On April 5, 2022, the Company's Board member and Chairman of the Board of Directors Mr. Yongquan Bi submitted his resignation to the Board of Directors (the “Board”) due to personal reasons. There was no disagreement between the Company and Mr. Bi. The Board accepted the resignation and appointed Mr. Guangqiang Chen to fill the vacancy on April 5, 2022.

Mr. Chen, the Chief Technology Officer since 2003, was a geological engineer for the Fourth Oil Extraction Plant of Huabei Oil Field from 1985 through 1993.