China Chengtong Development Group Limited announced that Mr. Wang Daxiong has been appointed as a non-executive director and a member of the Audit Committee of the Company, both of which will take effect from 1 July 2022. The Board also announces that it has resolved to establish an ESG Committee with effect from 1 July 2022. Upon the establishment of the ESG Committee, Mr. Wang Daxiong will act as the chairman of the committee, and Mr. Yang Tianzhou and Professor He Jia will act as the members of the committee, all of which will take effect from 1 July 2022. Mr. Wang, aged 61, obtained a bachelor's degree in economics, majoring in shipping finance and accounting, from Shanghai Maritime University in 1983 and a master's degree in business administration for senior management from Shanghai University of Finance and Economics in 2012. He is a Senior Accountant. Mr. Wang has nearly 40 years of experience in the shipping industry. He worked in Guangzhou Shipping Bureau of the Ministry of Transport of the People's Republic of China from August 1983 to January 1996 mainly responsible for finance matters and afterwards in Guangzhou Shipping (Group) Co. Ltd. as the head of finance department and chief accountant until January 1998. From January 1998 to March 2014, Mr. Wang served various positions in China Shipping (Group)Company successively, including chief accountant, vice president and deputy general manager. During the period from August 1997 to March 2014, Mr. Wang had been an executive director of China Shipping Development Company Limited (currently known as COSCO SHIPPING Energy Transportation Co. Ltd.) (a company listed on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK") and the Shanghai Stock Exchange ("SSE") with stock codes
01138 and 600026 respectively). In addition, Mr. Wang acted as a non-executive director of China Merchants Bank Co. Ltd. (a company currently listed on the Main Board of the SEHK and on the SSE with stock codes 03968 and 600036 respectively) during the period from 1998 to 2014 and also subsequently from November 2016 to the present. Mr. Wang had been a non-executive director of COSCO SHIPPING Development Co. Ltd. (a company listed on the Main Board of the SEHK and on the SSE with stock codes 02866 and 601866 respectively) from 2004 to 2014 and had subsequently acted as its executive director and chairman of the board of directors since May 2016 until his resignation on 16 June 2022. He also acted as a non-executive director of China Merchants Securities Co. Ltd. (a company listed on the Main Board of the SEHK and on the SSE with stock codes 06099 and 600999 respectively) from September 2016 to May 2022. In May 2022, Mr. Wang was appointed as an independent director of (unofficial English name being Chengtong Securities Co. Ltd.), which is a non-wholly owned subsidiary of the Company's ultimate holding company, China Chengtong Holdings Group Limited. Pursuant to the proposed appointment letter to be entered into between Mr. Wang and the Company, Mr. Wang will be appointed as a NED for a term of one year commencing from 1 July 2022, subject to retirement by rotation and re-election and other related provisions as stipulated in the articles of association of the Company and the Rules Governing the Listing of Securities on the Stock Exchange.