China BlueChemical : APPOINTMENT OF CHIEF EXECUTIVE OFFICER AND PRESIDENT AND PROPOSED APPOINTMENT OF DIRECTOR

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 3983)

APPOINTMENT OF CHIEF EXECUTIVE OFFICER AND PRESIDENT

AND

PROPOSED APPOINTMENT OF DIRECTOR

We refer to the announcement of the Company dated 28 May 2020 in relation to, among others, the resignation of Mr. Wang Weimin as the CEO and President.

The Board is pleased to announce that Mr. Hou Xiaofeng was appointed as the CEO and President with effect from 12 August 2020. His term of office will last till the date of re-appointment of a new CEO and President by the next session of the Board. Mr. Hou Xiaofeng will receive an aggregated basic remuneration of not higher than RMB1.5 million per annum during his term of office according to his qualifications, abilities, responsibilities and experience and with reference to relevant remuneration standard of the Company.

The Board also announces that it has received a supplemental proposal from China National Offshore Oil Corporation (''CNOOC''), the controlling shareholder of the Company directly holding approximately 59.41% of the issued Shares, for the first extraordinary general meeting of 2020 to be convened by the Company on 26 August 2020, nominating Mr. Hou Xiaofeng as an executive Director. A revised notice of the EGM containing the details of the proposed appointment together with a revised proxy form will be dispatched to the Shareholders in due course. Mr. Hou Xiaofeng's term of office as an executive Director will commence from the date on which his appointment is approved by the Shareholders and shall last until a new session of the Directors is approved by the Shareholders at the 2020 annual general meeting of the Company.

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Biographical details of Mr. Hou Xiaofeng are set out as follows:

Mr. Hou Xiaofeng, born in April 1976, graduated from Hefei University of Technology with a bachelor's degree in computer and applications in July 1997. In December 2007, he obtained a master's degree in finance from Capital University of Economics and Business. He was qualified as a senior engineer. From July 1997 to September 2001, he worked successively as a software engineer and network manager in information management department of CNOOC. From September 2001 to March 2015, he served successively as the information technology director, chief technology officer and chief engineer of CNOOC's information management department, and during this period, he worked concurrently as a member of CNOOC's ERP project preparation team and manager of the technology team from June 2004 to November 2009. From March 2015 to March 2018, he held the positions of chief engineer of information department of CNOOC and that of CNOOC Limited (a company listed on The Stock Exchange of Hong Kong Limited with stock code: 883 and whose American depository receipts are listed on the New York Stock Exchange with code: CEO and the Toronto Stock Exchange with code: CNU) as well as a team leader of CNOOC's ''Internet+'' joint work group, responsible for e-commerce, big data and network security, etc. From March 2018 to May 2020, he served as a member of CCP Standing Committee and Deputy Governor of Gannan Tibetan Autonomous Prefecture in Gansu Province, responsible for industry and informatization, agriculture and rural development, animal husbandry and veterinary medicine, supply and sale, and agricultural machinery, etc.

Subject to the approval of his appointment as an executive Director by the Shareholders, Mr. Hou Xiaofeng will enter into a service contract with the Company. The Board will be authorised by the Shareholders, and the remuneration committee of the Board will be further delegated the responsibility by the Board to determine remuneration of Mr. Hou Xiaofeng according to his qualifications, abilities, responsibilities and experience. After remuneration of Mr. Hou Xiaofeng is fixed by the remuneration committee of the Board, the Company will make an announcement accordingly.

Save as disclosed above, Mr. Hou Xiaofeng did not hold any other directorships in other listed companies in the past three years and he (i) had no relationship with any Directors, Supervisors, senior management or substantial or controlling Shareholders; (ii) had no interest in any Shares within the meaning of Part XV of the SFO; and (iii) held no other position with the Company or other members of the Group.

Save as disclosed above, Mr. Hou Xiaofeng has confirmed that there are no matters that need to be brought to the attention of the Shareholders, and there is no other information in relation to aforesaid appointment as the CEO and President and proposed appointment as an executive Director that is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules.

The Company would like to welcome Mr. Hou Xiaofeng on his appointment as the CEO and President.

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DEFINITIONS

In this announcement, the following expressions shall have the following meanings unless the context otherwise requires:

''Board''	the board of Directors
''CEO''	chief executive officer of the Company
''Company''	中海石油化學股份有限公司 (China BlueChemical Ltd.*), a
	company incorporated in the PRC, the H Shares of which are
	listed on The Stock Exchange of Hong Kong (stock code: 3983)
''Director(s)''	director(s) of the Company
''EGM''	the first extraordinary general meeting of 2020 to be convened by
	the Company on 26 August 2020
''Group''	the Company and its subsidiaries from time to time
''Listing Rules''	the Rules Governing the Listing of Securities on The Stock
	Exchange of Hong Kong Limited (as amended from time to
	time)
''President''	president of the Company
''SFO''	the Securities and Futures Ordinance (Chapter 571 of the Laws
	of Hong Kong)
''Shareholder(s)''	shareholder(s) of the Company
''Supervisor(s)''	supervisor(s) of the Company
	By order of the Board
	China BlueChemical Ltd.*
	WU Xiaoxia
	Company Secretary
Beijing, the PRC
12 August 2020

As at the date of this announcement, the executive director of the Company is Mr. Wang Weimin, the non-executive directors of the Company are Mr. Meng Jun and Mr. Guo Xinjun, and the independent non-executive directors of the Company are Ms. Karen Lee Kit Ying, Mr. Eddie Lee Kwan Hung and Mr. Yu Changchun.

• For identification purpose only.

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