Founded in 1949, the same year as the establishment of the People's Republic of China, COFCO Corporation Limited is a centrally administered, large-scale state-owned enterprise. While focusing on our core agri-food businesses, we also engage in businesses across the food, finance, and real estate sectors. Over the years, we have grown into a leading global agri-food corporation with international operations.

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As of the end of 2024, COFCO's total assets amounted to RMB 700 billion, with the total operating revenue for the year reaching RMB 635 billion.

With a global presence and full industry chain operations, we serve as a key coordinator in maintaining supply chain continuity across the global agri-food sector. We have built an integrated supply system covering cross-border sourcing, storage, logistics, processing, and trading. Our global business volume reached approximately 180 million tons, with assets spread across nearly 40 countries and regions on six continents. We focus on such agri-food categories as grain, oil, sugar, and cotton, and have strategically positioned ourselves in production regions with great growth potential, such as South America and the Black Sea. At the same time, we are expanding into major consumer markets across the Asia-Pacific, Europe, and Africa—regions that collectively represent more than half of the world's population. Our investments span storage infrastructure, ports, terminals, railways, and a modern fleet of bulk grain carriers. We are also building agri-food processing hubs and strengthening our global trade network. Together, these efforts have enabled us to establish a cross-hemisphere agri-food trade corridor, supporting more continuous and efficient global supply.

We are a trailblazer in driving the transformation and upgrading of China's agri-food sector, leveraging both our scale and our commitment to innovation to reshape traditional industries. As a primary channel for China's agri-food imports and exports and a major builder of the North-to-South grain logistics corridor, we rank first among domestic grain circulation companies in terms of grain trading volume. We also lead the country in annual processing capacity of oilseeds and rice, and in trading volumes of sugar and corn. Our corn deep processing capacity, annual wheat processing capacity, and cotton trading volume are also among the highest in the country. These strengths are supported by well-developed transfer capacity and large-scale, modern processing capabilities that match our operational scale. In key logistics regions such as the eastern coastal areas and along the Yangtze River, we have developed modern agri-food logistics hubs, including the Beiliang Port in Northeast China and the Jingjiang Terminal in East China. Across China's major agri-food production and consumption areas, we have established over 200 processing facilities. We also operate the largest integrated grain and oil processing industrial park in Asia. We are accelerating the development of new quality productive forces in the agri-food sector, using sci-tech innovation to reshape traditional industries. By working closely with hundreds of thousands of partners across the industry chain, we are jointly contributing to a modern agri-food industrial system.

We are building trusted national brands to meet consumers' evolving needs for higher-quality products and are recognized as a creator of outstanding food brands and a leader in nutrition and health. We provide Chinese consumers with packaged rice, flour, edible oil, sugar, wine, beverages, meat and meat products, tea, and dairy. Our products are available in more than 4 million retail outlets, covering over 90% of all prefecture-level cities across the country. We produced the first bottle of dry red and dry white wine in the PRC and established the country's first state-owned tea company. Our sub-brands, such as Fortune, Greatwall, China Tea, Joycome, Jiugui, Lohas, and Mengniu are widely recognized by consumers as trusted national brands. In response to the evolving nutritional needs of the population, we are also conducting in-depth research to guide trends in dietary improvement.

We are advancing the integration of industry and finance, and building a comprehensive financial platform that supports our core agri-food businesses. Our financial services cover futures, trusts, insurance, and industrial funds. We have developed a financial service chain complemented by industrial funds, fintech, and overseas business, with a focus on three innovative areas: supply chain finance, agricultural finance, and wellness finance. These services provide financial support for the development of the agricultural industry chain and supply chain.

Rooted in urban renewal and committed to developing new retail business models, we provide services that empower urban development and bring a better life to people. We continue to drive multi-sector synergy, with businesses spanning commercial complexes, residential properties, industrial real estate, hotels, office buildings, long-term rental apartments, and property services. With a presence in nearly 40 core cities across first- and second-tier markets, we are shaping a diversified Joy ecosystem that integrates diverse business formats, well-planned urban layouts, and optimized asset structures, creating lifestyle spaces for the public. Our Joy City commercial projects have been launched in over 25 cities across the country, with more than 40 projects currently operating or under development. We are leading the high-quality development of commercial real estate in a landscape defined by increasingly diverse consumer experiences.

Looking ahead, we will continue to focus on our core agri-food businesses, strengthen our core functions, and enhance our core competitiveness. We are committed to taking the lead in achieving higher-standard sci-tech self-reliance, advancing the modernization of the industrial system, and fostering the development of new quality productive forces. We will deepen enterprise reform, support rural revitalization across the board, pursue higher-standard development, and fast-track our journey to becoming a world-class enterprise with global competitiveness and influence.