CMIC Ocean En Tech : (1) APPOINTMENT AND RESIGNATION OF DIRECTORS (2) RESIGNATION AND APPOINTMENT OF CHAIRMAN AND CEO AND (3) CHANGE OF BOARD COMMITTEE MEMBERS

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CMIC Ocean En-Tech Holding Co., Ltd.

華商國際海洋能源科技控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 206)

1. 1. APPOINTMENT AND RESIGNATION OF DIRECTORS
2. RESIGNATION AND APPOINTMENT OF CHAIRMAN AND CEO AND
3. 1. CHANGE OF BOARD COMMITTEE MEMBERS

APPOINTMENT AND RESIGNATION OF DIRECTORS

Resignation of Director

The board (the "Board") of the directors of CMIC Ocean En-Tech Holding Co., Ltd. (the "Company") announces that Mr. Wang Hongyuan has resigned as an executive director (the "Director") of the Company due to other commitments with effect from 19 February 2020.

Mr. Wang Hongyuan confirmed that he has no disagreement with the Board and there are no other matters in relation to his resignation that need to be brought to the attention of the shareholders of the Company.

The Board of the Company would like to take this opportunity to express its gratitude to Mr. Wang Hongyuan for his contributions to the Group during his term of office.

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Appointment of Director

The Board announces that with effect from 19 February 2020,

Mr. Cong Yongjian has been appointed as an executive Director of the Board of the Company.

CHANGE OF BOARD COMMITTEE MEMBERS

The Board announces that with effect from 19 February 2020,

1. Mr. Wang Hongyuan has resigned as the chairman of the Nomination Committee and a member of the Remuneration Committee of the Company; and
2. Mr. Lou Dongyang has been appointed as the chairman of the Nomination Committee and a member of the Remuneration Committee of the Company.

The biographical details of Mr. Lou Dongyang are set out below:

Mr. Lou Dongyang, aged 44, has been appointed as a non-executive Director since April 2018. He is also the chief financial officer of China Merchants Industry Holdings Co., Ltd. Mr. Lou served as an engineer in the Chemical Engineering Office of the Institute of Standardization of Nuclear

Industry and as secretary-general for the National Technical Committee for Standardization of Radioisotopes (全國放射性同位素標準化技術委員會) from July 1997 to October 2001,

as an engineer in the Planning Department in China Isotope Company from October 2001 to August 2003, as a specialist of the board of supervisors for Key Large State-Owned Enterprises under the State Council from August 2003 to August 2004, as deputy head of the board of supervisors for Key Large State-Owned Enterprises under the State Council from September 2008 to September 2012, as an assistant to the department director of the intellectual property administrative department of China Merchants Group Limited ("CM Group") from September 2012 to May 2015, as an assistant to the department director of the finance department (intellectual property department) of CM Group from May 2015 to October 2015, and as a deputy department director of the finance department (intellectual property department) of CM Group from October 2015 to November 2017. Mr. Lou obtained a bachelor's degree in applied chemistry from Peking University in 1997 and a master's degree in business administration also from Peking University in 2002.

The biographical details of Mr. Cong Yongjian are set out below:

Mr. Cong Yongjian, aged 44, is an attorney admitted in the PRC and New York, the United States of America. He has over 15 years of special situations investments and legal practice experience and extensive experience in cross-border acquisitions, private equity investments, mezzanine financing, debt restructuring, asset restructuring and other special situations investments.

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Mr. Cong has been the person in charge of China Merchants Capital Marine Industry Fund (招 商局資本海洋產業基金) since 2013. From 2011 to 2013, he was one of the founding members

of China Development Bank International Holdings Ltd ("CDBI"), where he served in the Investment Committee and was in charge of fund department and legal department. At CDBI, Mr. Cong led the equity investment amounting to US$200 million to Alibaba Group as well as many privatization transactions of Chinese concept stocks listed overseas. In addition, as the person in charge of the fund department of CDBI, he directly led the foundation of certain USD or RMB funds with a total size over US$5 billion.

From 2005 to 2010, he worked in the special situations investment department in J. P. Morgan, Standard Chartered Bank and other foreign financial institutions, and was mainly engaged in private equity investments, real estate investments, mezzanine financing, acquisition and disposal of non-performing assets and other special situations investments. During that period, he participated in debt restructuring, financing and acquisition transactions of a number of real estate projects in Beijing, Shanghai, Dalian, Chongqing, etc., and as the key person in charge participated in stripping, restructuring and acquisition of non-performing assets of financial institutions such as China Huarong Asset Management Co., Ltd and Maybank in Malaysia. Mr. Cong obtained degrees of Master of Laws from both University of International Business and Economics in PRC and Cornell University in the United States of America. Moreover, he was an independent non-executive director of Sunway International Holdings Limited (stock code: 00058HK) from 14 August 2015 to 6 June 2019.

Pursuant to the appointment contracts (the "Appointment Contracts") entered into by the Company with Mr. Lou Dongyang and Mr. Cong Yongjian, the term of appointment of each of Mr. Lou Dongyang and Mr. Cong Yongjian is three years with effect from 19 February 2020 which can be terminated by a three months' prior notice in writing served by either party on the other. They shall be subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the articles of association of the Company and the Listing Rules. Mr. Cong Yongjian is subject to re-election at the first annual general meeting of the Company after his appointment. Pursuant to the Appointment Contracts, Mr. Lou Dongyang and Mr. Cong Yongjian will not receive any remuneration during the terms as Directors.

Save as disclosed above, Mr. Lou Dongyang and Mr. Cong Yongjian have not held any other position with the Company or its subsidiaries nor do them have any relationship with other Directors, senior management, substantial shareholders or controlling shareholders (as defined in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules")) of the Company, and Mr. Lou Dongyang has not held any other directorship in any listed companies in the past three years. As at the date of this announcement, Mr. Lou Dongyang and Mr. Cong Yongjian do not have any interest in the Company or its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

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Save as disclosed above, there is no other information in relation to the re-designation of Mr. Lou Dongyang and the appointment of Mr. Cong Yongjian which is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules nor are there any other matters that need to be brought to the attention of the shareholders of the Company.

The Board would like to take this opportunity to welcome Mr. Lou Dongyang and Mr. Cong Yongjian to the new positions in the Company.

RESIGNATION AND APPOINTMENT OF CHAIRMAN AND CEO

The Board announces that with effect from 19 February 2020,

1. Mr. Wang Hongyuan has resigned as the chairman of the Board and CEO of the Company;
2. Mr. Lou Dongyang has been appointed as the chairman of the Board; and
3. Mr. Cong Yongjian has been appointed as CEO of the Company.

By Order of the Board

CMIC Ocean En-Tech Holding Co., Ltd.

Jiang Bing Hua

Co-Chairman

Hong Kong, 19 February 2020

As at the date of this announcement, the Board comprises three executive Directors, namely Mr. Jiang Bing Hua, Mr. Zhang Menggui, Morgan and Mr. Cong Yongjian; four non-executive Directors, namely Mr. Wang Jianzhong, Mr. Lou Dongyang, Ms. Fu Rui and Mr. Qian Zewei; and four independent non-executive Directors, namely Mr. Chan Ngai Sang, Kenny, Mr. Zou Zhendong, Mr. Chen Weidong and Mr. Sun Dongchang.

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