The board of directors of Shandong Molong Petroleum Machinery Company Limited announced that Mr. Zhang En Rong has resigned as an executive Director and the Chairman of the Company (the "Chairman"), and Mr. Yang Jin ("Mr. Yang") has resigned as an executive Director and the Deputy General Manager of the Company, both with effect from 25 June 2018. Mr. Zhang has taken this decision due to health reasons and Mr. Yang has taken this decision due to health reasons and focus on other business opportunities.