Recently, the State-owned Assets Supervision and Administration Commission(SASAC) announced the List of Benchmark Enterprises, Benchmark Projects and Benchmark Models for Improvement Action of Management Benchmark of key state-owned enterprises. COSL was successfully included in the list of “Benchmark Enterprises” released by SASAC.

In March this year, in order to give play to the leading role of outstanding enterprises, SASAC organized central enterprises and local key state-owned enterprises, planned to build, manage and improve benchmark enterprises, benchmark projects and benchmark models also known as Three Benchmarks, which mainly emphasize the outstanding management ability, distinguished management and strong influences. In line with the benchmark selection and the overall deployment of the three-year action plan for the reform of state-owned enterprises, the Company was successfully included in the benchmark list released by the SASAC, which fully reflects that the Company has achieved a milestone in terms of the improvement of the world-class management benchmark.

As entering a new development stage, the Company has implemented the new development concept, constructed the new development pattern, solidly carried out the benchmarking of world-class management improvement, thoroughly implemented the three-year action plan for the reform of state-owned enterprises, continued to promote the high-quality development of the Company, and advanced the modernization of corporate governance system and governance capacity in an all-round manner. Being selected as a “benchmark enterprise, the Company will take the opportunity to accelerate the deepening of reform to achieve practical results and extract experience, constantly improve the level of management and strive to build a world-class energy service company with Chinese characteristics.