UNITED, PRECISE AND RESILIENT

The cover theme signifies the fundamental attributes of Hengyuan Refining Company (“HRC” or “the Company”), which were well exemplified by the Company and its workforce throughout 2025. A common, shared purpose and a focus on timely and execution, driven by technical excellence have propelled HRC to improve — developing cost efficiency, better performance and maintenance of excellence with regard to Quality, Health, Safety, Security and Environment (QHSSE).

The visual identity and design illustrates HRC’s refreshed brand elements introduces a sharper, more contemporary identity, underscoring its readiness to evolve while remaining grounded in its core strengths. Together, these elements convey the artistic impression or message of a company that remains ready, relevant and market attuned in navigating the complexities of an ever-changing energy landscape.