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HPMM Group had recently received good news that its subsidiary Mongolia Xinyi Energy Co., Ltd. had obtained the exploration license for the Darigangga oil block in Mongolia. This indicated that Mongolia Xinyi Energy Co., Ltd. has the right to exploit an area of approximately 17,000 square kilometers in Mongolia’s "Dariganga 24 Block"; it indicated that HPMM Group has taken substantial steps in oil exploration and development of Mongolia.

The Mongolian exploration license was valid for four years. Mongolia Xinyi Energy Co., Ltd. enjoyed 100% of the exploration rights in the block within four years of the exploration period and conducted data collection, processing, comprehensive geological interpretation, oil and gas evaluation, and well location deployment, and drilling and other oil and gas exploration operations. If there were oil and gas discoveries in the exploration wells, after the Mongolian government confirmed the reserves and approved the mining operation plan, Mongolia Xinyi Energy Co., Ltd. would carry out relevant development and construction activities to extract oil. The mining period is 25 years.

Through the exploitation of petroleum resources in the "Dariganga 24 Block", it is of great significance to implement the national energy security strategy, alleviate energy shortages, and promote economic development. HPMM Group will make full use of its unique technology to conduct independent exploration of the block, and invest in the development of the discovered oil and gas resources with commercial value, and obtain oil and gas resources at a relatively low cost in a low oil price market environment.

At present, many domestic enterprises are seeking strategic transformation, but this action is difficult to implement in the rapidly changing market situation of entrepreneurship and the lack of relevant resources. HPMM Group is based on market demand and its own advantages, and gives full play to the unique advantages of the company to achieve comprehensive growth of both endogenous and extension, to stimulate the development of the industry. Advanced strategies, scientific systems, and comprehensive services can bring new vitality to the market; they can effectively drive the development, improvement and scale of the group company.

Mongolia has relatively rich oil resources, but its demand for oil is relatively low, while our country’s rapid economic development has increased its demand for oil, and it has advanced technical experience and equipment in oil drilling and extraction, which makes China and Mongolia’s cooperation, between the two countries in oil development, is highly complementary. Moreover, the oil deposits discovered in Mongolia are basically concentrated in the border area between China and Mongolia. There are 13 large oil basins in total, and the prospects are impressive. This has facilitated the cooperation between China and Mongolia in the field of petroleum exploration. The two sides have obvious geographical advantages in the development of Mongolian mineral resources, and the prospects for cooperative exploration and development are broad. Mongolia is a country to be developed, with vitality and unlimited business opportunities. Benefiting from the Chinese government's "One Belt and Road" strategy, Mongolia's oil industry has also entered a new stage of rapid development.

HPMM Group actively responds to the national "One Belt and Road" strategy, and "Going Global" has always been one of HPMM's development strategies. The entry of Mongolia Xinyi Energy Co., Ltd. in Mongolia is an important step in the HPMM Group’s "going out" strategy. It will lay a good market foundation for the group company to go international, and will also help the company to move quickly into international oil exploration Development area.

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Over the years of accumulation, HPMM Group has achieved a magnificent transformation. In the future, HPMM Group will realize the dream of HPMM and the Chinese dream with high morale, firm belief, never forget the original aspiration, and move forward bravely!