[Unofficial excerpt translation from Chinese to English]

"Chinese Cooking Oil Companies Respond to Transportation Safety Concerns" 9 July 2024

Recent reports suggesting that tankers were being used to transport cooking oil immediately after carrying coal-derived oil have prompted responses from several major Chinese cooking oil companies.

Hopefull Grain & Oil Group stated that the bulk oil they sell is collected directly by customers and can be distributed through various market channels. They noted that while customers hire their own tankers for transportation, the company has a process in place to inspect the qualifications of these vehicles.

Sinograin Group announced that they are taking the matter seriously and have initiated a comprehensive inspection across their entire system since July 5th. They emphasized that this action follows an earlier directive on July 2nd for their subsidiary oil companies to conduct internal investigations.

Yihai Kerry Arawana reported that the incident has not affected their operations, stating that they strictly adhere to national regulations and have implemented group-wide management systems to ensure product quality and safety in oil transportation.

Representatives from Daodaoquan Grain and Oil and Xiwang Foodstuff, when contacted by reporters posing as investors, similarly stated that the issue has not directly impacted their companies. Xiwang Foodstuff particularly noted that they use their own logistics team for transporting raw materials, mitigating the reported safety concerns.