September 24, HBIS and AHQ Group signed a MOU on a water pipeline project in Riyadh, Saudi Arabia. HBIS Chairman Liu Jian and AHQ Chairman Tariq Abdulhadi Abdullah Al-Qahtani signed the MOU and discussed topics such as consolidating past cooperation achievements and jointly exploring future cooperation projects.

Vice Chairman of AHQ Group Salah Abdel Hadi Al-Qahtani, COO of AHQ Group Izhar Khan witnessed the signature of the MOU.

Liu Jian introduced HBIS Group and expressed gratitude to AHQ Group for its continuous strong support to HBIS. He said that HBIS Group, as a large-scale integrated steel enterprise in China, has unique advantages in production processes, product applications, technological research and development, green and low-carbon development and other fields, and has sufficient strength to meet the steel market demand of Saudi Arabia, and AHQ Group is an industrial and construction enterprise with significant influence in the Middle East. It is highly consistent with the development concepts of HBIS Group in terms of production and operation, future planning, etc. At the same time, the two sides have established a pleasant cooperative relationship, and the foundation for further expanding cooperation is solid. It is expected that both sides will take this signing as an opportunity to join hands to promote the implementation of cooperation projects, further expand the scope of cooperation, achieve mutual benefit and win-win results, and take the cooperation between the two sides to a new height.

Tariq Abdulhadi Abdullah Al-Qahtani introduced AHQ Group and expressed gratitude to HBIS team for their efforts in the early stage of cooperation. He said that ?AHQ Group is a leading enterprise in the field of industrial technology in Saudi Arabia. Its core businesses include the manufacturing of oil and gas equipment, oil and gas field services and urban infrastructure construction, covering markets in Saudi Arabia, Europe, America and Asia. Chinese enterprises have leading advantages in cost management, technology, product quality and other aspects. AHQ Group is willing to further deepen cooperation with HBIS Group. It is expected that both sides will continue to consolidate their good cooperative relationship, give full play to their respective resources and advantages, ensure that the cooperation projects achieve the expected goals, seek more convergence points in more fields, and achieve mutually beneficial and win-win development.

In warm applause, Liu Jian and Tariq Abdulhadi Abdullah Al-Qahtani signed the Memorandum of Understanding on Saudi Arabia's Water Pipeline Project Cooperation. According to the cooperation agreement, both parties will rely on the technological and production capacity advantages of HBIS and combine the local market resources of AHQ to jointly serve the National Water network project of the Saudi Water Authority, work together to explore the steel and infrastructure markets in the Middle East, and achieve complementary advantages and mutual benefit and win-win results.

HBIS Capital Operations Department, Sales Export Department, DITH Carbon Steel Department Mid-East and China Executives, and AHQ Executives were also in the event.