The Board of Asia Energy Logistics Group Limited has approved the following changes to the composition of the Board and the respective Board committees of the Company (including the audit committee, the remuneration committee, the nomination committee and the executive committee), which shall take effect from 14 July 2020: Resignation of Non-executive Director and Independent Non-executive Director Mr. Yu Baodong and Mr. Chan Chi Yuen have tendered their resignation as a non-executive Director and the chairman of the company and as an independent non-executive Director (the "INED") respectively with effect from 14 July 2020 to pursue their other commitments and personal endeavours. Upon resignation, Mr. Yu would cease to act as the chairman of the nomination committee and Mr. Chan would cease to act as the chairman of each of the audit committee and the remuneration committee and a member of the nomination committee. Mr. Pang Yuet has been appointed as an executive Director and the chairman of the Company and the chairman of the nomination committee with effect from 14 July 2020. Mr. Pang, currently is a director of Boxin Financial Investment Holdings Limited and Boxin Asset Management Co. Ltd. Mr. Pang served as the vice general manager and board chairman of Yinhua Fund Management Company Limited from 2001 to 2003 and 2003 to 2012 respectively. From 2012 to 2015, he served as a partner of Boxin (Tianjin) Equity Investment Management Partnership (Limited Partnership). From 2015 to 2019, he served as board chairman of Boxin Fund Management Co. Ltd. (formerly known as Tianjin Boxin Xinyuan Asset Management Co. Ltd.). Mr. Pang has sound experience and strong relationship in financial industry.Ms. Jian Qing ("Ms. Jian") has been appointed as an executive Director and a member of the executive committee with effect from 14 July 2020. Ms. Jian, has been an executive director of China Nuclear Energy Technology Corporation Limited since 19 October 2009. She currently is also a director of each of Boxin Fund Management Co. Ltd. and Boxin Asset Management Co. Ltd. She has more than 20 years of experience in different areas of securities and financial management, which was gained from working at certain securities companies in the PRC and Hong Kong. Mr. Ng Kwun Wan has been appointed as an INED, the chairman of each of the audit committee and the remuneration committee and a member of the nomination committee of the Company with effect from 14 July 2020. Mr. Ng has over 20 years of experience in management. From November 1994 to August 2004, he worked for New World Development (China) Limited and New World China Enterprises Projects Limited, both wholly owned subsidiaries of New World Development Company Limited. He then joined Smart Faith Management Limited, a subsidiary of South China Holdings Company Limited, a company as a general manager of industrial operations in the real estate department, responsible for overseeing the company's operations in the Tianjin Region, from September 2008 to March 2009. He has also been an independent non-executive director of China Boton Group Company Limited (formerly known as China Flavors and Fragrances Company Limited) since December 2009. Ms. Wong Shuk Ha has tendered her resignation as the company secretary of the Company with effect from 14 July 2020 and confirmed that she has no disagreement with the Board and there are no matters in relation to her resignation that need to be brought to the attention of the Shareholders and the Stock Exchange. The Board announced that Mr. Suen To Wai has been appointed as the company secretary of the Company with effect from 14 July 2020.