2005

- In January 2005, as part of the efforts to implement the Fertilizer Group's existing Memorandum of Understanding for exclusive agency cooperation during 2004-2006 with major international fertilizer suppliers, the Fertilizer Group signed exclusive sales agreements with CANPOTEX of Canada, DSW of Israel, APC of Jordan, respectively, for the sales of their products in China for year 2005. In the same month, the Fertilizer Group also signed with Uralkali of Russia exclusive agency agreement for its seaborne potash fertilizers in the China market. All this enabled the Fertilizer Group to maintain its leading position in the China potash fertilizer market.

- On 28 January 2005, the Company (as pruchaser) entered into an acquisition agreement with Sinochem HK (as Vendor) to acquire the Fertilizer Group of Sinochem HK. Mr. Liu De Shu, Chairman of the Board of the Company, was present at the agreement signing ceremony.

- In January 2005, Yunnan Three-Circles Sinochem Fertilizer Company Limited, a joint venture of the Fertilizer Group, initiated the construction of its 1.2 million tonnes per year diammonia phosphated ("DAP") project, which is the largest DAP production project in China.

- In January 2005, the Fertilizer Group set up two new branches of Sinochem Fertilizer in Guangdong andFujian provinces, respectively, actively exploring the fertilizer market of the southeast coastal areas of China.

- In February 2005, the "localization project of large-scale slurry-concentration process DAP installation" jointly developed by Sinochem Chongqing Fuling Chemical Fertilizer Company Limited ("Sinochem Fuling"), a subsidiary of the Fertilizer Group, and Sichuan University and China Phosphate Fertilizer Industry Association was awarded State Technological Advancement Award Grade II.

- In March 2005, the Fertilizer Group launched a national action plan to "provide techniques, fertilizers and services" to the farmers as a major program in its agrichemical service efforts. By the end of 2005, the program was able to cover 20 agricultural provinces, and warmly received by the broad masses of farmers. As a result, the activities drew the attention and wide coverage by major news media including CCTV and the Central People's Radio Station.

- On 12 April 2005, Mr. Liu De Shu, Chairman of the board of the Company and President of SinochemCorporation, met in Beijing with a work visit delegation from the Canadian potash industry, including the CEOs of PotashCorp, Mosaic and Agrium, which are the three major shareholders of Canpotex. Mr. Du Ke Ping, then vice president of Sinochem Corporation, and now the CEO of the Company, also attended the meeting and accompanied the guests to a fertilizer market observation trip following the meeting.

- In April 2005, Guiyang Sinochem Kailin Fertilizer Company Limited, a jointly controlled entity of - the Fertilizer Group, initiated the construction of its 200,000 tonnes per year monoammonia phosphate ("MAP") project.

- In May 2005, Sinochem Fuling, initiated the construction of its 300,000 tonnes per year MAP project.

- During 6 to 8 June 2005, Mr. Du Ke Ping, then vice president of Sinochem Corporation and now the CEO of the Company, led a Sinochem Fertilizer delegation to participate in the 73th IFA Annual Meeting in Kuala Lumpur, Malaysia. During the meeting, Mr. Du held discussions with major international fertilizer suppliers and customers for further cooperation.

- On 13 June 2005, the Company issued shareholders’ circular for the acquisition of the Fertilizer Group and announced the proposal of share placement. Such acquisition was duly passed at the special general meeting held on 5 July 2005.

- On 27 July 2005, the Company successfully completed the acquisition of the Fertilizer Group business, which constituted a reverse takeover, and was re-listed on The Stock Exchange of Hong Kong with the introduction of strategic investor PotashCorp.

- On 4 September 2005, Mr. Du Ke Ping, CEO of the Company (and then concurrently vice president of Sinochem Corporation) signed an exclusive agency agreement on behalf of the Sinochem Corporation with OCP of Morocco for the exclusive marketing and sales of OCP’s phosphate fertilizers in the China market for the period from 2007 to 2011. Mr. Wu Bang Guo, Chairman of the NPC Standing Committee who was visiting Morocco at the time attended the contract signing ceremony. The signing of such agreement is important for strengthening the market status of the Fertilizer Group in respect of acquiring international high quality phosphate resources.

- During 25 to 27 September 2005, Mr. Du Ke Ping, CEO of the Company, led a Sinochem Fertilizer delegation to participate in the TFI (The Fertilizer Institute) 2005 Annual Meeting in Toronto, Canada, at which Mr. Du held discussions with major international fertilizer suppliers on the issues regarding mutual cooperation in 2006 and future development. - In September 2005, "Tengsheng" brand MAP produced by Sinochem Fuling won the title of "China’s Famous Brand Product".

- In November 2005, the Group entered into an exclusive agency agreement with Nitrem-Complex on the exclusive marketing and sales of the latter's sulphate of potash-based compound fertilizers in the China market for the year 2006. - In November 2005, the Group participated in the open tender for commercial reserves of fertilizers during the 2005/2006 slack season organized by the Chinese government. Thanks to the Group's advantages in distribution network, high quality product sourcing and brand awareness, the Group successfully tendered for 1.3 million tonnes of subject fertilizers, which accounted for 16% of the total subject volume.- In December 2005, the "Sinochem" brand and "Teng Sheng" brand compound fertilizers, produced by Fujian Sinochem Zhisheng Chemical Fertilizer Company Limited and Sinochem Fuling, subsidiaries of the Group respectively, won the title of "Products Exempt from Inspection by the State."

- In December 2005, the Group's three-year strategic plan (2006 - 2008), modified on a rolling basis, was approved by the Board of Directors, further setting forth the strategy of "focusing on distribution and integrating production, supply and sales for synergic development", as well as the major strategic actions for the Group in the next three years.