A new year begins, opening a fresh chapter. At this moment of renewal, all employees of Shandong Lixing Advanced Material Co., Ltd. extend New Year blessings, sincere greetings and heartfelt thanks to our customers, partners, suppliers and everyone who cares about and supports the company's development.
The year 2022 was extraordinary. The successful 20th National Congress of the Communist Party of China drew worldwide attention and high expectations. General Secretary Xi Jinping's report reflected present realities, set a direction for the future and called for advancing national rejuvenation through Chinese modernization. It was also a pivotal year for our transformation and growth. With leadership and support from the Tancheng County Party Committee, county government and relevant departments, Lixing Advanced Material remained true to its purpose and goals. We tackled the pandemic, managed risks, safeguarded safety and stability, and promoted development. Through dedication, hard work, intelligence and determination, our employees overcame challenges, completed demanding tasks and achieved substantial results.
United and resolute, we advanced project construction throughout the year. In late September 2022, our Phase III ethyl methyl carbonate and diethyl carbonate units entered operation. The overall project took nearly 10 months, overcoming production and technical challenges and achieving a significant milestone. Electronic-grade ethyl methyl carbonate exceeding 99.99% purity was produced in just 60 hours, and product exceeding 99.999% purity in 70 hours, reaching a leading industry level.
Working together with determination, we achieved fruitful results. In June 2022, the company and Linyi University established a high-end solvent research center. That month, we were also recognized as a Linyi Smart Factory and an enterprise with a One Enterprise, One Technology R&D center. In July 2022, we received the Shandong specialized, refined, distinctive and innovative SME and Gazelle Enterprise designations. These achievements reflect our builders' hard work and the progress of everyone striving forward, leaving meaningful memories and substantial rewards.
We worked pragmatically to improve operations and advance reform. In March 2022, the company reviewed and reformed its organizational structure, redesigned processes and completed information-system development, comprehensively improving internal management. In December 2022, it completed its shareholding restructuring and name change, introducing equity incentives for management and key internal talent to strengthen motivation.
We will keep moving forward with determination toward new horizons. In 2022, we persevered and reached new production and sales highs. The year 2023 will bring both opportunities and challenges. We will fully implement the spirit of the 20th CPC National Congress, build on our strengths, advance steadily and improve quality, open new overseas markets, reinforce our brand advantages and support stable, high-quality development.
We wish our country peace, prosperity and continued success; Lixing Advanced Material lasting growth; and everyone a happy New Year and happiness with their families!
Shandong Lixing Advanced Material Co., Ltd.
January 21, 2023
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