ADAMALtd. 2018AnnualWorkingReportoftheIndependentDirectors AsindependentdirectorsofADAMALtd.(hereinafterreferredtoas“the Company”),weactivelyattendedtherelevantmeetings,earnestlydeliberatedall proposalsoftheBoardofDirectorsandprovidedindependentopinionsonrelated issues,thussafeguardingtheinterestsoftheCompanyandallofitsshareholdersand fulfillingourdutiesintheCompany,allstrictlyinaccordancewiththeCompanyLaw ofthePeople’sRepublicofChina,theGuidingOpinionsonEstablishmentof IndependentDirectorsforListedCompanies,theWorkingSystemforIndependent Directorsandotherlaws,regulationsandtheCompany’sArticlesofAssociation.We herebyreportour2018annualworkasfollows: I. AttendanceatRelevantMeetings In2018,theCompanyheld11meetingsoftheBoardofDirectorsandfour GeneralMeetingsofShareholders,allofwhichwereattendedbytheindependent directorswithoutanyobjectiontotheproposalsandotherrelatedmattersdeliberated bytheBoardofDirectors.Theattendancedetailsareasfollows: AttendanceatBoardMeetings Attendance Required at attendance AbsenceShareholders’ Nameof Meetings independentatBoard On-site Participationby Attendance fromtwo Absences director MeetingsAttendance meansofvideo byproxy consecutive during meetings 2018 Tang 4 11 0 11 0 0 No Yunwei XiZhen 11 0 11 0 0 No 4 In2018,wereceivedanin-depthunderstandingoftheCompany’soverall productionandoperationsandreviewedtheusageoftheraisedfunds,changeofthe accountingpolicy,appointmentandresignationofdirectors,publicopinionsandreportsontheCompanyandotherimportantmatters. AteachmeetingoftheBoardofDirectors,wecarefullydeliberatedtheproposals,activelyparticipatedindiscussionsandputforwardreasonablesuggestions.Weeffectivelyfulfilledtheresponsibilitiesofindependentdirectors,safeguardedtheoverallinterestsoftheCompanyandthelegitimaterightsandinterestsofallshareholders,especiallysmallandmediumshareholders,andpositivelycontributedtothesustainable,stableandhealthydevelopmentoftheCompany. II.ProvidingIndependentOpinions In2018,weprovidedindependentopinionsonthefollowingmatters: DateofOpinion OpinionMatter/s Opinion 1.RemunerationoftheIndependentDirectorsand seniormanagementmembers; March1,2018 Agreed 2.NominationsoftheIndependentDirectorsandthe non-independentdirectors. 1.UtilizationoftheCompany’sfundsbythe controllingshareholdersoritsrelatedparties;external guarantees; 2.Engagementoftheexternalauditors; 3.Pre-planofthedividenddistribution; 4.Changeofaccountingpolicyandaccounting March27,2018 estimation; Agreed 5.Assetswrite-off; 6.Examptionoftheself-appraisaloninternalcontrol andthecorrespondingauditorreport; 7.Depositandusageoftheraisedfundsin2017; 8.DepositinChemChinaFinancialCo.,Ltd. 9.2017bonusesofseniormanagement 1.Estimationoftherelatedpartytransactionsinthe June7,2018 ordinarycourseofbusinessin2018; Agreed 2.Estimationofguaranteestobeprovidedin2018 Utilizationofpartofthefundsraisedfromcertain June25,2018 qualifiedinvestorsthroughtheissuanceofordinaryA Agreed sharesinDecember2017,forreplacingcapital previouslyinvestedinthedesignatedprojects includedinthe2017MajorAssetsRestructuring July26,2018 Replacementofadirector Agreed 1.UtilizationoftheCompany’sfundsbythe controllingshareholdersoritsrelatedpartiesinthe August27,2018 firsthalfyearof2018; Agreed 2.Depositandusageoftheraisedfundsinthefirst halfyearof2018 Applicationofdesignatedraisedfundsbywayof October30,2018 investmentinwhollyownedsubsidiariesofthe Agreed Company Change of the Company’s name and stock December10,2018 Agreed abbreviations Thedetailsofalltheaboveindependentopinionsarepublishedonwww.cninfo.com.cn. III.OtherWorkPerformedfortheProtectionofInvestors’RightsandInterests ThemanagementoftheCompanypaidsignificantattentiontothecommunicationwithusandprovideduswithregularreportsandtheprogressofmajorissues,thus providingagoodfoundationfortheperformanceofourduties. ContinuousattentionwaspaidtotheinformationdisclosureoftheCompany:wehavebeensupervisingtheCompany’sinformationdisclosuretostrictlyconformtotheCompanyLawofthePeople'sRepublicofChina,theRulesofShenzhenStock ExchangefortheListingofStocksandotherlawsandregulationsaswellasthe InformationDisclosureManagementSystem,toensurethetrue,correct,complete, timelyandfairinformationdisclosureoftheCompany. ContinuousattentionwaspaidtotheinternalcontrolandgovernanceoftheCompany:Duringthereportingperiod,wehavereviewedtheprogressofthenamechange,theformulationandimplementationofrelevantgovernancesystems,thestatusofproductionandoperationmanagement,theestablishment,completionandimplementationofinternalcontrols,theimplementationandfollow-upofthe resolutionsoftheBoardofDirectorsbytheCompany’sManagement,etc.Basedonthose,wehaveurgedtheCompanytocompleteimplementationofrelevantsystems,enhanceinternalcontrolsandstrengthenstandardoperations. IV.Others TheBoardofDirectorsconsistsoffourspecialcommittees.Duringthereportingperiod,therelevantcommitteesstrictlyfollowedtherulestoconvenemeetingsanddeliberatedtheissuesthatwerewithintheirrespectiveworkingareas.Thecommitteesoperatedinanormalwayinthereportingperiod. Duringthepreparationanddisclosureofthe2018annualreportoftheCompany,ManagementreportedontheprogressmadeinthebusinessoftheGroupaswellasimportanteventsthatoccurredin2018,discussedwiththeauditingaccountantskeyissuesandputforwardsuggestionsandformedresolutions. AllMeetingsoftheShareholdersoftheCompanyin2018wereconvened,proposed,heldandvotedaccordingtolegalproceduresandwiththepresenceofthelawyerswhoissuedlegalopinions.Therefore,theresultsofsuchmeetingswerelegalandeffective.Duringourtermofofficein2018,allthemeetingsoftheBoardofDirectorsoftheCompanywereheldaccordingtorelevantlegalprocedures;andatthemeetings,alldecisionsweremadeinaccordancewithrelevantproceduresandthusarelegalandeffective. In2018,wedidnotproposetoconveneanymeetingoftheBoardofDirectorsoranyGeneralMeetingofShareholders;toemployordismissanyaccountingfirm;andtoseparatelyemployanexternalauditagencyoranadvisorybodytoauditorprovideconsultationonspecificmattersoftheCompany. IndependentDirectors: ______________ ______________ TangYunwei XiZhen ADAMALtd. March19,2019