worldwide.

Our fertilizer flagship, Sinofert Holdings Co., Ltd. (Sinofert), is the largest fertilizer supplier and distributor in China, with its business covering the complete industry value chain of resource development, R&D, production, distribution and agronomic services. It is playing a positive role in stabilizing the domestic fertilizer supply and facilitating China’s agricultural development.

China National Seed Group Corporation (China Seed), Sinochem Group’s subsidiary, is the only national seed company that runs breeding, production and sales businesses for crop seeds. Its overall strength takes the lead in the domestic market. It is committed to becoming “the top player in China and leading player in the world”, and thus promoting China’s seed industry upgrading.

Our pesticide business integrates R&D, production, sales and technology service, and supplies the market with effective, low-toxic, and environmental-friendly products and professional services.W e are among the top players in China in terms of comprehensive competitiveness.

Agriculture business

Fertilizer Seed Business Agrochemical Business Business

2014 ANNUAL REPORT 21 Fertilizer Business Fertilizer Production Enterprises and the Distribution of Networks

With the vision of “becoming the globally leading supplier Postal Savings Bank, which will enrich financial services we provide Nitrogen Fertilizer Company for agro-inputs and agronomic services”, Sinofert, operates in to rural customers. In July 2014, "www.maifeiwang.cn" was formally Potash Fertilizer Company resources development, R&D, production, distribution, and launched, marking the company’s entry into the field of B2B Phosphate Fertilizer/ Chemical Company agronomic services. It has become an important driving force for electronic business. Compound Fertilizer Company development of the industry. In 2014, our fertilizer sales volume Specialty Fertilizer Company reached over 14.63 million tons, consolidating our position in the In terms of agronomic services, we have set up an agronomic sector. service system that consists of agronomic knowledge Areas Covered By Distribution Network dissemination, onsite service and instruction, and soil testing In terms of fertilizer production and upstream resource fertilization service to help improve planting techniques and Jinmei Tianyuan development, Sinofert, by dint of its abundant resource reserves increase harvest. We focus on promoting agronomic lectures, and advanced production technologies, provides high-quality free soil-testing service and demonstration fields, as well as fertilizer products. It has controlled and patcipated in 14 fertilizer safeguarding farmers’ rights and cracking on counterfeit products. Sinochem Changshan production companies. Sinofert’s production capacity reached We also work with the Ministry of Agriculture (MOA) and local

12 million tons per year, and has the most complete range agrilcultural authorities to promote recipe of fertilizer, with the aim Gansu WengFu Yangmei Pingyuan and varieties of fertilizers in China. Its products span nitrogen, of increase yield by 200 kg and income by 200 Yuan Per Mu, we also phosphate, potash, conpund fertilzer, micro-element fertilizers, hold rural field schools. So far, we have conducted 13,050 activities Sinochem Yantai Crop Nutrition controlled-release fertilizers, specialty fertilizers, slow release of various kinds, built 1,223 demonstration fields, 19 county of Salt Lake Industry fertilizers, biofertilizers and other new types of fertilizers. It own scientific application of fertilizers and 178 rural field schools. Sinochem Shandong Fertilizer over 300 million tons of phosphorite resource, paving way for Kailin Co.,Ltd. connecting phosphate fertilizer and phosphorus chemicals in the For technology innovation, under the guidance of the strategy of “serve the industry with technological innovation”, we have Sinochem Oriental Fertilizer industry value chain. Tri-circles Sinochem invested more than 100 million yuan a year in R&D to improve Sinochem Fuling

As to fertilizer import business, we keep cooperative relatinships energy-conservation production process, key techniques, R&D Tri-circles Sinochem Mosaic with major global fertilizer producers and strengthen our overseas of new fertilizers, scientific services and promotion. We have Sinochem Zhisheng procurement ability, and remain the largest fertilizer importer and established Chengdu R&D center, Sinochem Subcenter of National Sinochem Yunlong major importing channel for China, playing a constructive role Center for Biological Engineering Technology. Now we have three in stabilizing the supply for fertilizers as well as balancing overall subsiduary-level research centers and four enterprise technological market supply and demand. Meanwhile, we are one of the major centers. participants in China’s annual potash import negotiation, playing a constructive part in securing the import of potash into China. We Since 2013, the state kicked off the Bohai Granary Technology are also part of China’s national potash fertilizer strategic reserve Demonstration Project to deal with the problem of medium and system. low-yield field, shortage of fresh water in saline and barren soil. As one of the major participants, Sinofert is responsible for the " In marketing, while we continue to promote the construction Effective Fertilizer Research and Application for Regional Crops" of the core terminal outlets and development of key customers, project, with the focus on key factor of technology. By the end of Sinofert signed cooperation agreements on microfinance with 2014, we have had 180 Mu of demonstration field. China Minsheng Bank, Guangdong Development Bank and China

22 2014 ANNUAL REPORT 23 Seed Business Agrochemical Business

China Seed Corporation (China Seed), a subsidiary of Sinochem, agricultural service system. As a pilot unit of traceability Our pesticide business covers R&D on both innovative and domestic market. Shenyang Institute’s Safety Evaluation Center is the only national seed company that integrates breeding, management and commission management under the Ministry generic products, AI (active ingredient) production, formulation and Pesticide Testing Lab passed the GLP certification by the OECD production and sales. Our business covers major crop types of of Agriculture, the company conducts pilot projects in hybrid corn processing and packaging, product registration and brand member country Netherlands in 2012 and the reassessment in rice, corn, wheat, vegetables and rape seeds. It is the "leading seed, and achieves seed quality traceability of whole value chain- marketing domestically and internationally. We are the 2014, and the amount of GLP experiments grew by 15% year- agricultural company with high level of commercialization" jointly from production, processing, storage, transportation, marketing, leading company in China for proprietary pesticide products on-year. It actively promotes domestic pesticide and chemical recognized by 8 ministries and commissions. and technical guidance to farmers, and has effectively protected development, and the only Chinese company to operate high- products in world market. In 2014, Shenyang Institute and Zhejiang farmers' rights and interests. end global brand pesticides. By combining R&D with market Institute totally applied for 111 patents, and 63 patents were In technological innovation, we vigorously promote industrial demand, we are committed to becoming a leading global granted. upgrading by technological innovation, and actively create In terms of merger and consolidation, the company further professional service provider that enjoys advantages in brand business-oriented commercial breeding system. We are identified deepened strategic cooperation with Guangdong Academy of recognition, production, marketing, and technology. In 2014, we As for marketing, we constantly enhance our market channels by National Development and Reform Commission and four other Agricultural Sciences in 2014, and together with Modern Seed completed the integration of agro-chemical businesses, and sales at home and abroad. We own a series of brand names, including ministries as state-level enterprise technical centers. We implement Industry Development Fund increased its stake in Guangdong Gold revenue of pesticide business 8 billion yuan, which is among the “Jiangshan”, “Shuang Gong”, “Frog”, “Hetian”, “Honglingda”, etc. and medium- and long-term research and development strategies, Rice Co., Ltd., resulting in enhanced competitiveness in southern highest in China. are entitled to the franchise of the trademark of “Machete”, new and are dedicated to integrated conventional breeding techniques China. China Seed bought more stakes in Nunhems (Beijing) “Machete”, “Harness” and “Alachlor” in China, and we are the sole and modern biotechnology. We foster super crop varieties Seed Co., Ltd., Bayer’s subsidiary, which represents an innovation In terms of production, we have formed four major bases in distributor in China for “Roundup”, “RODEO”, “OMEX”, “Latitude” and featuring integration of "resistance to multi-diseases, high-quality, in deepening cooperation. In addition, the company steadily Shenyang, Yangzhou, Nantong, Lianyungang and Yangzhou, “Rocket” authorized by the suppliers. We enjoy the leading position wide adaptability, high fertilizer effectiveness, low heavy metal promotes internal integration in China Seed International Seed with total AI production capacity at 160,000 tons a year. Our in domestic high-end pesticide market. We bought Monsanto’s adsorption, and suitable for light simplify planting". China Seed Co. Ltd., consolidating Monsanto’s corn conventional breeding products span over herbicide, pesticide, fungicide and plant amide products business in India, Thailand, the Philippines, Science and Technology Center, the R&D institute with the largest resources in China, and introducing Monsanto’s advantageous regulator, including totally over 40 active ingredients, among Vietnam, Pakistan, Bangladesh and Taiwan, and own 45 product investment in China under China Seed, has accelerated scientific breeding materials and advanced IT production and management which pymetrozine, mesotrione having leading position globally brands in Southeast Asia. We have also acquired the concession as and technological innovation and commercialization of research system into China, and bringing together the two shareholders’ in output and techniques. We are the largest shareholder of sole agent to sell Monsanto’s “Roundup” products in Australia and findings. It has completed the first directional improvement of first corn seed marketing network, which paved the way for future Jiangsu Yangnong Chemical Croup Co., Ltd. (Yangnong Group), New Zealand, successfully marching into the Australian and New batch of backbone parent species, successfully created male sterile development. whose products, such as pymetrozine and mesotrione, are highly Zealand market. line with independent intellectual property right, and achieved competitive in China, and its production capacity is ranked second continuous output from cutting-edge technologies granted by On international development, as China Seed Trade Association’s in the world. Sinochem International, our subsidiary, is the largest provincial-level assessment. The company has taken key projects in member organization, China Seed participated in the organization shareholder of Nantong Jiangshan Pesticide and Chemical Co., Ltd. Sales Volume National Technology Support Plan, including “technology research and coordination of the 2014 World Seed Congress, which and model demonstration of major commercial crop breeding", was highly recognized by seed industries of various nations. In the aspect of R&D, we own two national level pesticide R&D cultivating of new varieties of GMOs, and a series of other key China Seed Hybrid Wheat Seed Industry (Beijing) Co., Ltd. and platforms, namely Shenyang Research Institute of Chemical national projects. As a central SOE, China Seed is an influential Pakistan Guard Agricultural Services Co., Ltd. signed commercial Industry (Shenyang Institute) and Zhejiang Research Institute of model in upgrading the scientific and technological level of cooperation agreement on hybrid wheat, marking a solid step Chemical Industry (Zhejiang Institute), and have 6 proprietary 8 modern seed industry. forward in promoting internationalization of two-line hybrid pesticides registered and sold in market, among which Flumorph billion yuan wheat technology and enhancing domestic wheat seed industry’s and Aike series products enjoy high recognition and influence in In production and processing, China seed has established nearly international competitiveness. 650,000 Mu of seed production bases (including companies we have a stake or under our control), which cover major crop In the future, we will continue to take as our responsibility to facilitate the development of modern agriculture and promote growing regions, and 15 supporting modern seed processing, grain supply in China. We will also continue to enhance the key links on the agricultural industry value chain and make our storage and transportation centers. In 2014, the Company signed best efforts to become a leading agro-input product and service provider in the world. strategic cooperation agreement with Jianning in Fujian to jointly promote the seed industry innovation model of "government + business + professional cooperative society + farmer". In addition, the company cooperated with Beijing Meteorological Bureau and China PICC to explore using large data analysis and forecasting tools and agricultural insurance policies, so as to reduce and prevent seed production risks.

Regarding marketing services, the company has set up 22 provincial-level marketing service centers in the country, spreading the sales network to all major agricultural regions. China Seed gives full play to the advantages of the integration of agricultural inputs, promotes pilot service programs of "combination of seeds and fertilizers" and "combination of seeds and pesticides" in Henan, Shandong, Sichuan and Hubei, and explores comprehensive

24 2014 ANNUAL REPORT 25 We hold competitive edge in such chemical areas as fluorine chemicals, natural rubber, rubber chemicals, fine chemicals, pharmaceuticals, chemical logistics, and petrochemical feedstock distribution. We have become the leading chemical products and service provider in China, and playing a constructive role in the technology upgrading of chemical industry as well as its safe, environment-friendly, and harmonious development.

Chemical business

Fluorine Natural Rubber Fine Chemical Pharmaceutical Chemical Petrochemical Chemical Business and Chemical Business Logistics Feedstock Business Rubber Chemical Distribution

2014 ANNUAL REPORT 27 Fluorine Chemical Business Natural Rubber Business and Rubber Chemical

Sinochem Lantian Co., Ltd. (abbr. Sinochem Lantian) is the leading developed around the globe. In the area of fluorine-containing fine As the earliest Chinese company involved in natural rubber trading, For production and processing, we keep optimizing our capacity player in fluorine chemicals’ R&D and production in China. It is chemicals, the TFA series we developed cover the most complete we have had natural rubber and rubber production operation layout across the globe. At present, we have manufacturing and also the Chinese company that enjoys the multilateral fund of the range of products and boast the highest product quality. As for for over 60 years. Our business covers natural rubber planting, processing capacity in such major natural rubber production Montreal Protocol, the international treaty designed to protect the new energy and new material, the fluorine-containing specialty production, processing, marketing and value-added service. region as West Africa, Souteast Asia, Yunnan and Hainan of China. ozone layer. Sinochem Lantian owns a complete industrial value film products applied on photovoltaic backsheet and the new Our business footprints spread across China, Southeast Asia and In 2014, we ramped up the capacity of TBH of Thailand and TRCI of chain integrating resource development (fluorite and hydrofluoric type of evaporation-cooling mediums for wind power generation Africa, forming a unique business landscape that integrates the Cote d’Ivoire by 50,000 tons through technology upgrading. Taking acid), R&D, production and sales. Its products blanket fluorocarbon broke international technological monopolies. The production international and domestic market, and blanketing both the the high-end radial tire as the featured product, the company is chemicals, fluorine-containing specialty chemicals, fluoropolymers, technology for highly reactive fluorination catalyst developed upstream and downstream areas. It makes us the pioneer in the and inorganic fluoride salt, with dozens of them taking up by us broke the international technological monopoly. and has supplying premium products for world-renown international tire major “One Belt and One Road” strategy of the central government. the largest share in Chinese and international market. Among been adopted the production of several products, and through companies as well Chinese tire companies. these products, “Jinleng” HFC-134a and R4 series products have its application we are able to reduce tens of thousands of tons We are the leading rubber business operator and service provider As for marketing and service, we keep enhancing our management realized cooperation with over 80% of the domestic automobile, of ODS emission every year. In 2014, we made 10 national level in China, and also the competitive natural rubber resources refrigerators and central air-conditioner manufacturers, and also and industrial level standards, and received 45 patents. The two developer and service supplier in the international market. Our on the supply chain. Through the sales outlets, storage hubs and established long-term partnership with many well-known brands national “863” projects we are in charge of have entered the stage resource covers Southeast Asia, West Africa, and Hainan and logistics service facilities across China as well as the overseas like BMW, becoming the NO.1 brand in the domestic automobile of completion acceptance. Yunnan of China. Our major customers locate in Asia, Europe and marketing platform like Singapore, we have strengthened our refrigerant as well as household and commercial air-conditioner America. By the end of 2014, we have owned 80,000 hectares of capacity to serve our downstream clients. We have also intensified In recent years, we have independently developed another refrigerant market. In 2014, “Jinleng” was named “China Famous natural rubber plantation globally, and 22 rubber processing plants the strategic cooperation with the Top 10 global tire players like refrigerant brand “Feng Leng”. One of the products under this brand Trademark”, with its brand value at RMB 1.386 billion. The “Kehua” in China, Thailand and West Africa, with annual processing capacity Bridgestone, Michelin, Continental and Goodyear, marking our TFA series of products occupy nearly 60% of the domestic market, series HFC-161 has become the substitute of HCFC-22. With its positioning at over 700,000 tons. In 2014, our natural rubber sales marketing scale ever expanding. with its sales maintaining 20% growth rate in the past two years. ODP at zero and GWP at 12, HFC-161 has blazed a new trail for the development of the global environmental-friendly refrigerants and volume surpassed 800,000 tons, which made us the third largest In terms of R&D, we fully leverage the Natural Rubber R&D Center We have 30 million MT of fluorite reserve, topping the peer makes contribution to the reduction of green-house gas emission, global player in terms of market share. to support the enhancement of our manufacturing and processing companies in the Chinese market. In addition, we are able to which made it a highlight in the 24th International Refrigerant In 2014, by taking the natural rubber resource as the core we process and the efficiency of our facilities, and to help the supply 80,000 tons of anhydrous hydrogen fluoride and 30,000 Expo. tons of trichloroethylene annually, creating a resource base that continued our strategy to extend to the upstream of the industrial debottlenecking of our plants and update our products. can prop up the long-term development of our fluorine chemical The company has set up 20 plus plants in seven provinces to chain, and expanded the plantation bank, and at the same time Our subsidiary Jiangsu Sinorgchem Technology Co., Ltd. (abbr. business. produce over 50 products or product mixes, with its production made effort to secure more processing capacity. By so doing, Jiangsu Sinorgchem) is the world leading rubber chemical supplier. capacity sitting at over 300,000 tons per annum. In 2014, the we realized operation with complete industrial value chain, and As the national key fluorine chemical research unit and the production lines for our trifluoro-series witnessed renovation Its product portfolio includes antiager PPD, intermediate RT base, enhanced our sustainability. National ODS Substitute Engineering Technology Research Center, and expansion; CFC-113a project was completed and put into insoluble sulfur, high purity TMQ, among which 6PPD and RT base’s Sinochem Lantian is the earliest player to get involved in halon and production. Our joint-venture projects with Solvay and Honeywell In terms of resource acquisition, we successfully acquired EUROMA capacity and market share top the list around the world. At present, ODS research and production. In terms of fluorocarbon chemicals, respectively were put into production one after another, which RUBBER of Malaysia, GMG Global Ltd. listed in Singapore, and TBH Jiangsu Sinorgchem has become the comprehensive operator of Sinochem Lantian independently developed over 40 proprietary intensified our position in the fluorine chemical industry. of Thailand, invested in SIAT of Belgium, thus secured new planting rubber chemical R&D, production, and marketing services, with its ODS substitutes, which nearly cover all the categories currently and production resource in Africa and Indonesia. clients covering the well-known tire companies around the globe.

