May 25, 2023, Employee Meeting

Year-round, spring is the prime season; don't waste the beautiful springtime. On May 25, 2023, amidst the lush greenery and singing birds, we welcomed the first quarter employee meeting of the new fiscal year. Members of the Lang Board of Directors and all on-site employees participated in the meeting, both at the physical venue and through the virtual platform.

At the outset of the meeting, Chairman Aldous Wong of Lang Group shared significant information from the UK Howmet Group and expressed his expectations for Lang. He noted that 2023 marks the 10th anniversary of Lang joining the Howmet Group. Over a decade, Lang has delivered a robust and impressive performance record, which will be documented as a successful case in the upcoming FY22/23 annual financial report of the UK Howmet Group. This is not only a heavy honor but also a heavy responsibility.

Next, Aldous shared the latest developments within the group. The Haohai Group of the UK has signed an agreement to入驻 Shanghai Minhang District's Xinzheng Industrial Park in September 2022. This will establish an integrated production and R&D base for the group in the Asia-Pacific region. This move is a crucial component of Haohai Group's expanded R&D and operational strategic deployment in China and a key step to "upgrade" the brand's presence and enhance corporate influence in the Chinese market.

The integrated base will become Howmet's "new home" in Shanghai, with the Lang Shanghai R&D Center also relocating to the new facility. This will consolidate the production, operations, and R&D functions of the Shanghai subsidiary, and introduce a customer experience center to enhance synergy and support the long-term development of all subsidiaries. The relocation is expected to take place in the third quarter of this year, and a grand opening ceremony will be held.

Later, Aldous communicated the group's strategic goals for the new fiscal year, allowing employees to truly understand the group's commitment to innovation in the new situation and to feel more deeply rooted in China, serving China, and accelerating local research and production. Aldous' speech sparked a surge of recognition and a sense of belonging among everyone, with applause lasting for a long time.

The second session of the conference was a summary report of the company's performance for the last fiscal year. Financial Vice President Lucy Fang provided a detailed explanation and analysis of the company's financial indicators from multiple dimensions, giving everyone a comprehensive and overview understanding of the company's operating status.

Next, the conference reached a high point, where outstanding project teams and individuals from sales, R&D, operations, and comprehensive support departments were honored. A total of eight awards were presented, with board members awarding them and taking a group photo to remember the occasion.

Next, President May Zhao of Lang held a brief welcome ceremony for the new employees, warmly welcoming their addition to the team. She congratulated those who were recognized and promoted, and encouraged her colleagues to learn from the advanced and follow the example.

Subsequently, May reviewed the company's performance from the previous fiscal year and clearly outlined the strategic goals and focal points for the new fiscal year, FY24. She stated that the past year was challenging and extraordinary. It was the collective unity and dedication of everyone that provided a solid foundation for the company to navigate through smoothly. She thanked everyone for their willingness to face difficulties and their courage to take on responsibilities. This year marks a significant turning point, change, and leapfrog development. Faced with the new situation and tasks under the background of the times, we must always adhere to a customer-centric business philosophy and care for our customers' interests.

Next, the HR Manager of Lang, Huiying Zhao, announced a series of incentive policies including all-staff meal subsidies, team-building activities, sales awards, and self-learning awards to thank all employees for their contributions to the company's performance growth, promote and enhance team cohesion, and achieve collective development.

The employee meeting for the first quarter of 2023 marked the beginning of a new year, a fresh start. Let's unite towards our goals and embark on a new journey together.