CMEC International Engineering Co. China (Mainland)

Over the years, CMEC International Engineering Co., while facing the turbulent market environment at home and abroad, has stayed committed to its course of reform, innovation, readjustment and development, and has taken a proactive stance in its efforts in reform and strategic restructuring. As a result, CMEC International Engineering Co. has improved its performance and asset quality, and has enhanced its ability for risk management, as well as for the long-term sustainable development with stable and healthy profit margin. The company has built a solid foundation for sound development in the future. In 2004, CMEC International Engineering Co, has established strong growth momentum. Profits before general provision almost doubled that of the previous year. All business segments reported remarkable progress. I would like to take this opportunity to express my sincere gratitude to our staff at CMEC International Engineering Co. for their diligence and hard work. I would also thank people from all walks of life, who have given their attention and support to the growth of our company. China is currently maintaining its rapid economic growth. It is increasingly active in its participation in economic globalization and regional cooperation. Cmec International Engineering Co., as a state-owned multinational conglomerate, will seize this opportunity of strategic importance by leveraging its competitive advantages and management expertise to further solidify its competitive positions and to strive for the targets set for long-term development.