28 2014 ANNUAL REPORT 29 Fine Chemical Pharmaceutical Chemical Business Chemical Logistics Petrochemical Feedstock Distribution

We are vigorously developing our fine chemical business. we have Our pharmaceutical chemical business covers R&D, manufacturing Our chemical logistics business, led by Sinochem International, Sinochem Group is one of the largest comprehensive distributors strategic cooperation with international and domestic leading and distribution, and has competitive edge in technology involves shipping, IOS tank containers multimodal transport, and services providers of petrochemical feedstock in China. We players on WPU, water-based functional material, polyether raw innovation, scale production, international operation and domestic freight forwarding and terminal storage tanks, with total assets owns favorable upstream and downstream cooperation relation, value reaching nearly 7 billion yuan. Our shipping capacity and material, PU products, and have built up leading position. in certain market distribution. logistic and distribution, technology support, with our distribution scale for liquid chemicals enjoys leading position in Asia, while the water-based coating adhesives. network all over China. We have become the most influential tank container transportation capacity and fleet size is among the Through offering contracted R&D service and providing tailored service provider in chemical trade and distribution. We are mainly top in the world. We are able to provide comprehensive chemical Our subsidiary Yangnong Group takes the lead and exerts global processing services of special intermediates for our clients, we engaged in bulk chemical raw materials and plastic products. In logistic solutions to customer with high efficiency at low cost. influence in the markets of chlorination and nitration of benzene, further expanded cooperation with internationally renowned 2014, our petrochemical raw materials sales volume exceeded 4.3 ECH, agro-used and sanitation-used dimethrin, and epoxy pharmaceutical companies. In addition, Shenyang Research In the shipping area, we are one of the largest professional million tons, which generated RMB 32 billion revenue; the styrene chloropropane. Its production capacity for chlorination, nitration Institute for Chemical Industry is the first safety assessment operators for liquid chemical ships in China. It owns 70 IMO II/ sales account for more than 20% in China; its imported amount of is among the top in the world, the production capacity and market institute with GLP accreditation granted by OECD country. It is able III bulk liquid chemical ships, the capacity of which ranging from ethylene glycol is also the largest, and that of polyolefin is among 1,000 to 45,000 tons, which add up to a total shipping capacity share of agro-used and sanitation-used dimethrin were among the to conduct safety assessment and testing for pharmaceuticals, the top five in the country. The amount of exported mornitered of 900,000 tons. We provide shipping service for all kinds of bulk top worldwide. The equipment for producing ethoxyline resin that pesticides and other chemical products. chemicals (MCCs) makes up 60% of the country’s total; the sales liquid chemicals, highly hazardous liquid chemicals, acids, refined volume of acetone, BPA is among the top in China. employs the bio-based glycerol method, the first of its kind and oil, edible oil, animal and plant oil, and other specialty chemicals, by Yangnong’s indigenous technology enjoys leading position in DSM Sinochem Pharmaceuticals (DSP), our joint venture with and is one of the largest professional operators of liquid chemical Sinochem Plastic Co. Ltd., our subsidiary, has established a terms of production capacity in China. Currently Yangnong Group Royal DSM N.V., is a company running global operation. It employs shipping in China. We have set up a set of safety management business pattern centered on key customers and based on “Green Enzyme” technique to produce anti-infective drugs and system reaching the international standards. Our ships reach the has 4 fully-equipped fine chemical industrial bases, among which resource acquisition, product marketing and risk control, and cardiovascular drugs. It takes the lead in the globalβ-lactam acceptance standards of such large oil companies as SHELL, BP, the one located in Zhongwei of Ningxia owns the production is committed to providing comprehensive service solutions to anti-infective AI market. Drawing upon it advanced technology, BASF and CHEVRON. We partnered up with Dorval SC Tankers qualification to produce phosgene, which is quite rare in the customers. In terms of transport and trade coordination, the sustainable development philosophy, and global operation Inc to set up a joint venture Sinochem Dorval, by leveraging the market. company conducted 75 voyages alone to the Middle East, the and service system, it is supplying clients with safe and reliable strength of Dorval on the Australian and New Zealand routes to better service global clients. Sinochem International’s 27 ships cargo including core products like ethylene glycol, methanol, base In terms of R&D, Yangnong Group is a national key high-tech products. received the direct shipping qualification, becoming the major oil, two DEG, liquefied gas. As for resource acquisition, we keep company, and has built a national-level corporate technology force for transporting liquid chemicals across the Strait. In terms of the international distribution, we provide our enhancing our partnership with international suppliers, such as center, a postdoctoral research station, and a professional research SABIC, SHELL, CMO, FORMOSA, and BASF. In the area of distribution customers with such value-added services as tailored processing In terms of ISO tank containers logistics, we are the largest institute and an engineering technology company that focus on network, we have two operation platforms, set up branches and and manufacturing, registration and auditing. We also introduce specialized tank containers operator in Asia, and the only tank pesticide, fine chemical and resin material. It has strong capability offices in Singapore, Dubai, Korea and Taiwan, owns 17 branches high-quality AI and new, special and premium formulations into container operator in Asia that has realized a global operation. for developments of industrilization and commercialization. domestically, covering the major market in China. the Chinese market. At present, it owns nearly 20,000 T11, T20, T50 and other types of ISO tanks, and has a professional and a highly-efficient service Zhejiang Intmedic Group Co., Ltd., of which Sinochem Lantian management team. It is mainly engaged in transportation of liquid is the majority shareholder, has its major business spreading and gas chemicals, food and household chemicals. In 2014, we formed a joint venture with NEWPORT, in a bid to strengthen our In the future, circling with key sub-sectors of chemical across medicine, traditional Chinese medicine, and biomedical global operation platform using the latter’s resource advantages. industry like fluorine chemical, nature rubber and rubber device. Its business types include pharmaceutical distribution, chemical, fine chemical, pharmaceutical, chemical logistics, modern logistics, e-commerce, production and processing, and As for terminal storage tanks business, Sinochem set up two joint and petrochemical distribution, we will further enhance our end-custumer retail. It overtakes the task of the pharmaceutical ventures with Lianyungang Port Group , namely Lianyungang Port capacity on resource acquisition, technology development warehousing for Zhejiang Province and Hangzhou Municipality. International Petrochemical Storage Company and Lianyungang and market exploration, consolidate our industrial It has become the core company for provincial pharmaceutical Port International Petrochemical Harbor Service Company, which has throughput capacity of 5 million tons per year to perform position, and facilitate the chemical business’ sustainable warehousing, modern pharmaceutical logistics, and third party chemical warehousing, customs bond, cargo loading and development. pharmaceutical logistics in Zhejiang province. unloading services.

30 2014 ANNUAL REPORT 31 As one of the central SOEs approved by SASAC to run property development and hotel operation as one of its core businesses, Frashion Properties (China) Co., Ltd. (Franshion Properties), controlled by Sinochem Group, ranks among the Hang Seng Composite Index. Our vision is to become a “respected leading quality properties developer”; our mission is to “unleash future urban vitality”; and we adhere to the strategy of high quality and green architecture. It has become the leading high-end real estates developer and operator in China.

We focus on the development opportunities in first-tier cities, developed second tier cities, Planned GFA and famous tourist spots. We are engaged in high-end real estate development, commercial leasing, hotel investment and operation, and retail business development and operation. It has developed a series of high-end properties with the brand name of "Jin Mao". By the end 30 of 2014, the company had developed a great number of quality projects in Beijing, Shanghai, million square meters Sanya and Changsha. Its land reserves (including level one development land reserves) reached a planned GFA of 30 million square meters. The company also owns Shanghai Jin Mao Tower, Beijing Chemsunny World Trade Center, Nanjing Xuanwu Lake Jinmao Plaza, Changsha Meixi Lake International R&D Center and a batch of landmark projects in other cities; and has invested and owned several five-star hotels.W e control Jin Mao Investment and Jin Mao (China) Investment Holding Co., Ltd. which was listed on HKSE in July, 2014. The move further propels our strategy of “selling plus holding”.

We deem our green strategy as the important soft power for innovation and differentiation. Our business guideline called “Green Technology, Jin Mao Quality” embraces five aspects including “philosophy, model, standard, life and attitude”, has be embedded into the gene of “Jin Mao” series of products, and becomes a green real estate development benchmark highly recognized by the industry in China. In 2014, we took part in formulating many national-level standards like Standars for Green Assessment on the Existing Architecture Renovation and Achitecture Carbon Emission Calculation Standards.

Distribution of Sinochem's Real Estate Business

Beijing Chemsunny World Trade Center Sinochem Tower Renaissance Beijing Wangfujing Hotel The Westin Beijing Chaoyang Beijing Guangqu Jin Mao Palace Property Development Beijing Wangjing Jin Mao Palace Commercial Leasing Beijing Ya’ao Jin Mao Residence Beijing Yizhuang Jin Mao Residence Hotel Operation Beijing Yizhuang Jin Mao Noble Manor Retail Business Qingdao Shinan Jin Mao Harbour Qingdao High-tech Zone Project

Nanjing Xuanwu Lake Jin Mao Plaza Westin Nanjing Nanjing Jin Mao Place Nanjing Shangfang Project

Suzhou Gusu Jin Mao Palace Chongqing Daping Jin Mao Delicate Residence Shanghai Jin Mao Tower Chongqing Panlong Jin Mao Residence Grand Hyatt Shanghai Chongqing Konggang Project Beijing Hyatt Regency Chongming Shanghai Real Estate Business Shanghai J·LIFE Changsha Meixi Lake New International City Qingdao Shanghai Port International Cruise Terminal Changsha Yuelu Jin Mao Landscape Metropolis Shanghai International Shipping Service Center Changsha Meixi Lake Jin Mao Residence Shanghai Star Harbour International Center Changsha Meixi Lake International Research Center Nanjing Shanghai Dongtan Jin Mao Noble Manor Changsha Meixi Lake Jin Mao Plaza Shanghai Daning Jin Mao Palace Suzhou Shanghai Hangzhou Hangzhou Huanglong Jin Mao Residence Chongqing Ningbo Lijiang Jin Mao Whisper of Jade Dragon Lijiang Snow Mountain Jin Mao Noble Manor Ningbo Nantang Jin Mao Palace Lijiang J·LIFE Changsha Grand Hyatt Lijiang Lijiang Guangzhou Guangzhou Nansha Jin Mao Harbour Hilton Sanya Resort & Spa Guangzhou Guanggang Project Zhuhai Shenzhen The Ritz-Carlton,Sanya Project Commercial Hotel Retail Sanya J·LIFE JW Marriott Shenzhen Development Leasing Operation Business Sanya Yazhou Bay Project Sanya Zhuhai De Insight

2014 ANNUAL REPORT 33 Project Development Commercial Leasing

Since Shanghai Jin Mao Tower was completed in 1998, we have Shanghai Star Bund project includes Shanghai Port International We have a total floor area of 500,000 square meters of high-end Gulou District of Nanjing, is built in accordance with North developed many landmark buildings, including Shanghai Fortune Passengers Center, Shainghai International Cruise Terminal properties in Beijing, Shanghai and Nanjing. Our management American 5A standard. Meixi Lake International R&D Center, Plaza, Beijing Chemsunny World Trade Center, and Shanghai Project, and Shanghai Xinggang International Center, which are quality and occupancy rates are among the top in the market for which is located in Xiangjiang River New District in Changsha, Port International Passengers Center. We are also developing located in the core area of Hongkou North Bund Region. This area many years. In 2014, we continued to raise the rent fees for our many residential building projects, including Beijing Yizhuang is home to the Headquarters of many world-famous companies, is expected to be completed in 2016. Jin Mao Dwelling, Shanghai Daning Jin Mao Mansion, Lijiang Jin making it the new CBD of the city. We aim to build a green office buildings, yet the occupancy rates remain high, and the Mao Snow Mountain Whisper, Changsha Jin Mao Meixi Lake and landmark in China through this project. It is the largest green overall quality of our properties is on the rise. Guangzhou Nansha Jin Mao Bay, which add up to the upscale commercial building groups in Asia; has won the title of “National “Jin Mao” series of residential products represented by the six Green Architecture Pilot Project Base”; and received the credetials Beijing Chemsunny World Trade Center and Sinochem Tower concepts of “Mansion, Dwelling, Manor, Mountain, Lake and of “3-Star Green Architecture Assessment Indentification” granted are located at the intersection area between Chang’an Bay”, possessing strong presence in China’s high-end real estate by Ministry of Housing and Urban-Rural Development, LEED- Avenue and Financial Street commercial district. Shanghai industry. CS Golden Price granted by USGBC, and BREEAM “Very Good” Certification by BRE. Jin Mao Tower, one of China's landmark buildings, sits at GFA of High-end Properties We position ourselves as a company that pursues leading quaility the financial and trade district of Pudong Lujiazui area. It is in the market. At present, we have 30 projects under construction uniquely positioned to become the preferred place for well- in 12 cities including Beijing, Shanghai and Guangdong. The total area under contruction is over 4.7 million square meters, a steady Total Area Under Construction Sales Volume known domestic and international institutions in Shanghai. increase by size. In 2014, Franshion Property made its debut in Xuanwu Lake Jinmao Plaza, the first phase office building 500,000 square meters the Hangzhou market, and also win the bid in several premium of which is located at the heartland of Zhongyang Road in land blocks in Beijing, Shanghai, Guangzhou, Nanjing, Chongqing and Changsha. The annual sales reached RMB 21.5 billion, up by 4.7 21.5 million square meters billion yuan 53% compared to last year.

34 2014 ANNUAL REPORT 35 Hotel Operation Retail Business

Our hotel projects focus on five-star luxurious hotel operation. peers in the region with its unique location and high-quality We are committed to developing and operating high quality as well as Chinese and Western restaurants, and has become a We own several first-class international hotels at golden locations service.The Chongming Hyatt Regency Hotel, sitting at Shanghai retail commercial projects. Building on our successful projects center of high-end services in Pudong of Shanghai. of first-tier cities and famous tourism spots. By the end of 2014, Chongming Island, is the first five-star hotel in the area, and also of Shanghai and Sanya lifestyle centers, we have redoubled our development efforts. Our business line covers city commercial Sanya Jin Mao center of life fashion, located in Sanya Jin Mao Ritz we have nine hotels across China, located at Beijing, Shanghai, the world’s fourth and China’s first Hyatt Regency resort hotel. It centers, community businesses, tourism real estate and Carlton Hotel, has attracted many well-known brand's flagship Sanya, Shenzhen, Nanjing and Lijiang. The total building area was opened on March 29, 2014. supporting businesses. stores, and is a center of high-end service in Yalong Bay in Sanya. reached 580,000 square meters, and the number of hotel rooms amounted to 3695. At the Yalongwan national tourist resort spot in Sanya, Hainan, Jin Mao Lijiang River lifestyle center, which is part of our Snow Nanjiang Jin Mao Plaza, located on the central axis of Nanjing, Fransion Property owns Jin Mao Sanya Ritz-Carlton Hotel and Jin Mountain Whisper Project in Yunan, is the flagship high-end is adjacent to the Hunan Road CBD, overlooks the Xuanwu Lake, On July 2nd, 2014, the company divested Shanghai Jin Mao Tower and opposites the Zijin Mountain, enjoying a favorable location. Mao Sanya Hilton Hotel. In 2014, these two hotels’ performance tourist resort project presented by Franshion Properties. The and our hotel business, and listed it through share stapled units project, which was officially launched in the end of 2014, provides The total floor area of the project is around 880,000 square continued to take the lead in the Yalongwan high-end hotel issuance on the main board of Stock Exchange of Hong Kong by such services as catering from all over the world, customized meters. The project covers four major business types, including market. Jin Mao Investment and Jin Mao (China) Investment Holding Co., service, boutique retailing, etc. “retailing of high-end products, upscale services, international Ltd. The divestiture and IPO of the hotel segment has effectively gourmet, and family entertainment.” It is currently under Beijing Jin Mao Westin Hotel, located at Yansha Business The J·Life (Jin Mao Life) Center Located in the Jin Mao Tower renovation, and will be reopened on September 26 in 2015 with released the value of our hotel assets, expanded the channel District, has become the first choice for many important foreign in Shanghai brings together a number of well-known brands’ higher product and service quality. for investment and financing, optimized the company’s capital politicians when they visit Beijing.Renaissance Beijing Wangfujing flagship stores, covering retail, personal care and personal service structure, and at the same time built a listed platform specilized Hotel, sitting at the north end of Beijing Wangfujing Avenue, was for hotel holding and operation, which provides strategic overhauled and put into operation on August 29, 2014. Beijing interraction and capital circulation with the company’s property In the future, our real estate business will continue the brand philosophy of “pursuing higher goals, and building the future”, Eastern Garden International Conference Center in Shunyi District development business. It sustains and enhances our “Holding + maintains “sales plus holding” two business models, and bears in mind the need of custumers. We will stick to our quality is having its service and market influence on the rise. Developing” strategy. requirements of “delicate work, green and health focus, intelligence and technology reliance”, and at the same time highlight our innovative notions in providing service, namely “multi-dimensional supporting system, excellent experience with The Grand Hyatt Hotel, located in the 88-storey Jin Mao Tower Lijiang Jin Mao Grant Hyatt Hotel, located at the foot of Yulong value-added service, convenient and care-free style”. Based on the guidance of our outstanding strategy, first-class team at the core area of Shanghai Lujiazui District, has maintained a Snow Mountain, witnessed its grand opening on September management, premium product support, and continuous service innovation, we believe our group will make even more competitive occupancy rate and average room fee among its 28, 2014. progress in the deep restructuring of the realty industry.

