The Board of Directors of Grand Ocean Advanced Resources Company Limited announced that Mr. Ren Hang ("Mr. Ren") has been appointed as an executive Director with effect from 23 July 2018. The Board announced that with effect from 23 July 2018, Mr. Zhang Fusheng ("Mr. Zhang") resigned as an executive Director and chief executive officer of the Company. Following his resignation, the former duties and responsibilities of Mr. Zhang as the chief executive officer would be performed by the existing management of the Group.

The Board announced that with effect from 23 July 2018, Mr. Ng Ying Kit ("Mr. Ng"), an executive Director, has been appointed as a member of each of the remuneration committee and nomination committee of the Company. The Board announced that with effect from 23 July 2018, Mr. Zhang has resigned as the authorised representative of the company under the Listing Rules (the "LR Authorised Representative") and the authorised representative of the Company under the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (the "CO Authorized Representative"); Mr. Ng, an executive Director has been appointed as the CO Authorized Representative; and Ms. Wan Shui Wah, the company secretary of the Company has been appointed as the LR Authorised Representative.