The board of directors of China Ocean Group Development Limited announced that with effect from 31 January 2024 (after trading hours), Mr. Liu Qiang (Mr. Liu) has resigned as an independent non-executive director and member of the audit committee of the Company as he would like to devote more time and dedication to his other business commitments. The Board announced that with effect from 31 January 2024, Mr. Chen Shenxiu (Mr. Chen) has been appointed as an independent non-executive director, a member of the Audit Committee and remuneration committee of the Company ("Remuneration Committee") and Mr. Yang Ying ("Mr. Yang") has been appointed as an independent non-executive director and a member of the Audit Committee. Mr. Chen Shenxiu, aged 68, graduated from the Party School of Shantou City, Guangdong Province.

He is currently the president of the Guangdong National Chamber of Commerce Philippines Corporation in Philippines and the president of the Philippines Chaoshan Chamber of Commerce Inc. Mr. Chen actively participates in social activities and currently serves as the founding president of the Philippines Chaoshan Chamber of Commerce Inc, director of the Philippines Overseas Chinese Charity Association, the 34th president of the Philippines Chaoshan Association 34, honorary president of Shantou Overseas Friendship Association and Jieyang Overseas Friendship Association Honorary president, honorary president of Chaozhou Overseas Chinese Federation, honorary president of American Chaoshan Chamber of Commerce, onorary president of Shenzhen Chaoshan Chamber of Commerce and various other positions. Mr. Chen is a Filipino overseas Chinese who loves his motherland and actively promotes Sino-Philippine friendship and economic development. He has participated in the welcome and reception activities of Chinese state leaders who visited the Philippines and has a good relationship with the Philippine government in order to promote Sino-Philippine friendship and economic development.

Mr. Yang Ying, aged 65, graduated from Guangzhou Normal University and is currently a professor at the School of Economics of Jinan University. He is currently a counselor of the Guangdong Provincial Government. Mr. Yang actively participates in social activities and participates in political affairs.

He has more than 40 years of experience in the fields of education and economics and concurrently serves as the vice president of the Guangdong Provincial Old Professors Association, the president of the Economic and Management Branch, Vice President of the Think Tank of the Guangdong Provincial Economic and Scientific Development Promotion Association, Vice President of the Guangdong Society of Social Work, Executive Vice President and Secretary-General of the China Open Area Guangzhou Research Association, Executive Vice President of the Guangdong Economic and Science and Technology Development Research Association, Vice President of the Guangdong Comprehensive Economic Research Association President and editor-in-chief of "Comprehensive Economics" magazine, vice president of the Guangdong County Economic Research and Development Promotion Association, member of the Urban Planning Committee (Architecture and Environmental Art Committee) of the Guangzhou Municipal People's Government, and policy consulting expert of Nanhai District . He served as a member of the 11th and 12th Guangdong Provincial People's Congress, member of the Standing Committee, and member of the Legislative Affairs Committee, member of the 9th Guangdong Provincial Committee of the Chinese People's Political Consultative Conference . Mr. Yang has presided over and participated in the research work of national- level projects.

He has published works such as "New Theory of Hong Kong Economy", "Research on the Joint Development of Hong Kong, Macao and Zhuhai", "Introduction to the Transformation of Scientific and Technological Achievements", "Practice and Prospects of Zhuhai's Foreign Economic and Trade", and published more than 100 academic papers. The board of directors announced that, with effect from 31 January 2024, Mr. Chen Jianchang ("Mr. Chen") has been appointed as a non-executive Director of the Company. Mr. Chen Jianchang, aged 61, graduated from Hunan Agricultural University with a bachelor's degree in animal husbandry.

Mr. Chen once served as a cadre of the Ministry of Agriculture, deputy director of the Hunan Provincial Planning Commission, executive deputy general manager of the Hunan Provincial Economic Construction Investment Company, deputy director of the Hunan Provincial Grain Bureau, party secretary of the Hunan Energy Regulatory Commissioner's Office, party secretary and director of the Southern Energy Regulatory Bureau, Vice Chairman of China Energy Construction Holding Group and other positions. Mr. Chen is familiar with agriculture, energy and economic management, and has accumulated nearly 30 years of experience in the fields of agriculture, energy and economic management. He has broad knowledge, pragmatic work ability, decent style, and relatively comprehensive professional management capabilities.