The board of directors of Shengli Oil & Gas Pipe Holdings Limited announced that, with effect from 12 April 2016, Mr. Zhang Bizhuang resigned as the chairman of the Board due to the change of work positions. Mr. Zhang will remain in his office of executive Director and chief executive officer of the company, member of the nomination committee and the remuneration committee of the company. The Board announced that, with effect from 12 April 2016, Mr. Guo Changyu resigned from his office of independent non-executive Director, the chairman of the nomination committee and the member of the audit committee of the Company due to his personal work arrangement.

The Board announced that, with effect from 12 April 2016, Mr. Ji Rongdi has been appointed as the chairman of the Board and an executive Director, and served as the chairman of the nomination committee of the company. The Board further announced that Mr. Qiao Jianmin has been appointed as an independent non-executive Director and a member of the audit committee of the Company, with effect from 12 April 2016.