36 2014 ANNUAL REPORT 37 Sinochem spans a range of financial business, including trust, leasing, securities investment fund, finance company and life insurance, which have formed a fully-qualified non-banking financial business framework.W e have cultivated several competitive and influential brands, including ‘FOTIC’, ‘Far East Horizon’, ‘Lion Fund’ and ‘Manulife-Sinochem Life Insurance’, and have constantly strengthened the risk control capacity and profitability.

Financial Business

Trust Business Financial Finance Securities Life Insurance Leasing Company Investment Fund

2014 ANNUAL REPORT 39 Trust Business Financial Leasing

China Foreign Economy and Trade Trust Co., Ltd (hereinafter a post for the 8th ‘Trustees · Best Company’ award, and has won Sinochem is the largest shareholder of the Hong Kong listed sectors of public transportation, utilities and energy saving grew as ‘FOTIC’), a subsidiary of Sinochem, was founded in 1987. a series of awards including ‘China Top 10 Trust Agencies’, ‘Best company Far East Horizon Co., Ltd. (hereinafter as ‘Far East fairly fast. With business expanding, we strengthened innovation FOTIC holds one of the Vice President chairs in China Trustee Brands of the Year’, ‘The Most Steadily Growing Trust Companies’, Horizon’). Far East Horizon follows the business philosophy of and unveiled new financial products. We actively explored new Association. Sticking to the business philosophy of ‘Steady ‘China Sunshine Private Equity: Trust Companies with Best Risk ‘Finance plus Industry’, and supplies clients with diversified and patterns of fund business, and our factoring business grew Growth &Readiness for Change, Integrity towards Clients Control’, ‘Best Securities Investment Trusts Plans’ &’The Most comprehensive industrial operation services by dint of ingenuity substantially. The "brick-and-mortar" financial platforms of &Respect for Talents’, FOTIC is dedicated to providing quality and Innovative Trusts Plans’ etc. for its products and services. It has become the forerunner in hospital management, hospital investment and operating leasing professional financial products and services to all clients through China’s innovative financial service sector. maintained momentum, forming efficient synergy with traditional specialized operation and business innovation. FOTIC has financial businesses. Far East Horizon firmly takes root in China’s basic industries. developed the ‘4 plus 1’ main businesses portfolio, covering such In such areas as medical care, packaging, transportation, In 2014, Far East Horizon’s interest-bearing assets reached 100.8 areas as asset securitization, MOM trusts, securities investment construction, industrial equipment, education, textile, electronic billion yuan, a year-on-year increase of about 25%; equity capital trusts, micro &small finance, wealth management, family trusts, information and public utilities, Far East Horizon stays focused was 17.45 billion yuan. We continued to maintain the leading real estate trusts, infrastructure trusts, designated placement, on the needs of the clients, and engages in financial services, position in the China’s financial leasing industry. funds and futures. It took the lead in the industry to roll out industrial investment and operation, business leasing, trading ‘Five Elements Wealth Management’ products to provide high brokerage, management consulting, engineering service and net worth clients with wealth management and value added other industrial operation services, cultivating the strength in Interest-bearing Assets Equity Capital services, thus becoming a pioneer among its peers to run wealth matching financial resources with industrial development, and management business. Asset Under Our Management Exceeded boosting finance and industry together. In 2014, FOTIC’s net asset was nearly 6.5 billion yuan, its trust In 2014, Far East Horizon made new progresses in opening up 100.8 17.45 assets exceeded 500 billion yuan, which created more than 40 billion yuan billion yuan sub-sectors up and down the industry chain. Our business in the billion yuan trust net income for its clients. With its outstanding 500 billion RMB performance in the financial market, FOTIC continued to hold

40 2014 ANNUAL REPORT 41 Finance Company Securities Investment Fund Life Insurance

Sinochem Finance Co., Ltd. (hereinafter as ‘Sinochem Finance’), Sinochem Group has investment in two fund management Manulife-Sinochem Life Insurance Co., Ltd. (hereinafter as our subsidiary, was founded in 2008. It is one of the finance companies, namely Lion Fund and Baoying Fund. Lion Fund, ‘Manulife-Sinochem’), the first Sino-foreign life insurance joint venture in China, was co-founded by Sinochem Group and the companies that are directly supervised by China Banking which we are the main initiator, was founded in December 2008. Regulatory Commission (CBRC). It upholds the guideline Canada-based Manulife Financial Corporation. The company By the end of 2014, it had 37 funds under its management, of ‘Relying on and Serving the Group, Standard Operation has over 12,000 employees and insurance agents serving over with the total asset value nearly 65.9 billion yuan. The company &Expanding through Innovation’, and provides financial service 830,000 clients. for Sinochem throughout its industry chain and value chain. was authorized in May,28 to run QDII overseas securities Over the past 18 years, Manulife-Sinochem has been committed Sinochem Finance actively acquires operating licenses, expands investment management business, and was among the first to becoming a model for joint venture life insurance companies channels and enhances richness for its business. Sinochem batch of companies permitted to operate separately managed by dint of its prudent operation. Its business has been growing Finance deals in capital pool building, financing service, assets account. Lion Fund’s core business covers stock selection, specific steadily in over 50 cities. management and financial agent business. Sinochem Finance investment, flexible allocation, strategic selection and other provides diversified value added services for the group members categories. in terms of increasing capital expenditure efficiency, curtailing Clients Number cost of capital and strengthening risk control. Baoying Fund was established in May,2001. By the end of 2014,

In 2014, Sinochem Finance made great efforts to enhance its its assets under management had reached 42.4 billion yuan, and market-oriented operation capabilities, professional services and it managed 9 funds and 62 segregated accounts. 830,000 lean management approach. By further developing the financial service platform in compliance with the group’s strategy of strengthening management control system, Sinochem Finance In the future, we will continue our financial products and services innovation and constantly enhance our risk control ability. achieved breakthroughs and development in various areas of Our aim is to strengthen our leading position in various financial sectors, facilitate the sustainable development of the comprehensive financial services. financial industry, and create more value for our clients and for the society.

42 2014 ANNUAL REPORT 43 Tendering Business Energy Conservation and Environmental Protection Business

Sinochem International Tendering Co., Ltd. (hereinafter as Sinochem Energy Conservation and Environment Protection ‘Sinochem Tendering’), our subsidiary, is one of the first (Holdings) Beijing Co., Ltd. (hereinafter as Sinochem Energy Conservation and Environment Protection) is our high-tech comprehensive bidding service providers in China and its subsidiary specialized in energy conservation and environment business scope covers international and domestic bidding, import protection services, as it is able to provide comprehensive agents, centralized procurement, government procurement, cost energy-saving services. The company is accredited as ‘National consulting, business consulting, logistics management, etc. It high-tech enterprises’, ‘High-tech enterprise of Zhongguancun, China's Silicon Valley’, as well as an energy service conservation has a wide array of qualifications including ‘Class-A Government company approved by National Development and Reform Procurement Tendering Agency’, ‘Class-A Engineering Tendering Commission (NDRC) and the Ministry of Finance. Agency’, ‘Class-A Tendering Agency for Central Government’s Investment Projects’ and ‘Class-A International Tendering In the field of energy conservation, Sinochem Energy Conservation and Environment Protection focuses on saving Company’, as well as certifications like ‘ISO9001 Quality energy for industries and buildings, and provides customers with Management System Certificate’, ‘Class-AA Enterprise Certificate comprehensive energy-efficient solutions. In terms of industrial approved by Beijing Customs’ and ‘Certificate of Classified Military conservation, by relying on contract energy management Business Consultancy Service Security Conditions registered by business model, the company completed projects of boiler furnace renovation, residue heat and pressure utilization, State Administration of Science, Technology and Industry for frequency converter renovation and electricity conservation and National Defense’. control. As for energy conservation for buildings, the company provided comprehensive energy solutions, including green Sinochem Tendering has been awarded ‘China's 10 Top-notch lighting, central air conditioning, automatic control optimization Brands for Tendering Agencies’ for six consecutive years, and has and utilization of new energy, for hospitals, hotels and office won ‘Ten Most Competitive Tendering Agencies Award’, ‘Pioneer buildings. Tendering Agent of Integrity and Excellence’, ‘China’s 100 Most In the field of environmental protection, Sinochem Energy Competitive Tendering Agencies’ and other honors. Conservation and Environment Protection gradually grew into a provider of comprehensive environmental protection services that combines consulting, investment, designing, construction and operation. In 2014, the company obtained two national invention patents for water treatment, where great success has also been achieved in terms of fine chemical waste water treatment. With respect to solid waste processing, the company developed businesses involving waste incineration power generation, industrial waste treatment, sludge treatment and other services.

Other Businesses

Tendering Energy Conservation Business and Environmental Protection Business

2014 ANNUAL REPORT 45 CORPORATE CITIZENSHIP

Sinochem’s Vision

Pays Off Its Shareholders, Creates Value And Is Trusted By The Ttate

Serves Its Customers, Cooperates With Them And Is Relied By Them

Attaches Importance To Health, Safety, Environmental Protection And Energy Conservation, And Is Able To Develop Sustainably

Cares Its Staff, Grows Together With Them And Is Loved By Them

Abides By Law, Creates Benefits ForT he Public, And Is Respected By The Society

46 2014 ANNUAL REPORT 47 Serving the Development of the National Economy and the In terms of on-site safe production, we regard behavior safety programs with tests, in order to improve professional energy Improvement of People’s Livelihood improvement as the starting point, published "eight dangerous management. operations" risk management standard by taking into account felt When it comes to occupational health, we have consolidated As an enterprise operating globally and a member of the We actively assumed and successfully completed and managed leadership, line responsibility, territorial management, behavioral occupational health infrastructure, strengthened legal compliance United Nations Global Compact, Sinochem Group is devoted the National Strategic Crude Oil Reserve Base to receive and observation, security sharing, visual management, etc., standardize and monitoring in a bid to standardize daily occupational health to sustainable economic and social development, and regards storage both crude and refined oil, advise on national oil enterprise on-site operations; we launched "six prohibition and management; through on-site guidance, education and training, social responsibility as an important part of its gene and core reserves procurement, leasing, rotation and utilization, and six rectification" special campaign, promote security automation, "flying inspection" and other ways, we promote implementation competitiveness; it integrates the concept of responsibility into make recommendations to reducing the cost and improving conducted auditing, so as to enhance on-site safety; we use HSE of the targets;, and through training programs, we set up internal the company's mission, culture and value, and into daily operation the management of oil reserves. For years, we have continued internal certification training as a platform, sequence construction subsidiaries as examples for them to "learn by example and catch and management activities. It strives to achieve scientific, green, to participate in and successfully complete the tasks of national as the basis, and training matrix as a tool for capacity building; we up with the benchmark". and harmonious development, and improve people's well-being, fertilizer and seed storage to stabilize prices and ensure supply for employ benchmarking activities as the starting point to promote so as to sharpen Sinochem’s brand image as a “responsible Chinese changing seasonal demands, playing the role of “national team” in the continuous improvement of HSE management. For emergency management, we have improved emergency central SOE”. agro-supply market. We built a world-class commercial breeding management organizations at all levels, identified organization With regard to environmental protection, we consider environmental platform - "China Seed Life Science and Technology Center", the and personnel standard, consolidated emergency response team We connect our corporate development with the bigger picture of compliance, misconduct punishment, environmental emergency largest of its kind in China to carry out proprietary biological building, improve applicability and operability of emergency national development strategy and general public’s need, focus on plan as the direction, and promote continuous improvement of breeding and conventional breeding. We use our leading edge response procedures from headquarters to frontline response our major business segments that are closely related to the national corporate environmental performance by reviewing and rectifying in the field of pesticides and, by leveraging safety assessment card, continued to increase emergency resources investment, economy and people’s livelihood, improve our service ability with problems; we vigorously promote clean production, strengthen agencies that have passed international GLP system certification and actively carry out emergency drills, with an aim to improve energy conservation assessment efforts, and replace training the capacity of the full industry value chain, safeguard national and key national new pesticide creation and development emergency handling capability. energy security and agricultural security, promote the progress of laboratories, to provide high quality, environmental-friendly chemical industry, and grow together with the motherland, so as customer service pesticide products. to better serve the people and improve their living standards by quality services and products. Upholding the business philosophy of “creating more value for of farmers and, by relying on nationwide distribution networks, clients through value-added services, and creating more value we integrate resources to launch a series of “Sinochem’s Affinity for the company through satisfying our clients”, we take customer to the Agricultural Sector” activities, including jointly promoting service as the core, keep exploring more service ways and scientific fertilization techniques, setting up Farmer’s Field Schools Health, Safety and Environmental Protection improving service quality, and try to develop together with our and Sinochem vegetable hospitals, safeguarding farmers’ rights, clients. and securing supply of quality products to help and protect We regard occupational health, safety and environmental In 2014, we continued to push safety standard to the limit with farmers, and promote sustained, sound development of modern protection as an important part of corporate social responsibility, "iron fists", stress problem rectification, focus on promoting on-site We make best efforts to expand our oil trading resources at agriculture. In the field of chemical logistics, we own the largest and integrate them into our sustainable development strategies. HSE situation. No relatively large safety accidents, environmental home and abroad, reduce customer’s purchase cost through our liquid chemical shipping fleet and isotank fleet with the highest We strive to build a safe, environment-friendly and resource-saving accidents or occupational diseases occurred throughout the year. professional methods and rich experience. By enhancing credit safety standards, and are able to provide customers with high- enterprise, and achieve harmonious development among people, Our HSE management work was ranked first in SASAC’s specific management and measurement facility, we provide trustworthy quality liquid chemicals transportation services in domestic coastal nature and environment. item assessment. and high-efficient storage services.W e focus on the actual needs areas and through long and short international voyage routes.

48 2014 ANNUAL REPORT 49 Employee’s Development public welfare

We regard employees as the driving force for our growth, and abide We encourage employees’ participation in company management, While we promote social progress through our operations, we also and 144 million yuan allocated to the program. Infrastructure has by laws, rules and regulations of the state. Through innovating and crate a stable and harmonious labor relationship. We actively participate actively in social welfare undertakings and innovate in been built and vocational training was conducted in Tibet, Inner mechanism for talent selection, we protect employees’ rights, promoted the release of the company’s daily operations on a poverty reduction models to pay back to the society, achieve win- Mongolia and Qinghai, which benefited farmers and herdsmen, respect employees’ value, and grew together with our employees. regular basis and through using information technology, and win outcomes with our partners, and contribute to social harmony and boosted the development of local infrastructure, production, By the end of 2014, our total headcount was 47,920, with average publish major decisions and matters of employees’ concern in and progress. healthcare and education causes. age of 33. accordance with regulations. Since the launch in 2002 of poverty aid program, we have followed In 2013, we launched a credible and reliable donation platform for We attach great importance to employees' career development, As a multinational company, we comply with international the principle of “teaching methods of shaking off poverty first, employees - "Dream Fulfilling Action". 119 employees voluntarily and provide different career paths for them, including behavior norms and laws and regulations of the host country. We providing financial assistance second”, adhered to the guideline of funded 160 students. Since 2009, our subsidiary Sinochem management, technical and production skills; we help them treat staff of different nationalities, colors, races, genders, religions “bringing together mindset transformation and material assistance, International has cooperated with the Chinese Red Cross develop by conducting training programs, action analysis, case and cultural backgrounds fairly and equally in recruitment, and combining intelligence investment with project investment”. Foundation to donate 17 medical stations in central and western studies, mentoring, etc.; and give them care and create a good compensation and promotion. We exploit talents from all over Over the past 12 years, more than 20 personnel have been assigned China, which greatly improved local villagers' medical treatment. working atmosphere by conducting sports activities, paying the world to promote sound and sustainable development of the attention to their mental and physical health, and implementing company. employee assistance programs. Building Harmonious Overseas Community

We adhere to market-based compensation philosophy, actively Employees Number While we stress our own development, we actively participate in In Colombia, we actively provide financial supports to help explore different incentive mechanisms, respect and encourage the construction of public utilities where we have presence, and develop local healthcare, education undertakings and build employees to create value; constantly improve the honors system grow together with the local communities. up infrastructure. In terms of education, more than 80 people of model workers and advanced workers and so on, in a bid to have benefited from community professional training programs motivate employees to strive for excellence. 47,920 We have set up Community Relations Department in overseas provided by us. We helped build education facilities, cafeterias project companies, which are responsible for planning and carrying and dormitories in GIGTANTE, MANI-CASANARE region and OMBU out community work. We have adhered to the philosophy of region, which benefited more than 5,000 people. “mutual benefit, win-win cooperation and common development”, sharpened our brand image as a “responsible Chinese central SOE”, In Hui'an County, Fujian province, the Douwei Port near Dumei and explored a cooperation method which underlines blending coast area used to be threatened by seawater erosion. Sinochem into local communities. We promote common and sustainable Quanzhou Petrochemical Co., Ltd. works together with the local development between enterprise and local economic and social governments to pave project pipeline with seawall together and progress through cultural exchanges, staff and procurement form a flat area of 40,000 square meters, which ensures the safety localization, public welfare programs and environmental protection of coastal villages, for fishermen. measures.

