The board of directors of Hans Energy Company Limited announced that Mr. Yang Dong has been appointed as an executive Director and the chief executive officer of the company with effect from July 13, 2016. Mr. Yang joined the company as business development manager in May 2012. Mr. Yang held various senior key positions in the subsidiaries of Sinopec such as the deputy general manager in China Petrochemical International Co.

Ltd. and deputy chairman and executive director in Sinopec Kantons Holdings Limited. He also has extensive experience in international trade of petroleum and chemical commodities. The board announced Mr. David An has ceasedto be the Chief Executive Officer with effect from July 13, 2016.

Mr. An will remain as an executive Director and the Chairman of the company. Mr. An has confirmed that he has no disagreement with the Board during his tenure as the Chief Executive Officer.