CHAIRMAN’S STATEMENT
      Reviewing Baoye’s development history, we have no success but growth experience. Thanks to the golden time of reform and opening policy, predominant economical and government policy of Zhejiang Province and the support from all local governments, we have made such achievement. Meanwhile, we summarized five aspects for the achievement we have made: the pursuit of excellence, the appropriate management system, the scientific humanistic operating concept, the enterprising spirit of innovation and arduousness spirit, which acted a decisive role in the Group’s development. One can’t eat fat by one bite, and success relies on perseverance. We all have responsibilities for Baoye’s future. I have summarised it in four aspects that is: “For a company’s development, healthy growth is the principle, perseverance is the excellent spirit, values are guarantee and knowledge serving for action is the root”.