50 2014 ANNUAL REPORT 51 2014 Key Events

On Apr. 1th, Fortune (Chinese Version) revealed the list for ‘China’s Top 50 Most Influential Business Leaders’, where th On Jan. 8 , the international rating agency Fitch raised its rating on Sinochem from BBB+ to A-. Sinochem President Liu Deshu has been listed among top 10 for the fourth straight year.

th On Jan. 16 , Sinofert and the Planting Industry Management Department of the Ministry of Agriculture signed ‘the On Apr. 2nd, together with the Ministry of Agriculture , Sinochem held the launch ceremony for the establishment MOU of Cooperation for Pressing Ahead with Scientific Fertilizing’. Both parties cooperated comprehensively in of the model county of formulated fertilizers promotion for agrochemical service and agribusiness cooperation in 01 terms of establishing and releasing fertilizer formula, producing and supplying formulated fertilizers, instructing 04 January April Yiyang of China’s Hunan Province, as part of ‘Sinochem’s Care &Peasants’ Dream’ series. and servicing farmers’ fertilizing activities etc., thus underpinning the process of ensuring national grain safety, agricultural products’ quality safety as well as agroecological safety. On Apr. 14th and 17th, the credit rating for Sinochem Hong Kong (Group) Co., Ltd. was raised from BBB+ to A- by Moody and S&P, the international credit rating agencies. From Jan. 20th to 21st, the 2014 Working Conference of Sinochem Group and Sinochem Corporation convened and set the keynote as ‘Aspiration with Steadiness &Ingenuity in Reform’. On Apr.18th, with Sinochem Hong Kong (Group) Co., Ltd. as the issuer, Sinochem Group set up the overseas Medium-term Notes (MTN) Program, the maximum value being USD 3 billion. And we completed the first USD 500 million of bond issuance under the above-mentioned Program.

On Apr. 30th, Shenyang Institute’s Safety Evaluation Center and Pesticide Testing Lab passed the Good Laboratory Practice (GLP) extended assessment by the OECD member country Netherlands, after passing the GLP review earlier on March 31st.

On Feb. 15th, Sinochem Lantian’s 5000 tons per annum CFC-113a project was completed and put into stable operation.

On Feb. 17th, Sinochem Group reviewed the two-year Management Upgrading Activity and gave the instruction of 02 improving management continuously and establishing a long-term mechanism. In the summary reports meeting February for the Central State-owned Enterprises (CSOEs) held by the State-owned Assets Supervision and Administration On May. 26th to 28th, hosted by China National Seed Trade Association (CNSTA), the World Seed Congress was held Commission of the State Council (SASAC) shortly afterwards, Sinochem won several awards including ‘Pioneer in Beijing. China Seed participated during the whole course as a president member and topped the list for the first CSOE in the Management Upgrading Activity’. ‘Beijing Top 10 Seed Companies’. CNSGC Hybrid Wheat Seed (Beijing) Co., Ltd. signed the cooperation agreement On Feb. 27th, the Fortune unveiled the list of ‘World’s Most Admired Companies 2014’. Sinochem Group continued 05 for hybrid wheat industrialization with Guard Agricultural Research Services (Pvt.) Ltd. of Pakistan, stepping up to hold the No.1 post for ‘trading industry list’, retaining the best record for Chinese enterprises. May the internationalization process for China’s independent hybrid wheat breeds.

On May. 27th, Beijing Foreign Exchange Department of State Administration of Foreign Exchange approved additional foreign debt worth of USD 1.2 billion for Sinochem, amounting to a USD 1.934 billion total and making it the biggest pilot companies in terms of channel scale.

th On Mar. 11 , accredited by the State Administration for Industry and Commerce, ‘Jincool’, Sinochem Lantian’s On Jun. 6th, Sinochem won the ‘Golden Bee Enterprise Award’ at the Ninth CSR International Forum & 2013 China refrigerant brand, was identified as Chinese well-known trademarks. Likewise previously, the figurative Golden Bee CSR Award Ceremony. On Dec. 3rd, Sinochem won the ‘Evergreen Prize of Golden Bee 2011 Excellent mark of China Jinmao Group Co., Ltd., one of Sinochem’s major real estate business arms, obtained the same identification. CSR Reports’.

03 th th 06 On Jun. 18 , Sinochem Lantian’s 3000 tons per annum Nocolok Brazing Flux project in Zhejiang Lansol Fluorchem March On Mar. 17 , the Ministry of Agriculture released the lists of 2014 leading agricultural breeds and technologies, June as well as 2014 super rice breeds for demonstration and promotion. Some 11 breeds of rice, wheat and corn Co., Ltd. was completed. operated by China Seed and its member companies were among the former list, while other 2 breeds of rice were recorded in the latter.

52 2014 ANNUAL REPORT 53 2014 KEY EVENTS

On Jul. 2nd, Jinmao Investment &Jinmao (China) Investments Holdings Ltd., in which Franshion Properties is a On Oct. 15th, Sinochem Lantian-Honeywell New Material’s HFC-245fa project was put into operation. controlling shareholder, was officially listed and traded on the Main Board of the Hong Kong Stock Exchange. On Oct. 29th, Centre for China and Globalization, along with Social Sciences Academic Press, released the list of th On Jul. 7 , Fortune released its latest ranking of the global top 500 enterprises in 2014. Sinochem was listed in this China Top 50 Enterprises of Globalization in Beijing, where Sinochem ranked No.4. 07 well-respected and influential list for the 24th time, ranking No.107 this year. 10 July October On Jul. 9th, with all its 19 units successfully passing the trial run, Sinochem Quanzhou 12 million MT/a refining project was officially completed and commissioned. Being a full victory, the project was in accordance with ‘domestically leading and world advanced’ standards in terms of scale, technology and environmental protection etc. A watershed breakthrough was made in Sinochem’s oil refining business. On Nov. 8th to 10th, 2014 APEC CEO Summit was held in Beijing. Sinochem President Cai Xiyou was invited as On Jul. 21st, witnessed by Chinese President Xi Jinping and Venezuelan President Nicolás Maduro Moros, Sinochem a representative, who discussed and exchanged ideas with other attendees on the integration, innovation, Agrochem and Venezuelan Ministry of Agriculture signed a new five-year strategic cooperation agreement before development and interconnection for the Asia-Pacific Region. the closing ceremony of the 13th Meeting of Sino-Venezuelan Senior Hybrid Committee. 11 On Nov. 11th to 15th, the twelfth Michelin Challenge Bibendum, for which Sinochem International was the chief th November On Jul. 22 , SASAC released the results of business performance assessment on CSOEs leaders in 2013, which sponsor, was held in China’s Chengdu Province. began in 2004. Sinochem was one of the 11 CSOEs to achieve Grade A for ten years in a row. On Nov. 21st, the signing ceremony and colloquium of the development and construction project in Quan-Hui Petrochemical Industrial Park were held in Quanzhou of China’s Fujian Province. Sinochem Quanzhou and the People’s Government of Hui’an County signed the contract for Sinochem Quanzhou’s 1 million MT/a ethylene and refinery expansion projects.

On Nov. 21st, in China Petrochemical Association’s 2014 Sci-tech Award Ceremony, several companies under Sinochem Group were among the commending list with their achievements in scientific research. Some were also On Aug. 20th, based on the decision of CPC Central Committee and the State Council, and to meet the requirement included in the new patch of model enterprises of technology innovation in China’s oil &chemical industry. of improving corporate governance of state-owned enterprises, Sinochem Group established Board of Directors. 08 Mr. Liu Deshu was appointed Chairman of the Board and Secretary of the Party Committee, while Mr. Cai Xiyou August was appointed Director and President of Sinochem Group and member of the Party Committee. On Dec. 2nd, Chongqing Shale Gas Exploration and Development Co., Ltd., jointly invested by Sinochem Petroleum Exploration and Production Co., Ltd., China National Petroleum Corporation, State Development and Investment (Chongqing) Shale Gas Development and Production Co., Ltd. and Chongqing Institute of Geology and Mineral 12 Resources, was incorporated in Chongqing. This event marks a breakthrough in the company's endeavor to December acquire a foothold in domestic upstream exploration sector.

On Dec. 9th, Far East Horizon signed a strategic cooperation agreement worth 10 billion yuan with Bank of China.

On Dec. 12th, Sinochem International (SH, 600500) announced that it was to acquire full equity in Sinochem Agro, Shenyang Sciencreat, Sinochem Agro Hong Kong, Sinochem Agro Brazil, Sinochem Agro Argentina, with 970 th On Sep. 4 , Sinochem’s fourth Sci-tech Working Conference convened in Beijing, made clear the major tasks for th million yuan. On December 29 , the decision was voted passed at the shareholders' meeting. the next two years, and mobilized staffs for the upcoming sci-tech comprehensive reform. Afterwards, Sinochem introduced a series of reform measures including ‘Product Manager Basis’, ‘Gate Control Principle’ and ‘Sci-tech By December, the total value of FOTIC’s securities investment business had exceeded 150 billion yuan. Its 09 Commendation’ etc. industry-leading position was further consolidated. September On Sep. 11th, Sinochem Group switched Sinochem Liaoning from a secondary subordinate body under the As of December, a sales promoting campaign titled “the power of Sinochem Quanzhou’s Products” was organized Domestic Operation Centre to a tertiary under Sinochem Quanzhou. Similarly, Sinochem Group turned Sinochem and launched by Sinochem Oil center at its subsidiaries in Guangdong, Fujian, Anhui, Jiangxi and Hunan, together Guangdong to a tertiary under Sinochem Plastics previously. with TSO.

th On Sep. 28th, being the ninth hotel under Sinochem Jinmao, Grand Hyatt Lijiang was opened for business, On Dec. 24 , Franshion Properties acquired F-13 block along Meixi Lake in Yuelu District. A total of 6.03 million signifying Franshion Properties realize the strategic plan of developing tourist real estate business. square meters of new land was added to its reserves.

54 2014 ANNUAL REPORT 55 FINANCIAL AUDITOR’S REPORT

STATEMENTS Baker Tilly China [2015]No.9121-7 To Sinochem Group:

We have audited the accompanying financial statements of Sinochem Group (hereinafter referred to as “the Company”), which comprise the consolidated balance sheet as at 31 December 2014, and consolidated income statement and consolidated cash flow statement for the year then ended, and the notes to these financial statements. 1. The Management’s Responsibility for the Financial Statement

Management of the Company is responsible for the preparation and fair presentation of these financial statements. This responsibility includes: (1) preparing the financial statements in accordance with Accounting Standards for Business Enterprises to achieve fair presentation of the financial statements; (2) designing, implementing and maintaining internal control which is necessary to enable that the financial statements are free from material misstatement, whether due to fraud or error. 2. Auditor’s Responsibility

Our responsibility is to express an audit opinion on the financial statements based on our audit.W e conducted our audit in accordance with China Standards on Auditing. China Standards on Auditing require that we comply with the Code of Ethics for Chinese Certified Public Accountants and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatements.

The audit involves performing audit procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers the internal control relevant to the preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. An audit also includes evaluating the appropriateness of accounting policies adopted and the reasonableness of the accounting estimates made by the management, as well as evaluating the overall presentation of the financial statement.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. 3. Opinion

In our opinion, the financial statements of the Company present fairly, in all material respects, the Company’s consolidated financial position as at 31 December 2014, as well as the consolidated results of operations and cash flows for the year then ended in accordance with the Accounting Standards for Business Enterprises.

Chinese Certified Public Baker Tilly China Accountant:

Beijing, China

April 20, 2015 Chinese Certified Public Accountant:

56 2014 ANNUAL REPORT 57 Consolidated Balance Sheet

Items 2014.12.31 2013.12.31 Items 2014.12.31 2013.12.31

RMB'0000 USD'000 RMB'0000 USD'000 RMB'0000 USD'000 RMB'0000 USD'000 Current assets Current lialilites Cash at bank and on hand 2,509,574.55 4,101,282.15 2,209,448.24 3,623,887.94 Short-term borrowings 2,261,719.88 3,696,224.68 1,901,602.08 3,118,965.51 Deposit reservation for balance 64.43 105.29 679.42 1,114.37 Deposits and placements from other financial 70,659.05 115,474.83 84,200.18 138,103.27 institutions Financial assets at fair value through profit and loss 105,898.42 173,064.91 129,325.53 212,116.86 Placement from banks and other financial institutions 250,000.00 408,563.49 110,000.00 180,419.56 Notes receivable 380,974.66 622,609.35 310,926.35 509,974.50 Financial liabilities at fair value through profit and 8,888.78 14,526.52 - - loss Accounts receivable 3,689,111.13 6,028,944.48 3,688,825.33 6,050,329.40 Notes payable 357,455.96 584,173.82 237,251.35 389,134.40 Advances to suppliers 304,147.60 497,054.42 356,096.71 584,061.92 Accounts payable 5,194,917.47 8,489,814.46 4,071,272.01 6,677,609.95 Interest receivable 20,059.89 32,782.95 2,256.42 3,700.93 Advances from customers 1,335,000.56 2,181,729.96 1,821,679.65 2,987,878.51 Dividends receivable 9.00 14.71 59.67 97.87 Interest payable 114,320.66 186,828.99 110,142.64 180,653.51 Other receivables 751,514.33 1,228,165.27 508,459.19 833,963.47 Dividend payable 10,768.95 17,599.20 35,189.05 57,716.30 Inventories 7,466,641.41 12,202,388.32 6,337,395.57 10,394,455.49 Other payables 856,098.86 1,399,082.95 713,424.97 1,170,143.79 Non-current assets due within one year 4,964.76 8,113.68 6,336.57 10,393.10 Current portion of non-current liabilities 711,578.13 1,162,899.38 994,764.29 1,631,590.30 Other current assets 609,748.63 996,484.12 384,059.65 629,926.11 Other current liabilities 955,318.53 1,561,233.09 417,221.76 684,317.87 Total current assets 15,842,708.80 25,891,009.64 13,933,868.65 22,854,021.97 Total current liabilities 12,126,726.83 19,818,151.38 10,496,747.97 17,216,532.94 Non-current assets Non-current liabilities Loans and advances 18,035.89 29,475.22 46,810.68 76,777.84 Long-term borrowings 4,730,302.07 7,730,514.90 3,958,484.00 6,492,617.56 Available-for-sale financial assets 1,457,447.76 2,381,839.78 1,316,126.02 2,158,680.67 Debentures payable 5,076,907.97 8,296,956.97 4,602,742.46 7,549,315.98 Held-to-maturity investments 52,098.71 85,142.52 22,022.23 36,120.37 Long-term payables 4,434.55 7,247.18 629,295.62 1,032,156.70 Long-term account receivable 18,781.00 30,692.92 13,594.88 22,298.02 Special payable 12,568.80 20,540.61 23,280.23 38,183.72 Long-term equity investments 3,605,181.77 5,891,782.60 3,659,063.57 6,001,514.82 Provisions 303,064.12 495,283.74 274,531.03 450,279.70 Investment real eastate 479,546.77 783,701.21 464,731.14 762,241.70 Deferred tax liabilities 474,380.88 775,258.83 410,849.99 673,867.03 Fixed assets-net value 5,997,365.30 9,801,218.01 2,735,128.27 4,486,096.66 Other non-current liabilities 37,234.16 60,850.07 29,460.50 48,320.46 Construction in process 747,279.80 1,221,244.97 2,808,161.41 4,605,883.99 Total non-current liabilities 10,638,892.55 17,386,652.31 9,928,643.82 16,284,741.13 Construction materials 89,669.43 146,542.62 82,888.59 135,952.02 Total liabilities 22,765,619.38 37,204,803.69 20,425,391.79 33,501,274.07 Disposal of fixed assets 0.05 0.08 21.20 34.77 Shareholders’ equity Bearer biological assets 64,740.76 105,802.84 58,603.95 96,120.90 Paid-in capital 4,210,683.17 6,862,241.38 1,430,683.17 2,310,833.39 Oil and gas assets 5,009,835.25 8,187,343.11 4,819,344.45 7,904,581.75 Capital reserve 154,780.19 214,603.29 1,763,636.10 2,848,617.55 Intangible assets 1,151,537.11 1,881,904.09 1,125,517.95 1,846,049.55 Other comprehensive income -41,302.77 147,928.16 -139,095.31 59,258.68 Development expenditures 991.14 1,619.77 292.28 479.39 Specialized reserve 9,057.29 14,649.48 8,140.38 13,148.32 Goodwill 447,216.49 730,865.32 356,361.87 584,496.83 Surplus reserve 154,709.92 250,290.82 136,346.57 220,226.40 Long-term prepaid expenses 103,197.09 168,650.25 87,659.68 143,777.46 Retained earnings 2,952,571.76 4,755,011.04 3,587,548.58 5,794,593.26 Deferred tax assets 162,537.98 265,628.34 202,454.26 332,060.98 Equity attributable to equity holders of Other non-current assets 287,219.97 469,390.37 50,143.31 82,243.94 7,440,499.55 12,244,724.17 6,787,259.49 11,246,677.59 the Company Total non-current assets 19,692,682.28 32,182,844.06 17,848,925.74 29,275,411.66 Minority interests 5,329,272.15 8,624,325.83 4,570,143.11 7,381,481.96 Total assets 35,535,391.08 58,073,853.70 31,782,794.39 52,129,433.63 Total shareholders' equity 12,769,771.70 20,869,050.01 11,357,402.60 18,628,159.56 Total liabilities and shareholders' equity 35,535,391.08 58,073,853.70 31,782,794.39 52,129,433.63

58 2014 ANNUAL REPORT 59 Consolidated Income Statement Consolidated Cash Flow Statement

