2003 saw the break though of 5 million tons of steel output. Led by senior CPC organization and supported by all circles of the society, Jinan Steel strived to make remarkable achievement. It was lined into the row of leading steel companies in China. Excellent Performance Management Mode was applied. National Quality Management Award was won. OA and ERP system helped introducing the management on line. The profit got a remarkable lift, the export volume kept top in steel industry. A modern production line from BF, converter to rolling mill was finished. The capability on innovation of technology and management was improved, the company entered quick track to pursue to be first level in China and advanced abroad. Non-steel business also got well developed, the sub-companies operated better than before. The environment changed fundamentally, the employees' income rose steadily, the company culture was carried forward, the core valuation concept of "To be respectable, trustable and win-win" was broadly recognized and the spirit of "fire" and "big family" was embodied.

The development of Jinan Steel has being supported by friends from all circles of the society. I, and my staff, hereby extend our sincere and cordial regards and thanks to our customers and all of our friends.

Facing with challenge of globalized economy and opportunity of construction of a richer society, Jinan Steel will insist on its core valuation concept for mutual win with customers, partners, suppliers, employees and the society. We will make the company more competitive and powerful for a leap development, so as to realize our mission of "Serve the customers, pay back to the investors, enrich the employees and contribute to the society" in a high level.

Thank you!

Li Changshun
President of Jinan Iron & Steel Group Corporation