The board of directors of E-Commodities Holdings Limited announced that Mr. Li Jianlou ("Mr. Li") has tendered his resignation as an executive director of the Company with effect from 30 July 2021 since he is approaching the statutory retirement age. Since then, Mr. Li will serve as a senior consultant of the Company, to share his work experience and cultivate young employees in order to provide human resources for the development of the Company. Mr. Li has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that need to be brought attention to the shareholders of the Company. The Board announced that Mr. Zhao Wei ("Mr. Zhao") has been appointed as an executive Director with effect from 30 July 2021. Mr. Zhao Wei, aged 51, is currently the vice president of the Company. Mr. Li joined the Group in 2016 and was appointed as the vice president of the Company in January 2021, and is currently responsible for the cross-border transportation, domestic warehousing and transportation in relation to import of Mongolian coal. Mr. Li also serves as a director and general manager of Inner Mongolia E- 35 Technology Co. Ltd., a subsidiary of the Company. Inner Mongolia E-35 and its subsidiaries are mainly engaged in the commodity logistics business of the Group. Mr. Zhao also serves as the director and general manager of certain subsidiaries of the Company. Prior to joining the Group, Mr. Zhao served as, among others, assistant engineer, engineer, manager of business development department and general manager of Jinan Railway Bureau, Han Ji Railway Co. Ltd. and Qingdao Bao Han Transportation and Trading Co. Ltd. during the period from 1992 to 2009; and held positions in Lung Ming Mining Co. Ltd. during the period from 2009 to 2016, which were mainly responsible for the construction and improvement and operation management of mining railways, as well as the domestic circulation and sales of iron ore. Mr. Zhao has over 29 years of experience in logistics management and corporate operations. Mr. Zhao graduated from Lanzhou Jiaotong University in 1992 with a bachelor's degree in engineering. The Company entered into a service contract with Mr. Zhao for a term of 3 years commencing from 30 July 2021 regarding the appointment of Mr. Zhao as an executive Director. Mr. Zhao will hold the office until the next following annual general meeting of the Company after his appointment and will be subject to re-election at that meeting and thereafter in accordance with the amended and restated articles of association of the Company. Mr. Zhao does not hold any directorships in other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years. Save as disclosed above, Mr. Zhao does not hold any other position with the Company or its subsidiaries. As at the date of this announcement, Mr. Zhao does not have any relationship with any director, senior management, substantial shareholder or controlling shareholder of the Company. Ms. Cao Xinyi has resigned as a member of each of the Nomination and Corporate Governance Committee; Ms. Di Jingmin has been appointed as a member of the Nomination and Corporate Governance Committee. Such change in composition of the committee of the Board shall take effect from 30 July 2021. With effect from 30 July 2021, the four committees of the Board will comprise: Audit Committee: Mr. Ng Yuk Keung (chairman), Mr. Wang Wenfu and Mr. Gao Zhikai; Remuneration Committee: Mr. Wang Wenfu (chairman), Mr. Ng Yuk Keung and Ms. Cao Xinyi; Nomination and Corporate Governance Committee: Mr. Gao Zhikai (chairman), Mr. Ng Yuk Keung and Ms. Di Jingmin; Health and Safety and Environmental Committee: Mr. Wang Yaxu (chairman), Mr. Wang Wenfu and Mr. Gao Zhikai.