Items 2014.12.31 2013.12.31 Items 2014.12.31 2013.12.31 RMB'0000 USD'000 RMB'0000 USD'000 RMB'0000 USD'000 RMB'0000 USD'000 1. Total operating income 49,682,919.25 81,340,732.24 46,690,479.68 75,414,264.89 1.Cash flows from operating activities Including: operating income 49,525,901.83 81,083,663.77 46,548,989.51 75,185,730.57 Cash received from sales of goods or rendering of services 53,069,611.63 86,885,415.24 47,506,483.95 76,732,271.53 Net increase in deposits and due from banks -13,541.12 -22,169.48 62,349.14 100,706.07 Interest income 15,830.97 25,918.42 18,529.99 29,929.56 Net increase in inter-bank borrowing 140,000.00 229,207.60 -40,000.00 -64,607.83 Fee and commission income 141,186.44 231,150.03 122,960.18 198,604.76 Receipt from interest, fee and commission 142,719.62 233,660.15 131,612.42 212,579.82 2. Total operating cost 48,962,856.09 80,161,846.91 46,164,428.72 74,564,589.61 Other cash received relating to operating activities 794,032.27 1,299,987.34 802,270.44 1,295,823.81 Including: Operating cost 46,422,654.36 76,003,035.95 44,097,022.01 71,225,323.06 Sub-total of cash inflows 54,132,822.39 88,626,100.83 48,462,715.94 78,276,773.39 Interest expenses 2,547.68 4,171.05 2,235.06 3,610.06 Cash paid for goods purchased and services received 50,158,229.94 82,118,909.53 45,756,242.65 73,905,289.20 Fees and commissions income 644.36 1,054.94 505.76 816.90 Net increase in loans and advances -30,768.54 -50,374.17 -66,397.63 -107,245.17 Net increase in due from central bank and others 9,394.46 15,380.58 -17,478.67 -28,231.47 Tax and levies on operations 505,020.73 826,818.48 273,951.12 442,484.69 Payments for interest, fee and commissions 3,878.29 6,349.53 3,063.36 4,947.93 Selling expenses 507,787.52 831,348.26 431,476.22 696,918.56 Payments of taxes and levies 1,303,273.84 2,133,716.18 779,506.07 1,259,054.90 General and administrative expenses 655,103.52 1,072,533.60 589,268.12 951,783.37 Other cash paid relating to operating activities 1,591,747.16 2,606,003.86 1,373,558.29 2,218,565.53 Including: Research and development expense 148,963.01 243,881.81 87,786.98 141,793.16 Sub-total of cash outflows 53,035,755.16 86,829,985.53 47,828,494.07 77,252,380.91 Finance expenses 369,479.48 604,910.74 403,635.84 651,950.90 Net cash flows from operating activities 1,097,067.23 1,796,115.31 634,221.87 1,024,392.48 Including: Interest expense 415,014.19 679,460.04 451,439.90 729,163.81 2.Cash flows from investing activities Interest income 75,920.37 124,296.61 77,153.13 124,617.41 Cash received from disposal of investments 2,425,468.05 3,970,969.30 1,350,256.49 2,180,928.56 Exchange net loss 7,725.17 12,647.63 -3,407.71 -5,504.12 Cash received from returns on investments 320,719.64 525,081.27 239,781.81 387,294.56 Net cash received from disposal of fixed assets,oil and gas properties, Asset impairment losses 158,959.14 260,247.45 63,092.81 101,907.24 149,069.07 244,055.45 37,014.36 59,785.44 intangible assets and other long-term assets Other 340,659.30 557,726.42 303,241.78 489,794.84 Net cash received from selling subsidiary company 3,992.69 6,536.82 5,034.81 8,132.20 Add: Gains from changes in fair values 99,863.09 163,495.56 -34,994.05 -56,522.24 Other cash received relating to investing activities 210,008.05 343,824.57 40,037.01 64,667.61 Investment income 239,000.43 391,290.82 456,443.66 737,245.87 Sub-total of cash inflows 3,109,257.50 5,090,467.42 1,672,124.48 2,700,808.37 Including:Income from investments in associates and joint Cash paid to acquire fixed assets, oil and gas properties, intangible 126,660.98 207,368.99 153,357.31 247,702.08 2,191,397.97 3,587,750.44 2,531,966.77 4,089,622.00 ventures assets and other long-term assets Exchange gains 7,004.47 11,467.70 744.38 1,202.32 Cash paid to acquire investments 2,320,267.60 3,798,735.43 1,410,001.14 2,277,427.87 Net cash paid to purchase subsidiary company 47,546.96 77,843.75 15,681.50 25,328.69 3. Operating profit 1,065,931.15 1,745,139.41 948,244.96 1,531,601.24 Other cash paid relating to investing activities 560,667.64 917,923.44 127,755.60 206,350.30 Add: non-operating income 110,636.15 181,133.19 167,354.28 270,309.92 Sub-total of cash outflows 5,119,880.18 8,382,253.08 4,085,405.01 6,598,728.86 Including: net income on disposal of non-current assets 26,430.18 43,271.41 96,219.49 155,413.31 Net cash flows from investing activities -2,010,622.67 -3,291,785.64 -2,413,280.53 -3,897,920.48 Non-monetary assets exchage gains - - - - 3.Cash flows from financing activities Debt restructuring income 2,218.40 3,631.96 - - Cash received from capital contributions 425,724.70 696,995.25 1,197,897.68 1,934,839.26 Less: non-operating expenses 42,062.11 68,863.97 17,359.41 28,038.85 Cash received from borrowings 424,624.70 695,194.34 1,081,536.01 1,746,892.38 Including: net loss on disposal of non-current assets 12,628.88 20,675.97 3,065.10 4,950.74 Cash received from bond issuance 23,903,156.59 39,134,179.09 18,531,876.74 29,932,608.77 Non-monetary assets exchage loss - - - - Cash received relating to other financing activities 105,423.02 172,598.26 19,150.71 30,932.15 Debt restructuring loss 66.00 108.06 - - Sub-total of cash inflows 24,434,304.31 40,003,772.61 19,748,925.12 31,898,380.15 4. Total profit 1,134,505.19 1,857,408.63 1,098,239.83 1,773,872.32 Cash repayments of borrowings 22,332,836.80 36,563,256.06 17,524,330.29 28,305,224.01 Cash payments for interest expenses and distribution of dividends or 837,593.26 1,371,305.27 767,272.34 1,239,295.03 Less: income tax 437,761.05 716,701.13 403,026.39 650,966.52 profits include:cash panments for minority interests by subsidiary conpany 5. Net profit 696,744.14 1,140,707.50 695,213.44 1,122,905.80 144,459.21 236,508.20 164,115.59 265,078.81 Cash payments relating to other financing activities 206,571.79 338,198.74 57,838.94 93,421.21 Net profit attributed to equity holders of the Company 346,684.36 567,590.64 464,255.05 749,862.79 Sub-total of cash outflows 23,377,001.85 38,272,760.07 18,349,441.58 29,637,940.27 Minority shareholders' profit and loss 350,059.78 573,116.86 230,958.39 373,043.01 Net cash flows from financing activities 1,057,302.46 1,731,012.54 1,399,483.54 2,260,439.88 6. Other comprehensive income after tax 85,398.40 139,814.01 -185,293.04 -299,284.53 4.Effect of foreign exchange rate changes on cash and 4,294.66 52,478.72 -18,765.82 29,398.50 7. Total comprehensive income 782,142.54 1,280,521.51 509,920.40 823,621.27 cash equivalents Total comprehensive income attributed 5.Net increase / (decrease) in cash and cash 148,041.67 287,820.93 -398,340.94 -583,689.63 to equity holders of the Company 444,476.90 727,696.30 283,983.98 458,689.72 equivalents Total comprehensive income attributed to Add: cash and cash equivalents at beginning of the year 2,065,669.52 3,336,460.65 2,464,010.46 3,920,150.28 minority shareholders 337,665.64 552,825.21 225,936.42 364,931.55 6.Cash and cash equivalents at end of the year 2,213,711.19 3,624,281.58 2,065,669.52 3,336,460.65

60 2014 ANNUAL REPORT 61 NOTES TO THE FINANCIAL STATEMENTS

Basis of Preparation 2. Accounting year 9. Fixed assets and depreciation Notes to Material Items

The consolidated financial statements of Sinochem Group (the The accounting year of the Company is from 1 January to 31 Fixed assets are recorded at historical cost when acquired. 1. Taxes “Company”) include the financial statements of the Company December of each calendar year. Depreciation is calculated using the straight-line method over the Taxes were calculated at the rates applicable under the respective and its subsidiaries which comprise 9 wholly-owned and 4 non- respective estimated useful lives and estimated residual values of jurisdictions. wholly owned subsidiary companies. All significant inter-company 3. Reporting currency fixed assets. transactions and balances have been eliminated on consolidation. The reporting currency of domestic companies is the Renminbi 10. Long-term investments 2. Related party transactions (“Rmb”), and that of overseas companies is their foreign currency. Statement of Compliance with the Accounting The equity method is applied for long-term equity investments Related party transactions were carried out on terms approxim- Standards for Business Enterprises 4. Basis of accounting when an investor can control, jointly control or has significant ating normal market conditions. influence over the invested enterprise. Otherwise, the investments The Company’s consolidated financial statements for the year Accounts have been prepared on an accrual basis. Assets are are stated at cost. ended December 31, 2014 truly and completely present the recorded at historical cost. consolidated financial position as of December 31, 2014 and 11. Revenue recognition the consolidated financial performance and consolidated cash 5. Currency translation flows for the year then ended in compliance with the Accounting Revenue from the sale of goods is recognized when: Standards for Business Enterprises. Foreign currency (currency other than the reporting currency) transactions are translated into the reporting currency at the (1) the significant risks and rewards in relation to ownership of the Significant Accounting Policies exchange rates prevailing on the transaction date. Monetary assets goods have been transferred to the buyer; and liabilities and accounts of overseas subsidiaries denominated (2) the Company retains neither continuing management nor 1. Accounting system in foreign currencies at the balance sheet date are translated into effective control over the goods sold; the reporting currency using the exchange rates at that date. The Company adopts the Accounting Standards for Business (3) it is probable that the economic benefits associated with the Enterprises and other relevant regulations issued by the 6. Cash equivalents transaction will flow to the Company; and Ministry of Finance of the People’s Republic of China (“PRC”). Cash equivalents represent short-term, highly liquid investments Financial statements of overseas subsidiaries prepared on basis (4) the relevant amounts of revenue and costs can be measured which are readily convertible into known amounts of cash, and of the relevant local accounting standards have been adjusted reliably. accordingly. which are subject to an insignificant risk of changes in value.

7. Accounts receivable

Provisions were made to accounts of the Company and its subsidiaries for losses on bad and doubtful debts. Accounts receivable are stated at value net of provisions for bad and doubtful debts.

8. Inventories

Inventories, which mainly comprise of raw materials, work-in- progress and finished goods, are stated at cost when purchased, and valued at the lower of cost and net realizable value at the balance sheet date.

62 2014 ANNUAL REPORT 63 SINOCHEM ZHUHAI PETROCHEMICAL TERMINAL CO., LTD. SINOCHEM OIL LIAONING CO., LTD. DIRECTORY OF ADD: GAOLAN PORT ECONOMIC ZONE, ZHUHAI 519050, GUANGDONG, CHINA ADD: FLOOR 4, SHANGDU BLOCK, NO.478 ZHONGSHAN ROAD, TEL: 0086-756-7228001 SHAHEKOU DISTRICT, DALIAN 116021, LIAONING, CHINA DOMESTIC INSTITUTIONS FAX: 0086-756-7228111 TEL: 0086-411-84990705 FAX: 0086-411-84990466

SINOCHEM CORPORATION SINOCHEM REPRESENTATIVE OFFICE IN DALIAN WEST PACIFIC SINOCHEM TIANJIN PORT PETROCHEMICAL TERMINAL CO., LTD. PETROCHEMICAL CO., LTD. 11TH FLOOR , CENTRAL TOWER, CHEMSUNNY WORLD TRADE CENTER, 28 ADD: NO.99 SOUTH 1 ROAD, XIN GANG AREA, TANG GU DISTRICT, SINOCHEM OIL LIAONING (CHAOYANG) CO., LTD. FUXINGMENNEI STREET, BEIJING 100031, CHINA ADD: BUILDING 1, WEPEC, HAIQINGDAO, ECONOMIC&TECHNICAL TIANJIN 300452, CHINA ADD: ZHANGFUDIAN VILLAGE, FUSHANG STREET, JIANPING COUNTY, TEL: 0086-10-59568888 DEVELOPMENT ZONE, DALIAN 116600, TEL: 0086-22-25607018 25607026 CHAOYANG 122400, LIAONING, CHINA FAX: 0086-10-59568890 LIAONING, CHINA FAX: 0086-22-022-25607017 TEL: 0086-421-7417388 TEL: 0086-411-87514200 FAX: 0086-421-7417388 FAX: 0086-411-87514197

SINOCHEM (ZHOUSHAN) XINGHAI CONSTRUCTION CO., LTD. SINOCHEM PETROLEUM EXPLORATION AND PRODUCTION CO., LTD. ADD: AOSHAN ISLAND, LINCHENG DISTRICT, ZHOUSHAN 316021, TOTAL-SINOCHEM FUELS CO., LTD. ADD: 8TH FLOOR, CENTRAL TOWER, CHEMSUNNY WORLD TRADE CENTER, 28 SINOCHEM OIL (ZHUHAI) CO., LTD. ZHEJIANG, CHINA ADD: ROOM 1201-1203, 12/F, CHENGJIAN PLAZA, NO.18 FUXINGMENNEI STREET, BEIJING 100031, CHINA ADD: ROOM 304, 3/F, INTERNATIONAL SCIENCE AND TECHNOLOGY TEL: 0086-580-2061038 BEITAIPINGZHUANG ROAD, BEIJING 100088, CHINA TEL: 0086-10-59568800 BUILDING, NO.288 HONGSHAN ROAD, ZHUHAI GUANGDONG, CHINA FAX: 0086-580-2056984 TEL: 0086-10-82255525 FAX: 0086-10-59569564 POSTAL CODE: 519000 FAX: 0086-10-82255518 EMAIL: [email protected] TEL: 0086-756-2681582 FAX: 0086-756-2681552 ZHOUSHAN NATIONAL OIL RESERVE BASE CO., LTD. ADD: AOSHAN ISLAND, LINCHENG DISTRICT, ZHOUSHAN 316021, SINOCHEM OIL SHANXI CO., LTD. SINOCHEM QUANZHOU PETROCHEMICAL CO., LTD. ZHEJIANG, CHINA SINOCHEM XINGZHONG OIL STAGING (ZHOUSHAN) CO., LTD. ADD: F33, INTERNATIONAL ENERGY CENTER, NO.100 YINGZE WEST ADD: QUANHUI PETROCHEMICAL DISTRICT, QUANZHOU 362103, FUJIAN, TEL: 0086-580-2310162 ADD: NO.1 XINGZHONG ROAD, ZHOUSHAN 316000, ZHEJIANG, CHINA STREET, TAIYUAN 030024, SHANXI, CHINA CHINA FAX: 0086-580-2310100 TEL: 0086-580-2061899 TEL: 0086-351-6198500 TEL: 0086-595-27570009 FAX: 0086-580-2027654 FAX: 0086-351-6198975 FAX: 0086-595-27570567 ——BEIJING REPRESENTATIVE OFFICE ADD: ROOM 1702, SINOCHEM TOWER, A2 FUXINGMENWAI STREET, BEIJING BEIJING PETROLEUM CHEMICAL PRODUCTS DEVELOPMENT & SUPPLY CO., LTD. 100045, CHINA ZHOUSHAN ZHONGWEI OILSTORE CO., LTD. SINOCHEM OIL SHANDONG CO., LTD. TEL: 0086-10-59369500 ADD: ROOM 902, TIANCHUANG TECHNOLOGY PLAZA, NO.8 CAIHEFANG ADD: NO.1 XINGZHONG ROAD, ZHOUSHAN 316000, ZHEJIANG, CHINA ADD: ROOM 2006-2011, 20/F, HUAXIN INTERNATIONAL BUSINESS FAX: 0086-10-59368701 ROAD, HAIDIAN DISTRICT, BEIJING 100080, CHINA TEL: 0086-580-2061899 PLAZA, NO.28 CHANGJIANG ROAD, YANTAI ECONOMY TECHNOLOGY TEL: 0086-10-62698781 FAX: 0086-580-2027654 DEVELOPMENT ZONE, YANTAI 264006, SHANDONG , CHINA FAX: 0086-10-62698923 TEL: 0086-535-6109300 FAX: 0086-535-6109393 SINOCHEM OIL CO., LTD. ADD: 9TH/4TH FLOOR, CENTRAL TOWER, CHEMSUNNY WORLD TRADE SINOCHEM SINOPEC SHANGHAI ORIENT PETROCHEMICAL CENTER, 28 FUXINGMENNEI STREET, BEIJING 100031, CHINA TERMINAL CO., LTD. BEIJING JILI OIL PRODUCTS SERVICE CO., LTD. TEL: 0086-10-59569575, 59569585, 59569338 ADD: NO.918 LINGHAI ROAD, WAIGAOQIAO, PUDONG NEW AREA, SINOCHEM OIL HEILONGJIANG CO., LTD. FAX: 0086-10-59568180 ADD: OIL WAREHOUSE OFFICE BUILDING IN THE PUBLIC DRIVING SHANGHAI 200137, CHINA ADD: ROOM 205, NO.699 CHUANGXINYI ROAD, SONGBEI, HAERBIN HTTP: // www.sinochemoil.com SCHOOL YARD, LANGFA VILLAGE, HUANGCUN COUNTY, DAXING TEL: 0086-21-58649568 150028, HEILONGJIANG, CHINA DISTRICT, BEIJING 102613, CHINA FAX: 0086-21-58644051 TEL:0086-451-51901900 TEL: 0086-10-83702373 E-MAIL: [email protected] FAX:0086-451-51901988 HTTP: // zhdf.sinochemoil.com/main.php FAX: 0086-10-83702372 SINOCHEM INDUSTRIES CO., LTD. ADD: 9TH/4TH FLOOR, CENTRAL TOWER, CHEMSUNNY WORLD TRADE CENTER, 28 FUXINGMENNEI STREET, BEIJING 100031, CHINA SINOCHEM NANTONG TERMINAL CO., LTD. SINOPEC-SINOCHEM OIL PRODUCTS SALES CO., LTD. SINOCHEM OIL JILIN CO., LTD. TEL: 0086-10-59569575, 59569585, 59569338 ADD: FLOOR 5, NO.6451 ZIYOU ROAD, ERDAO DISTRICT, CHANGCHUN ADD: NO.1 TONGSHENG SOUTH ROAD, NANTONG 226017, JIANGSU, CHINA ADD: ROOM 1008, TIANCHUANGKEJI TOWER, NO.8 CAIHEFANG ROAD, FAX: 0086-10-59568180 130033, JILIN, CHINA TEL: 0086-513-85996906 68190190 HAIDIAN DISTRICT, BEIJING 100080, CHINA HTTP: // www.sinochemoil.com TEL:0086-431-81929100 81929115 FAX: 0086-513-85996900 TEL: 0086-10-62698718 FAX: 0086-10-62698991 FAX:0086-431-81929122

