The board of directors of China Ocean Industry Group Limited announced that Mr. Li Ming has tendered his resignation as the chairman of the Board and executive Director of the company with effect from 20 July 2021, as he plans to devote more attention and dedication to his other business engagement. The Board also announced that, with effect from 20 July 2021, Mr. Zhang Shi Hong, an executive Director and chief executive officer, has been appointed as the Chairman.