On May 6, 2020, ZPEC Equipment Group and SinoTharwaDrilling Company held a signing ceremony for the petroleum equipment salesproject at the headquarters of ZPEC in Pudong New District, Shanghai.

Mr.Zhao Shunting, General Manager and Executive Director of SinoTharwa, Mr. HuDexiang, General Manager of ZPEC Equipment Group, Mr. Zhou Kezhen, Deputy General Managerof ZPEC Equipment Group, Mr. Li Jing, Sales Director, and Mr. Zhou Nianze, Headof the Marketing Department Supporting Team, attended the signing ceremony.

Atthe ceremony, Mr. Hu Dexiang first introduced to Mr. Zhao Shunting thedevelopment history of ZPEC Equipment Group and its main products. He pointedout that the signing of the contract marked the beginning of a large-scalecooperation between ZPEC and SinoTharwa. ZPEC will strictly implement thecontract and fulfill its responsibilities and obligations. Taking thiscooperation as a good start, ZPEC has considered long-term strategiccooperation with SinoTharwa from multiple levels and angles to achieve a win-wincooperation and, at the same time, laying a solid foundation for the future.

SinoTharwaDrilling Company was jointly established by Sinopec Star Co., Sinopec Star Co.,Ltd., and Tharwa Petroleum Company in September 2005. SinoTharwa, a natural gas holding company affiliatedwith the Ministry of Petroleum of Egypt, is now the second largest drillingcompany in Egypt and a model of high-level, successful cooperation betweenChina and Egypt in the gas industry and energy field. This cooperation has aleaping significance for the development of ZPEC Equipment Group in the Gulf Regionand will become a glorious stroke in the history of the market development of ZPECEquipment Group. It will also have a positive impact on the future developmentof ZPEC Group.