WEST PACIFIC PETROCHEMICAL COMPANY LTD.DALIAN SINOCHEM OIL SHANGHAI CO., LTD. ADD: HAIQING DAO ECONOMIC & TECHNICAL DEVELOPMENT ZONE,DALIAN SINOCHEM YANGZHOU PETROCHEMICAL TERMINAL CO., LTD. SINOCHEM INTERNATIONAL OIL (TIANJIN) CO., LTD. 116600, LIAONING, CHINA ADD: NO.1 ZHONGHUA ROAD, YANGZHOU CHEMICAL INDUSTRY PARK, ADD: HUANBOHAI DEVELOPMENT CENTER, NO.+9, BINSHUI ROAD, HEXI ADD: ROOM 2606B, ZENDAI WUDAOKOU PLAZA, NO.1199 MINSHENG TEL: 0086-411-87506666 YIZHENG 211900, JIANGSU, CHINA DISTRICT, TIANJIN 300061, CHINA ROAD, PUDONG NEW AREA, SHANGHAI 200135, CHINA FAX: 0086-411-87510033 TEL: 0086-514-89185050 TEL: 0086-22-28208680 TEL: 0086-21-50475118 HTTP: // www.wepec.com FAX: 0086-514-83299958 FAX: 0086-22-28208660 FAX: 0086-21-50477666

64 2014 ANNUAL REPORT 65 SINOCHEM OIL JIANGSU CO., LTD. SINOCHEM OIL HUNAN CO.,LTD. SINOCHEM (YANTAI) CROP NUTRITION CO., LTD. CHINA NATIONAL SEED GROUP CO., LTD. SHANDONG MARKETING ADD: 32F, NANJING SUNNY WORLD CENTER, NO.188 LUSHAN ADD: 2F, TIANXIN VENTURE BUILDING, NO.318 XINSHAO EAST 22 HARBOUR ROAD, ZHIFU DISTRICT, YANTAI264099,SHANDONG, CHINA AND SERVICE BRANCH ROAD,JIANYE DISTRICT, NANJING 210019, JIANGSU, CHINA ROAD,TIANXIN DISTRICT, CHANGSHA 410004, HUNAN, CHINA TEL: 0086-535-6633090 NO.11 SANGYUAN ROAD, LICHENG DISTRICT, JINAN 251200, SHANGDONG, TEL: 0086-25-86308300 TEL: 0086-731-88738117 FAX: 0086-535-6630882 CHINA FAX: 0086-25-83204797 FAX: 0086-731-88735888 HTTP: // www.sinochemyt.com TEL: 0086-531-83175371 FAX: 0086-531-88963462

HAINAN PACIFIC OIL CO., LTD. SINOCHEM JILIN CHANGSHAN CHEMICALS CO., LTD. SINOCHEM OIL ZHEJIANG CO., LTD. NO.47 7 LANE, SHANG PIN JIE, SANYA 572000, HAINAN, CHINA CHANGSHAN, QIANGUO COUNTY, SONGYUAN 131109, JILIN, CHINA GOLDEN RICE SEEDS CO., LTD. OF GUANGDONG ADD: F39, WINNING TOWER, NO.100 MINXIN ROAD, QIANJIANG CBD, TEL: 0086-898-88289510 TEL: 0086-438-5197017 JIANGGAN DISTRICT, HANGZHOU 310016, ZHEJIANG,CHINA FAX: 0086-898-88289521 FAX: 0086-438-5196248 GUANGDONG ACADEMY OF AGRICULTURAL SCIENCES IN RICE RESEARCH TEL: 0086-571-28135060 HTTP: // www.sinochemjlcs.com INSTITUTE, WUSHAN ROAD, TIANHE DISTRICT, GUANGZHOU 510640, FAX: 0086-571-28110080 GUANGDONG, CHINA SINOCHEM FERTILIZER COMPANY LIMITED TEL: 0086-20-85266580 SINOCHEM YUNLONG CO., LTD. FAX: 0086-20-87587739 10TH FLOOR, CENTRAL TOWER, CHEMSUNNY WORLD TRADE CENTER, 28 HTTP: // www.goldenrice.com.cn FUXINGMENNEI STREET, BEIJING 100031, CHINA JINSUO INDUSTRIAL PARK, KUNMING 655204, YUNNAN, CHINA SINOCHEM OIL JIANGXI CO., LTD. TEL: 0086-10-59569601, 59569604 TEL: 0086-871-62731168 ADD: 26F, UNIT C, DINGFENG BUSINESS CENTER, NO.1368 FAX: 0086-10-59569627 FAX: 0086-871-62731598 HONGGUZHONG ROAD, NANCHANG 330038, JIANGXI, CHINA HTTP: // www.sinofert.com HTTP: // www.sinochemzhyl.com CHINA NATIONAL SEED GROUP CO., LTD, FUJIAN NONGJIA SEED TEL: 0086-791-86719500 CORP., LTD. FAX: 0086-791-86669992 ROOM 908, 9TH FLOOR, TIMES INTERNATIOAL PLAZA, NO.89 FUXIN SINOCHEM CHONGQING FULING CHEMICALS CO., LTD. CHINA NATIONAL SEED GROUP CO., LTD. MIDDLE ROAD, FUZHOU 350011 , FUJIAN, CHINA 15/F, SINOCHEM TOWER, A2 FUXINGMENWAI STREET, BEIJING 100045, CHINA NO.2 LIMING ROAD, FULING DISTRICT, CHONGQING 408000,CHINA TEL: 0086-591-87321966 TEL: 0086-10-59369999 TEL: 0086-23-72884018 FAX: 0086-591-87327000 FAX: 0086-10-59369998 SINOCHEM OIL ANHUI CO., LTD. FAX: 0086-23-72884100 HTTP: // www.chinaseeds.com.cn ADD: ROOM 1412-1421, TOWER A, BLUE BUSINESS PORT, NO.188 SOUTH HTTP: // www.sinochem-zhfl.com QIANSHAN ROAD, HEFEI 230031, ANHUI, CHINA CHINA NATIONAL SEED GROUP CO., LTD, MIANYANG SEED TEL: 0086-551-63712555 CHINA SEED International Co., Ltd. FAX: 0086-551-63712558 SINOCHEM SHANDONG FERTILIZERS CO., LTD. COMPANY LTD. 7/F, TOWER F, PHOENIX PLACE 5A, SHUGUANG XILI, CHAOYANG DISTRICT, DONGZONG ROAD, ECONOMY DEVELOPMENT ZONE, LINYI 276008, NO.1 ROAD, SONGYA CITY, MIANYANG 621000, SICHUAN BEIJING 100028, CHINA SHANDONG, CHINA TEL: 0086-816-2240776 TEL: 0086-10-57350800 TEL: 0086-539-6016138 FAX: 0086-816-2222521 FAX: 0086-10-57350789 SINOCHEM OIL FUJIAN CO., LTD. FAX: 0086-539-6016555 HTTP: // www.cndkseeds.com ADD: 26/F, XIAMEN CONSTRUCTION BANK BUILDING, NO.98 LUJIANG HTTP: // www.sinochemsdfy.com ROAD, SIMING DISTRICT, XIAMEN 361001, FUJIAN , CHINA SICHUAN CHUANZHONG SEEDS CO., LTD. TEL: 0086-592-8129218 CHINA NATIONAL SEED GROUP CO., LTD., ZHANGYE BRANCH NO.6 HUANZHAN ROAD, YUTANG TOWN, LONGMATAN DISTRICT, FAX: 0086-592-8129155 HUBEI SINOCHEM ORIENT FERTILIZER CO., LTD. SECTION 2, NORTHEAST INDUSTRIAL PARK, ZHANGYE 734000, GANSU, CHINA LUZHOU 646100, SICHUAN, CHINA 9 RAILWAY STATION ROAD WULONGQUAN STREET, JIANGXIA DISTRICT, TEL: 0086-936-8428463 TEL: 0086-830-2666169 WUHAN 430213, HUBEI, CHINA FAX: 0086-936-8428451 FAX: 0086-830-2666158 TEL: 0086-27-58908512 HTTP: // www.czseed.com SINOCHEM OIL GUANGDONG CO., LTD. FAX: 0086-27-58908510 ADD: ROOM 1204-1212, NO.28 HUAXIA ROAD, ZHUJIANG HTTP: // www.sinochem-zhdf.com CHINA NATIONAL SEED GROUP CO., LTD, YUNNAN SEED CITY,GUANGZHOU 510623, GUANGDONG, CHINA COMPANY LTD. TEL: 0086-20-85601000 HUNAN DONGTING HI-TECH SEED CO., LTD. ECOLOGICAL INDUSTRIAL ZONE, SHILIN COUNTY, KUNMING, YUNNAN, FAX: 0086-20-85608600 FUJIAN SINOCHEM ZHISHENG FERTILIZER CO., LTD. HUABANQIAO ROAD NO.542 YUEYANG 414000, HUNAN, CHINA 652200 TEL: 0086-730-8803866 NO.188 BANWEI, YONGAN 366013, FUJIAN, CHINA TEL: 0086-871-7773269 FAX: 0086-730-8803866 TEL: 0086-598-3699383 FAX: 0086-871-7779197 FAX: 0086-598-3636543 TOTAL-SINOCHEM OIL CO., LTD. HTTP: // www.sinochem-zs.com ADD: UNIT 1201A/1204, F/12 THE ORIENTAL FINANCE PLAZA, NO.1168 CHINA NATIONAL SEED GROUP CO., LTD., HENAN BRANCH HUBEI WULIN SEED CORP., LTD. CENTURY AVENUE, SHANGHAI 200120, P.R. CHINA NO.1401,FLOOR 14,UNIT 1,BUILDING 9,NO.6,CUIZHU STREET,HIGH-NEW NO.126 ROAD, XUEYUAN, ENSHI 445000, HUBEI, CHINA TEL: 0086-21-68885788 YUNNAN THREE CIRCLES-SINOCHEM-MOSAIC FERTILIZERS CO., LTD. DISTRICT,ZHENGZHOU,HENAN,450001 TEL: 0086-718-8431092 FAX: 0086-21-68885755 HAIKOU TOWN, XISHAN DISTRICT, KUNMING 650113, YUNNAN,CHINA TEL: 0086-371-65607052 FAX: 0086-718-8431092 TEL: 0086-871- 8596688 FAX: 0086-371-65607052 FAX: 0086-871- 8583121

SINOCHEM (FUJIAN) FUELS DISTRIBUTION CO., LTD. CHINA NATIONAL SEED GROUP CO., LTD., CHENGDE BRANCH SICHUAN YIBIN YIZITOU SEED CO., LTD. ADD: ROOM 0408, 26/F, Construction Bank Building, NO.98 LUJIANG YUNNAN THREE CIRCLES-SINOCHEM FERTILIZERS CO., LTD. NO.501,BUILDING 9,KUIFUYUAN, SHUANGQIAO DISTRICT, 2F, COMPLEX OFFICE BULIDING, YIBIN INSTITUTE OF AGRICULTURAL ROAD, XIAMEN 361001, FUJIAN, CHINA HAIKOU COUNTY, XISHAN DISTRICT, KUNMING 650113, YUNNAN,CHINA SHENGDE,HEBEI,067000 SCIENCE, TIANCHIBA, XIJIAO,YIBIN 64460, SICHUAN,CHINA TEL: 0086-592-8129158 TEL: 0086-871-8596930 TEL: 0086-314-2525686 TEL: 0791-6255698 FAX: 0086-592-8129199 FAX: 0086-871-8596927 FAX: 0086-314-2525686 FAX: 0791-6255698

66 2014 ANNUAL REPORT 67 CHINA NATIONAL SEED GROUP CO., LTD., SANYA BRANCH Modern Seed Industry Development Fund CO., LTD. SINOCHEM INTERNATIONAL CORP. BEIJING BRANCH JIANGSU SINORGCHEM TECHNOLOGY CO., LTD. ROOM 16C BIHAILANTIANHAIYUEGE, NO. 90 SANYAWAN ROAD, SANYA 501-15, NO.1 BUILDING, COMPOUND 18, LIZI ROAD,FENGTAI DISTRICT ROOM 1801, SINOCHEM TOWER, A2 FUXINGMENWAI STREET, BEIJING 100045, 22 F, YONGDA INTERNATIONAL TOWER, NO. 2277 LONGYANG ROAD, 572000, HAINAN, CHINA 100073,BEIJING CHINA PUDONG NEW AREA,SHANGHAI, 201204, TEL: 0086-898-88298456 TEL: 8610-56765908 TEL: 0086-10-59368790 TEL: 021-50619988 FAX: 0086-898-88898678 FAX: 8610-56765900 FAX: 0086-10-59368569 FAX: 021-50117200

SINOCHEM INTERNATIONAL CORP. GUANGDONG BRANCH CHINA NATIONAL SEED GROUP CO., LTD., JIANGXI BRANCH JIANGSU SINORGCHEM TECHNOLOGY CO., LTD. BEIJING SHINING INVESTMENT MANAGEMENT COMPANY LTD. 12F, YINGXIN BUILDING, 28 HUAXIA ROAD, ZHUJIANGXINCHENG TIANHE 9F, COMPREHENSIVE BULIDING, JIANGXI ACADEMYOF SCIENCES, NO.382, 501-16, NO.1 BUILDING, COMPOUND 18, LIZI ROAD,FENGTAI DISTRICT DISTRICT, GUANGZHOU 510623, GUANGDONG, CHINA 39 WENFENG ROAD, YANGZHOU CITY, JIANGSU PROVINCE SHANGFANGROAD, NANCHANG 330046, JIANGXI,CHINA 100073,BEIJING TEL: 0086-20-85608200 TEL: 0514-87813243 TEL: 0086-791-6374996 TEL: 8610-56765908 FAX: 0086-20-85608210 FAX: 0514-87814008 FAX: 0086-791-6374996 FAX: 8610-56765900 SINOCHEM INTERNATIONAL CORP. TIANJIN BRANCH NANTONG JIANGSHAN AGROCHEMICAL & CHEMICALS CO., LTD. China National Seed Group Co., Ltd. Hubei branch RM. 1103, 105 JIANSHE RD., HEPING DISTRICT, TIANJIN 300042, CHINA CHINA NATIONAL SEED GROUP CO., LTD, JIUQUAN SEED NO.998 JIANGSHAN ROAD, NANTONG CITY ECONOMIC AND TEL: 0086-22-58909759 ROOM 102-106, REGION A, AOXIN COLLEGE, LUOSHINAN ROAD, TECHNOLOGICAL DEVELOPMENT ZONE COMPANY LTD. FAX: 0086-22-58909764 HONGSHAN DISTRICT, WUHAN 130072, CHINA TEL: 0513-83530931 NO.19 JIUYIN ROAD, SUZHOU DISTRICT, JIUQUAN 735000, GANSU CHINA TEL: 0086-27-87207338 FAX: 0513-83521807 TEL: 0086-937-2627983 FAX: 0086-27-87207398 SINOCHEM INTERNATIONAL CORP. FUJIAN BRANCH FAX: 0086-937-2627983 RM. 405, BUILDING D, EAST PART of LEAD SHOW HEAVEN AND EARTH SQUARE, QUANXIU ROAD, FENGZE DISTRICT, QUANZHOU 362000, FUJIAN, CHINA SINOCHEM LANTIAN CO., LTD. China Seed Hybrid Wheat Seed (Beijing) Co.,Ltd. TEL: 0595-22563031 NO.96 JIANGNAN AVENUE, BINGJIANG DISTRICT, HANGZHOU 310051, 1-301,NO.6 BUILDING,ZONE 5, ZHONGJIANJIANZHU, NO.5, XINGSHIKOU HUALE SEEDS COMPANY LTD. FAX: 0595-22503310 ZHEJIANG, CHINA ROAD,HAI DIAN DISTRICT, BEIJING 100093, CHINA 33003, NO.3, SHUANGQING ROAD,HAIDIAN DISTRICT, BEIJING TEL: 0086-571-85216718 TEL: 8610-88855051-801 100085,CHINA SHANGHAI DEHUAN PROPERTIES LIMITED FAX: 0086-571-85215306 FAX: 8610-88855051-803 TEL: 0086-10-62954713 E-MAIL: [email protected] FAX: 0086-10-62912663 3RDFLOOR, 567 GUOZHAN ROAD, PUDONG NEW AREA, SHANGHAI, HTTP: // www.sinochemlt.com HTTP: // www.hualeseeds.cn 200045 HENAN CHINASEED-LIANFENG SEED CO., LTD. TEL: 021-58388155 WEST OF RENMIN ROAD, WEISHI 475000, HENAN, CHINA ZHEJIANG RESEARCH INSTITUTE OF CHEMICAL INDUSTRY, LTD. TEL: 0086-378-7586702 SHENYANG RESEARCH INSTITUTE OF CHEMICAL INDUSTRY CO., LTD. NO.387 TIANMUSHAN RD., HANGZHOU 310023, ZHEJIANG, CHINA FAX: 0086-378-7586705 SINOCHEM INTERNATIONAL CROP CARE CO., LTD. NO.8 SHENLIAODONG ROAD, SHENYANG 110021, LIAONING, CHINA TEL: 0086-571-85226855 TEL: 0086-24-85869252 ROOM 2506, JIN MAO TOWER, NO.88 CENTURY BOULEVARD, PUDONG FAX: 0086-571-85229858 FAX: 0086-24-25873080 NEW AREA, SHANGHAI 200121, CHINA E-MAIL: [email protected] SHSANDONG LUYAN SEEDCOO, LTD. HTTP: // www.syrici.com.cn TEL: 0086-21-61048666 HTTP: // www.zciri.com NO.28 DONGJIAO SANGYUAN ROAD, NINAN, SHANDONG, 250100. FAX: 0086-21-50477405 TEL: 0531-83172570 FAX: 0531-83172570 SINOCHEM AGRO CO., LTD. SAFE-TRANSPORT CHEMICAL LOGISTICS CO., LTD. ZHEJIANG LANTIAN ENVIRONMENTAL PROTECTION HI-TECH HTTP: // www.luyans.com 17TH-19TH FLOORS, NO.33 HENAN ROAD(S), SHANGHAI 200002, CHINA ROOM 2603, JIN MAO TOWER, NO.88 CENTURY BOULEVARD, PUDONG CO., LTD. TEL: 0086-21-63289888/021-61381888 NEW AREA, SHANGHAI 200121, CHINA NO.96 5 AVENUE, HANGZHOU ECONOMIC & TECHNOLOGICAL FAX: 0086-21-63283968 TEL: 0086-21-61048703 China Seed Life Science and Technology Center DEVELOPMENT AREA 310012, ZHEJIANG, CHINA E-MAIL: [email protected] FAX: 0086-21-50470051 TEL: 0086-571-86917582 BUILDING C2-4,WUHAN NATIONAL BIOLOGY PROPERTY BASE HTTP: // www.sinochemagro.com FAX: 0086-571-86917606 (JIUFENG INNOVATION) R&D AREA,NO.666,GAOXIN AVENUE,DONGHU E-MAIL: [email protected] DEVELOPMENT ZONE,WUHAN,HUBEI,430075 SINOCHEM SHIPPING CO., LTD. (HAINAN) TEL: 0086-27-87618849 ROOM 2601, JIN MAO TOWER, NO.88 CENTURY BOULEVARD, PUDONG SHENGYANG SCIENCREAT CHEMICALS CO.,LTD. FAX: 0086-27-87610901 NEW AREA, SHANGHAI 200121, CHINA XIHE JIU BEI STREET 17.SHENYANG ECONOMY AND TECHNOLOGY TEL: 0086-21-61048666 ZHEJIANG HETIAN CHEMICAL CO., LTD. DEVELOPMENT ZONE, 110144 FAX: 0086-21-50470166 NO.926 XIXI RD., HANGZHOU 310023, ZHEJIANG, CHINA China Seed Science Innovation and Service (Hubei) CO., LTD. TEL: 024-25326706 TEL: 0086-571-87978273 FAX: 024-25326815 FAX: 0086-571-85221760 NO.666,GAOXIN AVENUE,DONGHU DEVELOPMENT ZONE,WUHAN 430040, XISHUANGBANNA SINOCHEM RUBBER CO., LTD. E-MAIL: [email protected] HUBEI,CHINA MENGHAN TOWN, JINGHONG, XISHUANGBANNA, YUNNAN, CHINA HTTP: // www.ht-chem.com TEL: 027-87618849 TEL: 0691-2420401 SINOCHEM INTERNATIONAL CORP. FAX: 027-87610901 FAX: 0691-2420412 STOCK CODE: 600500.SH 18/F, JIN MAO TOWER, NO.88 CENTURY BOULEVARD, PUDONG NEW AREA, ZHEJIANG TITAN DESIGN & ENGINEERING CO., LTD. NUNHEMS BEIJING SEEDS CO., LTD. SHANGHAI 200121, CHINA HAINAN SINOCHEM RUBBER CO., LTD. NO.2 WULIN LANE MOGANSHAN RD., HANGZHOU 310012, ZHEJIANG, CHINA NO.16 OF THE 4TH JINGHAI ROAD, BEIJING ECONOMICS & TECHNOLOGY TEL: 0086-21-61048666 3RD FLOOR, NANHUA TOWER, ZHONGXING BOULEVARD, NADA, TEL: 0086-571-88362930 DEVELOPMENT DISTRICT, BEIJING 100107, CHINA FAX: 0086-21-50490909 DANZHOU, HAINAN, CHINA FAX: 0086-571-88362900 TEL: 0086-10-62912968 E-MAIL: [email protected] TEL: 0898-23339201 E-MAIL: [email protected] FAX: 0086-10-62912663 HTTP: // www.sinochemintl.com FAX: 0898-23339200 HTTP: // www.zpcdi.com

