The board of directors of China Billion Resources Limited announced that Mr. Qiao Bingya has tendered his resignation as company's executive director (executive director), chairman of the board, authorized representative under Rule 3.05 of the Rules Governing the Listing of Securities on the Stock Exchange ("Listing Rules") and authorized representative for accepting service of process and notices on behalf of the Company in Hong Kong under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (collectively referred to as Authorized Representative) with effect from the conclusion of the Board meeting held on 2 September 2021 due to his other work engagement. Upon his resignation, Mr. Qiao also ceased to be a member and chairman of the nomination committee of the Company (Nomination Committee). Mr. Qiu Zhenyi (Mr. Qiu) has been appointed as an executive director with effect from the conclusion of the board meeting held on 2 September 2021. Upon his appointment, Mr. Qiu has also been appointed as the Chairman and a member and the chairman of the Nomination Committee; Mr. Pan Feng (Mr. Pan) has been appointed as an executive director with effect from the conclusion of the board meeting held on 2 September 2021; and Mr. Zhu Shengsheng (Mr. Zhu), an executive director and an authorized representative with effect from the conclusion of the Board meeting held on 2 September 2021. Mr. Qiu Zhenyi has extensive senior management experiences in corporate strategy formulation, development and management. Mr. Qiu is currently an executive deputy vice president and/or executive director of certain private financial, energy and trading companies. Mr. Pan Feng, has extensive experiences in sales management, investment promotion and business operation. Mr. Pan served as the investment operation executive officer of Tianjin Tianbao Infrastructure Co. Ltd. from 2011 to 2020. Mr. Zhu Shengsheng has been an executive director since June 2021.