Stock Code:430508 
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2024 New Year's Speech

The first year after the epidemic, one side is calm, the other side is undercurrent surging.

Cultural consumption ushered in a wave of retaliatory growth, May Day scenic spot passenger flow, cinema crowd during summer vocation time, as well as an endless stream of concert highlights everywhere, all show the recovery of the cultural market.

Compared with before the epidemic, the film market recovered. In 2023, the total box office of national films was nearly 55 billion yuan, 85% of the total box office in 2019.

This year, ZOSE Cinemas adhered to the prudent expansion strategy, opening three new cinemas in succession, nearly 30 direct investment cinemas and 200 screens. ZOSE Cinemas ranked among the top 40 among nearly 200 film investment companies in China, and the comprehensive income of cinemas achieved 85% of the annual target. We know that in the film market with homogeneous products and fierce competition, there is no shortcut to achieve "resilient growth". What we can do is back down to earth.

Taking root downward, like the sharp grass on the African grassland, there is a long dry season of up to six months in a year, almost no grass growth, it deeply rooted into the soil, quietly accumulated energy, waiting for a heavy rain to come, the rainy season arrived, it will grow up at a crazy speed, within a few days to become the king of the grassland.

Taking root downward means to exert efforts in places invisible to others, practice internal skills well, ask for benefits from management, promote cost reduction by saving energy, and exchange service for public praise.In the past four years, ZOSE Cinemas has adhered to energy conservation and consumption reduction, cost reduction and efficiency improvement, unit energy consumption ratio decreased by 30%, and output per capita increased by 10%, all of which are better than those of their peers.

Taking root downward is to strictly control risks and fight steadily. In the field of acting agency and film and television investment other than cinema investment, we are committed to talent layout and project reserve, try to build it up and hit it with one hit.

Taking root downward, also reflected in the real estate plate.This year, under the background of steady progress in the construction of free trade port, Hainan's real estate regulation policy has not been loosened for a long time. The superposition of market wait-and-see mood and purchase restriction policy has tested the developers on the island.In the face of sales pressure, we did not exchange price for quantity, but continued to work hard on quality, optimize the environment, improve service, strive for perfection, and give back to the owners with quality. With the completion of the planning and construction of the Yingwan area around the new city and the gradual improvement of supporting facilities such as hospitals in Binhai New District, the value of ZOSE·Golden Bay has become increasingly prominent.

Taking root downward in order to bloom upward. It is the mission of the enterprise to export positive cultural products for the society, create sustainable long-term value for shareholders, and enable employees to live a dignified and decent life.In the face of the turbulent times, enterprises are like a small boat floating and sinking. We can only bypass the rapids and dangerous shoals if we are united from top to bottom, have the same goal and go all out. High tide both banks are extravagant, a wind sail hangs.

In the new year, we have seen the accumulation of various positive factors, heard the drums of the free trade port closing operation, and we are ready for various responses, just like the sharp grass on the African grassland, whose roots have deeply penetrated into the soil and are waiting for the rainy season.

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