68 2014 ANNUAL REPORT 69 ZHEJIANG INT’L GROUP CO., LTD. SINOCHEM PLASTICS CO., LTD. SHENZHEN BRANCH SINOCHEM TIANJIN CO., LTD. CHINA JIN MAO GROUP CO., LTD. NO.96 JIANGNAN AVENUE, BINJIANG DISTRICT, HANGZHOU 310051, RM.2502,GANLAN PLAZA, CAITAIN ROAD,FUTIAN NO.58 NANJING ROAD, HEXI DISTRICT, TIANJIN 300042, CHINA 8/F, JIN MAO TOWER, NO.88 SHIJI DADAO, PUDONG NEW AREA, ZHEJIANG, CHINA DISTRICT,SHENZHEN,CHINA. TEL: 0086-22-23146216, 23146392 SHANGHAI 200121, CHINA TEL: 0086-571-85068752 TEL: 0086-755-83551893 FAX: 0086-22-23146215 TEL: 0086-21-50476688 FAX: 0086-571-85068752 FAX: 0086-755-83551982 E-MAIL: [email protected] FAX: 0086-21-50470088 E-MAIL: [email protected] E-MAIL: [email protected] HTTP: // www.sinochemtianjin.com HTTP: // www.jinmao88.com HTTP: // www.intmedic.com HTTP: // www.sinochemplastics.com

BEIJING CHEMSUNNY PROPERTY CO., LTD. SINOCHEMTIANJIN BENHAI LOGISTIC CO., LTD. ZHEJIANG INT' L MEDICINE CO., LTD. 22/F, SINOCHEM TOWER, A2 FUXINGMENWAI STREET, BEIJING 100045, SINOCHEM PLASTICS CO., LTD. JIANGSU BRANCH 478 CHANGXI ROAD,GATE2, TIANJIN PORT,TIANJINBINHAI NEW NO.96 JIANGNAN AVENUE, BINJIANG DISTRICT, HANGZHOU CHINA 19F, JINCHENG TOWER, 216 LONGPAN MIDDLE ROAD, BAIXIA DISTRICT, AREA,TIANJIN 300456 310051, ZHEJIANG, CHINA TEL: 0086-10-59369900 NANJING 210002, NANJING, CHINA TEL:0086-22-66705709 TEL: 0086-571-85063052 FAX: 0086-10-59369901 TEL: 0086-25-51817777 FAX:0086-22-66705709 FAX: 0086-571-85057018 FAX: 0086-25-51817788 HTTP: //www.scbinhai.com E-MAIL: [email protected] E-MAIL: [email protected] E-MAIL: [email protected] JIN MAO (LIJIANG) PROPERTY CO., LTD. HTTP: // www.intmedic.com HTTP: // www.sinochemplastics.com NORTH OF XIANG JIANG ROAD, GUCHENG AREA, LIJIANG 674100, CHINA TEL: 0086-888-8886999 ZHEJIANG HUALONG INDUSTRIAL GROUP CO., LTD. TIANJIN PORT SINOCHEM DG LOGISTIC CO., LTD. FAX: 0086-888-8893377 NO.96 JIANGNAN AVENUE, BINJIANG DISTRICT, HANGZHOU SINOCHEM PLASTICS Co., LTD. GUANGZHOU BRANCH No.49 ,WEST OF YUEJIN ROAD ,CONTAINER LOGISTICS AREA TIANJIN 310051, ZHEJIANG, CHINA Rm.1303,FULIYINGXIN BUILDING,No.28 HUAXIA ROAD,TIANHE PORT,TIANJIN, 300641 SHANGHAI INTERNATIONAL SHIPPING SERVICE CENTER TEL: 0086-571-87011929 DISTRICT,GUANGZHOU, 510620,CHINA TEL:0086-22-2560 0333-830 DEVELOPMENT CO., LTD. FAX: 0086-571-87033623 TEL: 020-38799400 FAX:0086-2570-2246 NO.100 Yangshupu Road, Hongkou District 200082, Shanghai, CHINA E-MAIL: [email protected] FAX: 020-38267970 E-MAIL: [email protected] TEL: 0086-21-65853570 E-MAIL: [email protected] FAX: 0086-21-65853571 HTTP: // www.sinochemplastics.com SINOCHEM TAICANG CHEMICAL INDUSTRIAL PARK SINOCHEM HEBEI CO. NO.18 SOUTH BINJIANG RD., PETROCHEMICAL INDUSTRIAL SECTION, TAICANG PORT DEVELOPMENT ZONE, TAICANG 215433, JIANGSU, CHINA NO.707 LIANMENG ROAD, SHIJIAZHUANG 050061, HEBEI, CHINA SINOCHEM PLASTICS Co., LTD. CHENGDU BRANCH SINOCHEM FRANSHION REAL ESTATE (BEIJING) CO., LTD. TEL: 0086-512-53713100 TEL: 0086-311-85028888 FAX: 0086-512-53713199 RM.907,Unit 1,BUILDING 8,NO.1700,TIANFUDADAO,GAOXIN FAX: 0086-311-85028899 10F, BLOCK D, YEQING BUILDING, 9 WANGJING NORTHERN ROAD, CHAOYANG E-MAIL: [email protected] DISTRICT,CHENGDU, 610041,CHINA E-MAIL: [email protected] DISTRICT, BEIJING 100102, CHINA HTTP: // www.sinochemtc.com TEL: 028-85266758 HTTP: // www.sinochemhebei.com TEL: 0086-10-57681515 FAX: 028-85266756 FAX: 0086-10-57681500 E-MAIL: [email protected] HTTP: // www.sinochemplastics.com SINOCHEM MODERN ENVIRONMENTAL PROTECTION SINOCHEM QINGDAO CO., LTD. JIN MAO INVESTMENT (CHANGSHA) CO., LTD. CHEMICALS (XI’AN) CO., LTD. THE NORTH BUILDING, GOLDEN PLAZA, 20 XIANGGANGZHONG ROAD, 3F, WUQIANG BUILDING, NO.2 LUTIAN RD, CHANGSHA NATIONAL HI-TECH JINGHE INDUSTRIAL AREA, XI'AN ECONOMIC & TECHNICAL QINGDAO 266071, SHANDONG, CHINA SINOCHEM PLASTICS Co., LTD. QINGDAO BRANCHH PACK, CHANGSHA 410205, HUNAN, CHINA DEVELOPMENT ZONE, XI'AN 710201, SHAANXI, CHINA TEL: 0086-532-55736222, 55736990 TEL: 0086-731-89806600 TEL: 0086-29-86033368 RM.1507,BUILDING 15,NORTH BUILDING,GOLDEN PLAZA No.20 FAX: 0086-532-55736555 FAX: 0086-731-89806608 FAX: 0086-29-86030181 XIANGGANG ROAD,QINGDAO SHANDONG,CHINA E-MAIL: [email protected] E-MAIL: [email protected] TEL: 0532-85021598 HTTP: // www.sinochemqingdao.com HTTP: // www.jincool.com FAX: 0532-85021598 SINOCHEM JINMAO PROPERTY MANAGEMENT(BEIJING) CO., LTD. ROOM 215, Sinochem Tower, No.A2 Fuxingmenwai Ave, BEIJING SINOCHEM JIANGSU CO., LTD. 100045, CHINA SINOCHEM PLASTICS CO., LTD. SINOCHEM PLASTICS Co., LTD. TIANJIN BRANCH FLOORS 21-22, JINCHENG TOWER, NO.216 MIDDLE LONGPAN ROAD, TEL: 0086-10-59368160 7F, SINOCHEM TOWER, A2 FUXINGMENWAI STREET,XICHENG DISTRICT, 58 NANJNG ROAD,TIANJIN, 300042 NANJING 210002, JIANGSU, CHINA FAX: 0086-10-59368189 BEIJING 100045, CHINA TEL: 022-23146216, 23146392 TEL: 0086-25-51817890 TEL: 0086-10-59368520 Fax:022-23146215 FAX: 0086-25-51817799 FAX: 0086-10-59368578, 59368561 JIN MAO (SHANGHAI) DEVELOPMENT CO., LTD. E-MAIL: [email protected] E-MAIL: [email protected] E-MAIL: [email protected] HTTP: // www.sinochemplastics.com HTTP: // www.sinochemjiangsu.com 706A, JIN MAO TOWER, NO.88 SHIJI DADAO, PUDONG NEW AREA, SHANGHAI HTTP: // www.sinochemplastics.com 200121, CHINA TEL: 0086-21-50476688 FAX: 0086-21-50470650 SINOCHEM PLASTICS CO., LTD. SHANGHAI BRANCH SINOCHEM LIAONING CO. SINOCHEM GUANGDONG CO., LTD. 29F, LUJIAZUI BUSINESS PLAZA, NO.1600 CENTURY BOULEVARD, 32/F, RAINBOW BUILDING, NO.23 RENMIN ROAD, DALIAN 116001, 13/F, NO.28, HUA XIA ROAD, TIANHE DISTRICT, GUANGZHOU510623, PUDONG NEW AREA, SHANGHAI 200122, CHINA LIAONING, CHINA GUANGDONG, CHINA QINGDAO LANHAI NEW HARBOUR CITY PROPERTIES LTD. TEL: 0086-21-50812631 TEL: 0086-411-82821888, 82820643 TEL: 0086-20-38686368 30F, HUAYIN BUILDING, NO.5 DONGHAI WEST ROAD, QINGDAO 266071, FAX: 0086-21-50816335, 50815825 FAX: 0086-411-82820646 FAX: 0086-20-38686315 SHANDONG, CHINA E-MAIL: [email protected] E-MAIL: [email protected] E-MAIL: [email protected] TEL: 0086-532-66067979 HTTP: // www.sinochemplastics.com HTTP: // www.sinochemliaoning.com HTTP:// www.sinochem-guangdong.com TAX: 0086-532-82996970

70 2014 ANNUAL REPORT 71 FRANSHION PROPERTIES (SUZHOU) CO., LTD. BEIJING EASTERN GARDEN INTERNATIONAL CONVENTION CENTER FAR EAST HORIZON MINGRUI(SHANGHAI) SHIP LEASING CO., LTD. SINOCHEM FINANCE CO., LTD. 26F, Coastal International Center, 1296 Ganjiang Road West Jinchang District, NO.5 ZUODI RD., BEIXIAOYING TOWN, SHUNYI DISTRICT, BEIJING 101300, A420C 4TH FLOOR, YESHENG ROAD,YANGSHANG BONDED AREA, 3TH FLOOR, CENTRAL TOWER, CHEMSUNNY WORLD TRADE CENTER, 28 Suzhou 215004, Jiangsu, China CHINA SHANGHAI 200121,CHINA FUXINGMENNEI STREET, BEIJING 100031, CHINA Tel: 0086-512-65700186 TEL: 0086-10-60485588 TEL: 0086-21-50490099 TEL: 0086-10-59569332 Fax: 0086-512-65700160 FAX: 0086-10-60486712 FAX: 0086-21-50490099 FAX: 0086-10-59568943 HTTP: // www.bjegicc.com HTTP: // www.sinochemfinance.com

