The board of directors of Grand Ocean Advanced Resources Company Limited announced that Mr. Ren Hang has resigned as an executive Director with effect from 9 December 2020 due to his other personal business engagements and family matters which require more of his attention and dedication. Mr. Ren has confirmed that he has no disagreement with the Board and there is no matter in respect of his resignation. The Board announced that Mr. Zhou Hongliang has been appointed as a non-executive Director of the Company with effect from 9 December 2020. Mr. Zhou, has over 20 years experiences in the management of mining and resources related business, commodities trading business and venture capital investment. Mr. Zhou served as a special assistant to the Chairman of VV Food & Beverage Co. Ltd. From 1999 to 2003 and an executive director in Western Mining Co. Ltd. from 2003 to 2014. Mr. Zhou is currently a partner of Shanghai NewMargin Venture Capital Co. Ltd. since 2010.