The board of directors of Shengli Oil & Gas Pipe Holdings Limited announced that with effect from 10 March 2021, Mr. Song Xichen resigned from his office of executive Director due to change of work arrangement. Mr. Song shall remain as the vice president of the company. The board also announced that with effect from 10 March 2021, Mr. Jiang Yong resigned from his office of non-executive director due to his personal business development. Upon resignation, Mr. Jiang will no longer hold any office or position in the company. The board announced that with effect from 10 March 2021, Mr. Zhang Bangcheng has been appointed as the executive Director. Mr. Zhang Bangcheng, aged 49, Mr. Zhang served as the risk control manager of Beijing X&H Investment Management Co. Ltd. from July 2019 to January 2021, where he was mainly responsible for monitoring and controlling the risks of the investment projects of the company. He was the chairman of the board of directors of Hami Tianzhi New Energy Technology Co. Ltd., where he was mainly responsible for the overall management and operation of the company, from April 2017 to December 2018. From June 2013 to March 2017, he served as the managing director of Magic Group (HK) International Holdings Co., Limited and was mainly responsible for managing the investment and overseeing the operation of the company in the PRC. He was the vice president of Sino-Singapore Lion Investment Pte Ltd., where he was mainly engaged in the listing of PRC corporations on the Stock Exchange and the Singapore Stock Exchange, as well as private equity financing of pre-IPO investment of PRC corporations, cross-border restructuring and asset and equity acquisition, from May 2008 to September 2010. From July 2005 to December 2007, Mr. Zhang served as the investment director of Beijing Beirong International Investment Co. Ltd. and was responsible for, among others, conducting industry research and due diligence for the target corporations and raising funds. The board also announced that with effect from 10 March 2021, Mr. Huang Guang has been appointed as the non-executive Director. Mr. Huang Guang, aged 45, Mr. Huang was responsible officer for type 9 (asset management) regulated activities in Hong Kong Broad Capital Limited from June 2018 to October 2020. From April 2016 to April 2018 and from August 2016 to April 2018, he was responsible officer for type 9 (asset management) regulated activities and type 4 (advising on securities) regulated activities, respectively, in P.B. Global Asset Management Limited. He was a member of the investment committee and the general manager of the quantitative investment department of Pacific Assets Management Co. Ltd., where he was mainly responsible for investment management from August 2013 to May 2017. During the period from August 2010 to April 2013, Mr. Huang served as the head of investment research of JT Capital Management Limited, where he was mainly responsible for investment management and investment strategy research, and was responsible officer for type 9 (asset management) regulated activities in the same company from October 2010 to April 2013. He was an investment manager in proprietary trading division and vice president in global wealth management division of the headquarters of JP Morgan Chase Co., a company whose shares are listed on the New York Stock Exchange, where he was mainly responsible for global allocation strategy and investment portfolio construction, from April 2007 to August 2010. From April 2006 to April 2007, Mr. Huang served as an investment analyst at GIC Private Limited (formerly known as Government of Singapore Investment Corporation) New York Office, where he was mainly responsible for investment analysis and investment strategy research.