Tianjin Horizon Equipment Rental Co., Ltd. Chongqing Xingtuo Real Estate CO., LTD. INTERNATIONAL FAR EASTERN LEASING CO., LTD. 13-505, NO.18, FUYUAN ROAD,WUQING DISTRICT,TIANJIN 301700,CHINA 21F, Bldg5, Neo-China Top City, Jiulongpo District, Chongqing SINOCHEM INSURANCE BROKERS CO., LTD. 32TH, 33TH, 35TH, 36TH ,40TH FLOOR, JIN MAO TOWER, NO.88 CENTURY TEL: 0086-21-50490099 400039, China AVENUE, PUDONG NEW AREA, SHANGHAI 200121, CHINA FAX: 0086-21-50490099 301-302, 3TH FLOOR, CENTRAL TOWER, CHEMSUNNY WORLD TRADE Tel: 0086-23-65938882 TEL: 0086-21-50490099 CENTER, 28 FUXINGMENNEI STREET, BEIJING 100031, CHINA Fax: 0086-23-65938882 FAX: 0086-21-50490066 TEL: 0086-10-59568326 HTTP: // www.fehorizon.com FAX: 0086-10-59569757 SHENYANG DEMINGMedical Engineering Co., Ltd. NO.286,QINGNIAN ROAD,HEPING DISTRICT,SHENGYANG, LIAONING SHANGHAI JINMAO CONSTRUCTION&DECORATION CO., LTD. SHANGHAI DONGHONG CO., LTD. PROVINCE,110000,CHINA 506-510 Green Center East Building, No.596 Longhua Road, TEL: 0086-21-50490099 MANULIFE-SINOCHEM LIFE INSURANCE CO., LTD. 07B 36TH FLOOR, JIN MAO TOWER, NO.88 CENTURY AVENUE, PUDONG Xuhui District, Shanghai 200032, China FAX: 0086-21-50490099 NEW AREA, SHANGHAI 200121, CHINA 6/F, JIN MAO TOWER, NO.88 CENTURY BOULEVARD, PUDONG NEW AREA, Tel: 0086-21-64731010 TEL: 0086-21-50988880 SHANGHAI 200121, CHINA Fax: 0086-21-50473978 FAX: 0086-21-50988890 TEL: 0086-21-50492288 SHANGHAI DEYI CO., LTD. FAX: 0086-21-50490042 HTTP: // www.manulife-sinochem.com 1TH FLOOR, NO.2095 WAIQIAN ROAD, JIADING DISTRICT, FRANSHION PROPERTIES (NINGBO) CO., LTD. SHANGHAI DOMIN MEDICAL ENGINEERING CO., LTD. SHANGHAI,200121,CHINA TEL: 0086-21-50490099 ROOM 3202, CHINA MERCHANTS TOWER, NO.161 LU JIA ZUI DONG LU, 18F Venture Tower,16th Buzheng Lane,Hai Shu District Ningbo FAX: 0086-21-50490099 315000,China PUDONG NEW AREA, SHANGHAI 200120, CHINA SINOCHEM INTERNATIONAL TENDERING CO., LTD. Tel: 0086-574-55871111 TEL: 0086-21-20307999 21/F, SINOCHEM TOWER, A2 FUXINGMENWAI STREET, BEIJING 100045, CHINA Fax: 0086-574-55871111 FAX: 0086-21-20307888 SHANGHAI HONGJIN EQUIPMENT & ENGINEERING CO., LTD. TEL: 0086-10-59368001 FAX: 0086-10-59369738 Zone B, ZhuJing Industrial Park, NO.555 DONGRI ROAD, JINSHAN E-MAIL: [email protected] DISTRICT, SHANGHAI,200121,CHINA Horizon Healthcare Management(Shanghai) Co., Ltd. HTTP: // www.sinochemitc.com NANJING International Group CO., LTD. TEL: 0086-21-50490099 40TH FLOOR, JIN MAO TOWER, NO.88 CENTURY AVENUE, PUDONG NEW FAX: 0086-21-50470006 – 6666 22F South Tower,NIC 201Zhongyang Road,Nanjing AREA, SHANGHAI 200121, CHINA 210009,China TEL: 0086-21-50760690 Tel: 025-83271600 FAX: 0086-21-50761290 SINOCHEM ENEGY-SAVING AND ENVIONMENTAL Fax: 025-83271616 Far East Horizon (Tianjin) Financial Leasing Co., Ltd. PROTECTION HOLDING (BEIJING) CO., LTD. No.01, FLOOR 34,XINYIN BUILDING,YOUYI ROAD HEXIDISTRICT300457, 21/F, SINOCHEM TOWER, A2 FUXINGMENWAI STREET, BEIJING 100045, CHINA SHANGHAI HORIZON EQUIPMENT & ENGINEERING CO., LTD. TIANJIN, CHINA TEL: 0086-10-59368001 TEL: 0086-22-66372580 Sanya Yazhou Bay Economic Development co., ltd. FLOOR 3,BLOCK 2,YOUYOU CENTRY PLAZA, NO.428SOUTH YANGGAO FAX: 0086-10-59368201 ROAD, PUDONG NEW DISTRICT, SHANGHAI 200127, CHINA FAX: 0086-22-66372595 1F,Building 6,156-1 Sanya Bay Road,Sanya 572000, China TEL: 0086-21-59886508 Tel: 0898-88652550 FAX: 0086-21-58920351 Fax: 0898-88652550 MAINTENANCE CENTER: NO.12, XUMINGDONGLU, XUJING TOWN, CHINA FOREIGN ECONOMY AND TRADE TRUST CO., LTD. QINGPU AREA, SHANGHAI 201702, CHINA 6F, CENTRAL TOWER, CHEMSUNNY WORLD TRADE CENTER, 28 Fortune Wines CO., LTD. FUXINGMENNEI STREET, BEIJING 100031, CHINA GUANGZHOU XINGTUO PROPERTY CO., LTD. TEL: 0086-10-59568808 ROOM 615, SINOCHEM TOWER, A2 FUXINGMENWAI STREET, BEIJING SHANGHAI DOPONT INDUSTRIAL CO., LTD. FAX: 0086-10-59568906 100045, CHINA 12A F,Jinrong Building, No.171 Haibin Road, Nansha E-MAIL: [email protected] Tel:010-59369699 District,Guangzhou 511458. China 07A 36TH FLOOR, JIN MAO TOWER, NO.88 CENTURY AVENUE, PUDONG HTTP: // www.fotic.com.cn Fax:010-59369669 Tel: 020-39037100 NEW AREA, SHANGHAI 200121, CHINA E-mail:[email protected] Fax: 020-39037106 TEL: 0086-21-50988880 FAX: 0086-21-50988890 LION FUND MANAGEMENT CO., LTD. FLOORS 19-20, INDUSTRIAL BANK TOWER, NO.4013 SHENNAN ROAD, FRANSHION PROPERTIES (HANGZHOU) CO., LTD. FAR EAST HORIZON SHIPPING CONSULTING (SHANG HAI)CO., LTD. SHENZHEN 518048, GUANGDONG, CHINA SINOCHEM ASSET MANAGEMENT CO. 7F,YintaiD Building, 380Fengtan Road, Gongshu District, FLOOR 3,BLOCK 2,YOUYOU CENTRY PLAZA, NO.428SOUTH YANGGAO ROAD, TEL: 0086-755-83026688 RM.1701, SINOCHEM TOWER, A2 FUXINGMENWAI STREET, BEIJING Hangzhou 310000, Zhejiang, China PUDONG NEW DISTRICT, 200127, SHANGHAI CHINA FAX: 0086-755-83026677 100045, CHINA Tel: 0086-571-86419900 TEL: 0086-21-50490099 E-MAIL: [email protected] TEL: 0086-10-59369365 Fax: 0086-571-86419901 FAX: 0086-21-50490099 HTTP: // www.lionfund.com.cn FAX: 0086-10-59369888

72 2014 ANNUAL REPORT 73 EMERALD ENERGY PLC SUCURSAL COLOMBIA SINOCHEM INTERNATIONAL PETROLEUM (BAHAMAS)CO., LTD. DIRECTORY OF ADD: CARRERA 9A, NO.99-02.OF.603D EDIFICIO CITIBANK BOGOTA,D. ADD: P.O.BOX N-3029, EAST BAY STREET, NASSAU, BAHAMAS C.,COLOMBIA TEL: 0086-10-59568586 OVERSEAS INSTITUTIONS TEL: 00571-6513500 FAX: 0086-10-59569401 FAX: 00571-6182807 EMAIL: [email protected] SINOCHEM HONG KONG (GROUP) CO., LTD. SINOCHEM CORPORATION REPRESENTATIVE OFFICE (UAE)

ROOM 4611, 46/F OFFICE TOWER, CONVENTION PLAZA, 1 HARBOUR OFFICE 4E-B 551 DUBAI AIRPORT FREE ZONE, 293662 DUBAI,UNITED SINOCHEM OIL (THAILAND) CO., LTD. ROAD, WANCHAI, HONG KONG ARAB EMIRATES ADD: UNIT 6,16/F, CRC TOWER, ALL SEASONS PLACE, 87/2 WIRELESS TEL: 00852-28240100 TEL: 00971-4-2045245/6 ROAD, PHATUMWAN, BANGKOK 10330, THAILAND FAX: 00852-25879480 FAX: 00971-4-2045247 SINOCHEM PETROLEO BRASIL LTDA TEL: 0066-2-6540948 ADD: ROOM 1401, 14TH FLOOR, 228,PRAIA de Botafogo, FAX: 0066-2-6542830 Botafogo, Rio de Janeiro,RJ–Brazil,CEP 22250-040 TEL: 0055-21-3550-9250 EMAIL: [email protected]

SINOCHEM REPRESENTATIVE OFFICE IN TAIWAN SINOCHEM ASIA HOLDINGS (CO.) LTD. SINOCHEM OIL CO., LTD. REPRESENTATIVE OFFICE IN TAIWAN 29/F, NO.7, SEC.5, XINYI RD., XINYI DIST., TAIPEI CITY 110, TAIWAN (R.O.C.) 9 TEMASEK BOULEVARD #18-01/02/03, SUNTEC TOWER TWO,SINGAPORE ADD: ROOM C, 29TH FLOOR, NO.7 SEC 5 XINYI RD, XINYI DIST., TAIPEI CITY TEL: 00886-2-81016123 038989 11049, TAIWAN FAX: 00886-2-81016055 SINOCHEM PETROLEUM USA LP TEL: 0065-63370110 TEL: 00886-2-81016069 E-MAIL: [email protected] FAX: 0065-63395615 ADD: 2000 WEST LOOP SOUTH, SUITE 2010, HOUSTON, TEXAS 77027 FAX: 00886-2-81016055 TEL: 001 832 742 8600 FAX: 001 832831 1912 EMAIL: [email protected]

SINOCHEM OIL CO., LTD. JAPAN REPRESENTATIVE OFFICE ADD: IMC BLDG. SHINBASHI 6F, 5-5-1 SHINBASHI, MINATO - KU, TOKYO SINOCHEM EUROPE HOLDINGS PLC. SINOCHEM REPRESENTATIVE OFFICE IN CUBA 105-0004, JAPAN 17/F, NEW ZEALAND HOUSE, 80 HAYMARKET LONDON SW1Y 4TE UNITED ADD: NO.7806 5TA AVENIDA, EDIF. El RAFFAELLO APTO.113, MIRAMAR, SINOCHEM INTERNATIONAL OIL (LONDON)CO., LTD. TEL: 0081-3-34347876 KINGDOM PLAYA, LA HABANA, REPUBLICA DE CUBA FAX: 0081-3-34348747 ADD: 11/F WESTMINSTER TOWER 3 ALBERT EMBANKMENT LONDON SE1 7SP TEL: 0044-20-79307060 HABANA, REPUBLICA DE CUBA UNITED KINGDOM FAX: 0044-20-79306611 TEL:0053-7-2049430 TEL: 0044-20-77357878 E-MAIL: [email protected] EMAIL: [email protected] FAX: 0044-20-77357121 EMAIL: [email protected] SINOFERT HOLDINGS LIMITED STOCK CODE: 00297.HK SUITES 4601-10, 46/F, OFFICE TOWER, CONVENTION PLAZA,1 HARBOUR ROAD, WANCHAI, HONG KONG ATLANTIS HOLDING NORWAY AS TEL: 00852-36561588 SINOCHEM AMERICAN HOLDINGS, INC. SINOCHEM INTERNATIONAL OIL (SINGAPORE) PTE. LTD. FAX: 00852-28507229 ADD: API WORLD TOWER, SUITE 3002 SHEIKH, 10TH FLOOR, CENTRAL TOWER, CHEMSUNNY WORLD TRADE CENTER, 28 1330 POST OAK BOULEVARD, SUITE 2500, HOUSTON, TX 77056, U.S.A. ZAYED ROAD, P.O. BOX 24625 DUBAI, UNITED ARAB EMIRATES ADD: 9 TEMASEK BOULEVARD #18-03, SUNTEC TOWER TWO, SINGAPORE FUXINGMENNEI STREET, BEIJING 100031, CHINA TEL: 001-713-2638880 TEL: 00971-4-3290777 038989 TEL: 0086-10-59569601, 59569604 FAX: 001-713-2120258 FAX: 00971-4-329047 TEL: 0065-63390110 FAX: 0065-63397037 FAX: 0086-10-59569627

SINOCHEM REPRESENTATIVE OFFICE IN THAILAND EMERALD ENERGY PLC BIG HORIZON SHIPPING AGENCIES LIM ITED SINOCHEM (UNITED KINGDOM) LTD. UNIT 6, 16/F, CRC TOWER, ALL SEASONS PLACE, 87/2 WIRELESS ROAD, ADD: 17TH FLOOR, NEW ZEALAND HOUSE,80 HAYMARKET, LONDON SW1Y4TE ADD: 11/F WESTMINSTER TOWER 3 ALBERT EMBANKMENT LONDON SE1 17/F, NEW ZEALAND HOUSE, 80 HAYMARKET, LONDON SW1Y 4TE, U.K. PHATUMWAN, BANGKOK 10330, THAILAND TEL: 0044-20-7925 2442 7SP UNITED KINGDOM TEL: 0044-20-79307060 TEL: 0066-2-6543066, 6540946 FAX: 0044-20-7930 9613 TEL: 0044-20-78400600 FAX: 0044-20-79304631 FAX: 0066-2-6543077 EMAIL: [email protected] FAX: 0044-20-77357121 E-MAIL: [email protected]

74 2014 ANNUAL REPORT 75 SINOCHEM CORPORATION REPARESENTATIVE Office IN SINOCHEM INTERNATIONAL CORPORATION REPRESENTATIVE FRANSHION PROPERTIES (CHINA) LTD. GRAND LIGHT DEVELOPMENT LIMITED UZBEKISTAN OFFICE IN SEOUL STOCK CODE: 00817. HK ROOM 4706, OFFICE TOWER ,CONVENTION PLAZA, 1 HARBOUR ROAD, Abdurauf Fitrat street,1/2.Tashkent,Uzbekistan. 14TH FL, DIO CENTER, SEOSOMUNNO 38, JUNG-GU, SEOUL, KOREA ROOM 4702-03, 47/F OFFICE TOWER, CONVENTION PLAZA,1 HARBOUR WANCHAI, HONG KONG TEL: 00-998-983109883 100-953 ROAD, WANCHAI, HONG KONG TEL: 00852-25888688 FAX: 00-998-983109883 TEL: 0082-2-7573993 TEL: 00852-28299668 FAX: 00852-25118660 E-Mail: [email protected] FAX: 0082-2-7579696 FAX: 00852-28240300 HTTP: // www.fehorizon.com E-MAIL: [email protected] HTTP: // www.franshion.com ROOM 3608, JIN MAO TOWER, NO.88 CENTURY AVENUE, PUDONG NEW 22/F, SINOCHEM TOWER, A2 FUXINGMENWAI STREET, BEIJING 100045, AREA, SHANGHAI 200121, CHINA CHINA TEL: 0086-21-50988880 TEL: 0086-10-59369900 FAX: 0086-21-50988890 SINOCHEM INTERNATIONAL (OVERSEAS) PTE. LTD. FAX: 0086-10-59369901 8 MARINA VIEW, #34-03 ASIA SQUARE TOWER 1,SINGAPORE 018960 SC Petrochemical FZE TEL: 0065-65385886 API WORLD TOWER SUITE 3002 SHEIKH ZAYED ROAD,DUBAI,UAE FAX: 0065-65389337 TEL: 00971-43542031 Far East Horizon Shipping Consulting Limited E-MAIL: [email protected] EMAIL: [email protected] FAR EAST HORIZON LIMITED 30A TOWER 10 SOUTH HORIZONS HK STOCK CODE: 03360. HK TEL: 00852-97702834 ROOM 4706, OFFICE TOWER, CONVENTION PLAZA, 1 HARBOUR ROAD, FAX: 00852-30075456 WANCHAI, HONG KONG SINOCHEM FARM CARE (THAILAND) CO., LTD. GMG Global Ltd. TEL: 00852-25888688 FAX: 00852-25118660 11TH FLOOR RASA TOWER II 555 PHAHOLYOTHIN ROAD CHATUCHAK Address: 8 Marina View #34-05, Asia Square Tower 1, HTTP: // www.fehorizon.com BANGKOK 10900, THAILAND Singapore 018960 35TH FLOOR, JIN MAO TOWER, NO.88 CENTURY AVENUE, PUDONG NEW TEL: 0066-2-9371230-100 Far East Healthcare Holding Limited TEL: 0065-62208638 AREA, SHANGHAI 200121, CHINA FAX: 0066-2-9371235 30A TOWER 10 SOUTH HORIZONS HK FAX: 0065-63230737 TEL: 0086-21-50490099 EMAIL: [email protected] TEL: 00852-97702834 FAX: 0086-21-50490066 FAX: 00852-30075456

SINOCHEM TRADING (SINGAPORE) PTE.LTD. SINOCHEM INDIA COMPANY PVT. LTD. #18-01/03,SUNTEC TOWER TWO 9 TEMASEKBOULEVARD, SINGAPORE FAR EAST HORIZON SHIPPING HOLDINGS CO., LTD. UNIT 2B, 2ND FLOOR, M6 PLAZA, JASOLA DISTRICT CENTRE, JASOLA, Far East Healthcare Management Limited 038989 30A TOWER 10 SOUTH HORIZONS HK NEW DELHI-110025, DELHI, INDIA 30A TOWER 10 SOUTH HORIZONS HK TEL: 0065-63380110 TEL: 00852-97702834 TEL: 0091-11-40658888 TEL: 00852-97702834 FAX: 0065-63341787, 63343216 FAX: 00852-30075456 FAX: 0091-11-40658880 FAX: 00852-30075456 E-MAIL: [email protected] EMAIL:[email protected]

SINOCHEM CROP PROTECTION (PHILIPPINES) INC. SINOCHEM INTERNATIONAL CHEMICALS (HONG KONG) LTD. 22F TOWER II INSULAR LIFE CORPORATE CENTRE, INSULAR LIFE DRIVE, Rm.12,46/F., OFFICE TOWER, CONVENTION PLAZA, 1 HARBOUR ROAD, FILINVEST CORPORATE CITY ALABANG, MUNTINLUPA WANCHAI, HONG KONG. CITY, PHILIPPINES 1781 TEL: 00852-28240100 TEL: 00632-2-8078125 FAX: 00852-28029607, 28241233 FAX: 00632-2-8078216 EMAIL:[email protected]

SINOCHEM JAPAN CO., LTD. IMC BLDG.SHINBASHI 6F, 5-5-1 SHINBASHI, MINATO-KU, TOKYO 105-0004, SINOCHEM INTERNATIONAL AUSTRALIA PTY. LTD. JAPAN LEVEL 8, 606 ST.KILDA RD,MELBOURNE VIC 3004, AUSTRALIA TEL: 0081-3-34347890 TEL: 0061-3-95208888 FAX: 0081-3-34348747 FAX: 0061-3-95208889 HTTP: // www.sinochemplastics.com/sinochemjapan/

76 2014 ANNUAL REPORT 77