SINOPEC Yizheng Chemical Fibre Co., Ltd.(YCF) is the holding subsidiary of China Petroleum & Chemical Corporation and is the largest modernized manufacturer of chemical fibre and its raw materials in the Peoples Republic of China . In terms of polyester production capacity in 2004, YCF ranks as the fourth largest polyester manufacturer in the world.

YCF was located in Yizheng City, Jiangsu Province, and was established on December 31, 1993.YCF issued 1 billion H shares in March 1994, 200 million A shares in January 1995 and a further 400 million new H shares in April 1995. YCF??s H shares, A shares, and new H shares were listed and traded on the Stock Exchange of Hong Kong Limited and the Shanghai Stock Exchange on 29 March 1994, 11 April 1995 and 26 April 1995 respectively.

YCF is principally engaged in the production and sales of polyester chips and polyester fiber; and production of its raw materials PTA. Its principal activities include production and distribution of chemical fibre and petrochemical products, production of ancillary raw materials, research and development (R&D) in chemical fiber and textile technology, transportation and technological support for products manufactured by YCF.

YCF??s production facilities were mostly imported from Germany, Japan, Italy and France, England and America etc. Its technology has reached advanced level in the polyester industry through continuous technological improvements. The quality system of the Company??s products received an international certificate in respect of ISO9001(2000), YCF also received an international certificate in respect of ISO14001 environmental management system. YCF produces and sells more than two hundred kinds of products of polyester and fiber, and its product quality commands a leading position in the industry. YCF has achieved new progress in the integration of ISO9001, ISO14001 and HSE. At the end of 2004, YCF and its subsidiaries owned polymerization facilities with an annual capacity of 1,574,000 tons, solid-state-polymerization facilities for bottle-grade chips with an annual capacity of 410,000 tons, spinning and drawing facilities for polyester fibre with an annual capacity of 800,000 tons, texturing facilities for polyester filament with an annual capacity of 107,000 tons and oxidation and purification facilities for PTA with an annual capacity of 855,000 tons. As a result, YCF has benefited from the economies of scale.

Profiles of company principal leaders:

Mr. Qian Heng-ge, aged 54, Chairman of Yihua Group Corporation(??Yihua??), Vice Chairman of the Company, Secretary of Committee of Chinese Communist Party (the ??CCCP??) of the Company and Yihua, and senior P&I Engineer. Mr. Qian joined Yihua in 1984. Since then, he had served as Deputy Head of the General Manager Office of Yihua and Head of the General Manager Office of the Company. In June 1995, he was elected as Chairman of the Supervisory Committee, and appointed as Deputy Secretary of the CCCP and Secretary of the Discipline and Inspection Commission of the Company. He was re-elected as Chairman of the Supervisory Committee and appointed as Secretary of the CCCP of the Company in December 1996. In January 1998, he was elected as Executive Director, appointed as Deputy General Manager of the Company and elected as Director of Yihua. In March 1998, he was appointed as Deputy Secretary of the CCCP of the Company and Yihua. He was elected as Vice Chairman of the Company in December 1999. In April 2002, he was appointed as General Manager of Yihua. In December 2002, he was re-elected as Vice Chairman of the Company. In July 2004, he was appointed as Secretary of CCCP of the Company and Yihua, and Chairman of Yihua. For a long period of time, Mr. Qian has held leading positions in administration and human resources management and has extensive experience in overall management in extra-large-scale enterprise. Mr. Qian graduated from Distance Learning College of the Communist Party Central Academy in 1987, majoring in business administration. He completed the course of MBA in Nanjing University in 2000.

Mr. Xu Zheng-ning, aged 47, Managing Director of Yihua,Chairman of the Company, and Senior Engineer (at professor level). Mr. Xu receives special subsidies awarded by the State Council of the PRC. Mr. Xu joined Yihua in 1983. Since then, he had served as Deputy Director of the Research Institute of Yihua, Deputy Director and Director of the Polyester Plant No. 4, and Assistant to General Manager of the Company. He was appointed as Deputy General Manager of the Company in April 1995. In December 1996, he was elected as Executive Director and appointed as Deputy General Manager of the Company. He was re-elected as Director and re-appointed as Deputy General manager of the Company in December 1999. He was appointed as General Manager of the Company in June 2001. In December 2002, he was re-elected as Director and re-appointed as General Manager of the Company. In March 2003, he was appointed as Director of Yihua, and in July 2004, he was elected as Chairman of the Company and was appointed Managing Director of Yihua. Mr. Xu has extensive experience in production, equipment management, project management, technological improvement and marketing in large-scale enterprise. Mr. Xu graduated from Nanjing Chemical Engineering College in 1981, majoring in chemical engineering. He completed the course of MBA in Nanjing University in 1998 and obtained Engineering Master degree in Suzhou University in January 2005, majoring material engineering.

Mr. Xiao Wei-zhen, aged 51, Managing Director of the Company, Director of Yihua, Chairman of Kangqi Company, and Senior Engineer. Mr. Xiao receives special subsidies by the State Council of the PRC. Mr. Xiao joined Yihua in 1982. Since then, he had served as Deputy Director and Chief Engineer of Polyester Plant No. 2, and then Director of Polyester Plant No. 4 of the Company. In December 1996, he was appointed as Deputy General Manager of the Company. In November 1997, he was transferred to be Head of Production and Marketing Department in China Eastern United Petrochemical (Group) Company Limited(??Eastern United ??). In January 1998, he was elected as Executive Director of the Company. In May 1998, he was appointed as Deputy General Manager of the Company. He was re-elected as Director and re-appointed as Deputy General Manager of the Company in December 2002. In July 2004, he was appointed as Managing Director of the Company and Director of Yihua. Mr. Xiao has extensive experience in production, technological improvement and business administration in large-scale chemical fibre enterprise. Mr. Xiao graduated from the Department of Chemical Engineering of Zhejiang University in 1982, majoring in macromolecular chemistry. He completed the course of MBA in Nanjing University in 2003.

Ms. Sun Zhi-hong, aged 55, Vice Chairwoman of the Company, Deputy Director of the Finance Department of CITIC, and Director of CITIC Offshore Helicopter Co. Ltd., Senior Accountant and CPA of the PRC. She held the position of Deputy Director of the Finance Department of CITIC since January 1999. She was elected as Vice Chairwoman of the Company in December 1999, and was re-elected in December 2002. Ms. Sun has extensive experience in financial management in large-scale enterprise. Ms. Sun graduated from China Central Broadcasting and Television University in 1986, majoring in accounting and completed the graduate course of International Business Administration in Beijing Economic College in 1995.

Contact:
Address: Zhenzhou Town, Yizheng City, Jiangsu Province
Postcode: 211900
Tel:(0514) 3232235
Fax: (0514)3233880
Email: info@ycfc.com
Web Site: www.ycfc.com