CM Energy Tech Co., Ltd. announces that Mr. Zhang Xizheng has been appointed as a non-executive Director with effect from 23 November 2023. The Board further announces that Mr. Sun Dongchang has resigned as an independent non- executive Director due to his other work commitments with effect from 23 November 2023. Mr. Zhang Xizheng, aged 27, holds a bachelor's degree in International Economics from Beijing Institute of Technology and a master's degree in Applied Economics from Hong Kong Baptist
University. He is a senior trust manager of the shipping investment management headquarters of China Minsheng Trust Co., Ltd. Mr. Zhang was a data analyst of the credit insurance department of Asia-Pacific Property and Casualty Issuance Co., Ltd. ("Asia-Pacific Property and Casualty Issuance") from September 2019 to May 2021, was a manager of the claims division of the credit insurance department of Asia-Pacific Property and Casualty Issuance from May 2021 to March 2022 and has been a senior trust manager of the shipping investment management headquarters of China Minsheng Trust Co., Ltd. since March 2022. Mr. Zhang has entered into an appointment letter with the Company for a term of three years from 23 November 2023. He is subject to retirement by rotation and re-election at the annual general meetings of the Company in accordance with the articles of association of the Company. Mr. Zhang will not receive any Director's fees nor other remuneration from the Company.
CM Energy Tech Co., Ltd., formerly CMIC Ocean En-Tech Holding Co., Ltd., is in the business of offshore wind power installation and operation and maintenance, clean green energy and core equipment technology, products, and services. The Company serves the oil and gas exploration industry, as well as offshore engineering asset management business. It provides drilling packages for entire offshore platforms and offers infrastructure solutions for production platforms, workover platforms, and other ancillary platforms required for offshore oil and gas fields after drilling Jack-up platform solutions. The Company also develops, designs, manufactures, installs and debugs almost all high-end equipment for various offshore drilling platforms or land drilling rigs. It provides drilling fluid circulation management system (EFMS) that enables zero slurry discharge during drilling. The Company also offers rig maintenance and repair supply and global rig services.