The board of directors of Rizhao Port Jurong Co., Ltd. announced that Mr. Shi Ruxin has tendered his resignation as a non-executive Director due to other business engagements and will cease to serve as a member of the audit committee of the Company (the "Audit Committee"), with effect from 26 January 2021. Following the resignation of Mr. Shi as a non-executive Director, the Audit Committee will be comprised of two independent non-executive Directors. The Board further announced that Mr. Chen Lei ("Mr. Chen") has been nominated for election as a non-executive Director in the forthcoming extraordinary general meeting (the "EGM"), and the Board proposes to appoint Mr. Chen as a member of the Audit Committee upon the approval of the Shareholders on his appointment as a non- executive Director at the EGM. Mr. Chen has held various positions in Rizhao Port Group Co., Ltd. since 2012. Subject to the approval by the Shareholders at the EGM, the Company will enter into a service contract with Mr. Chen in respect of his appointment as a non-executive Director for a term commencing from the date of approval by the Shareholders at the EGM until the expiry of the current session of the Board. Upon the approval of the Shareholders on the appointment of Mr. Chen as the non- executive Director at the EGM followed by his appointment as the member of the Audit Committee by the Board, the composition of the Audit Committee will comply with the requirements under Rule 3.21 of the Listing Rules and Article 4 of the Terms of Reference.