China Ocean Industry Group Limited announces that Mr. Xu Dawei ("Mr. Xu") resigned as an authorized representative ("Authorized Representative") and an executive director of the Company with effect from 10 February 2023, as he plans to devote more attention and dedication to his other business engagement. Mr. Xu Dawei has confirmed to the Board that there is no disagreement with the Board and the Company and there is no matter in respect of his resignation which ought to be brought to the attention of The Stock Exchange of Hong Kong Limited and the shareholders of the Company. The Board further announces that Mr. Cao Yong ("Mr. Cao") has been appointed as an Authorized Representative in place of Mr. Xu Dawei with effect from 10 February 2023.

The Board also announces that with effect from 10 February 2023, Mr. Xu Conghui and Mr. Cao have been appointed as a member of the nomination committee and the remuneration committee of the Company respectively, in place of Mr. Xu Dawei. The Board would like to express its sincere appreciation to Mr. Xu Dawei for his valuable contribution to the Company during the tenure of his service of the Company.