The board of directors of Hong Kong Resources Holdings Company Limited informed the shareholders and potential investors of the company that in the Board meeting held on 4 October 2019, resolutions had been passed to authorise Mr. Li Ning and Mr. Hu Hongwei, both being executive directors; and Dr. Loke Yu alias Loke Hoi Lam and Mr. Fan, Anthony Ren Da, both being independent non-executive Directors, to form a special investigation committee to undertake investigation on matters pertaining to 14 defaulting loans provided by Prosten Finance Limited. The Board announced that, with effect from 4 October 2019, Mr. Xu Zhigang has been re-designated as a non-executive Director and resigned as the chief executive officer of the company.