Shengli Oil & Gas Pipe Holdings Limited announced that, with effect from 9 August 2012, Yan Tangfeng has resigned as the chairman of the Board in order to focus on his other business engagement which requires more of his time and dedication, but will remain as a non-executive Director. The Board announced that Zhang Bizhuang, an executive Director and the chief executive officer of the company, has been appointed as the chairman of the Board in place of Mr. Yan. The Board announces that Wang Xu has resigned as an executive Director with effect from 9 August 2012, due to the readjustment of his responsibilities, but he will remain as a member of the senior management team of the company.

The Board announced that Jiang Yong has been appointed as an executive Director in place of Mr. Wang, as well as a vice president of the company, with effect from 9 August 2012. In his role as an executive Director and a vice president of the company, Mr. Jiang, aged 45, will be primarily responsible for the company's finance and investment. Prior to joining the company, he served as a director of Shandong Demian Incorporated company, from January to June 2012.