The board of directors of IPE Group Limited announced that, with effect from 1 June 2019, Mr. Chen Kuangguo has been appointed as a non-executive Director; and Mr. Xu Bing has been appointed as an independent non-executive Director, and a member of each of the audit committee, remuneration committee and nomination committee of the Company. Mr. Chen joined China Baoan Group Co. Ltd. in July 2006. Mr. Chen served as a senior project manager at a subsidiary of Baoan Group, and he is currently the executive deputy general manager of its financial investment department and the executive director of the thirteenth board of directors. Mr. Xu holds various positions, including the director of Chinese Mechanical Engineering Society and the deputy chairman of the branch of the Fluid Transmission and Control Society of CMES; the director of China Construction Machinery Society and the vice chairman of the branch of the Extraordinary Engineering Transportation Vehicle Society of CCMS; the member of the Fluid Transmission and Control Professional Committee of Chinese Society of Aeronautics and Astronautics; the member of the Expert Committee of China Hydraulics Pneumatics & Seals Association; the director of the International Standardization Committee of the National Hydraulic and Pneumatic Standardization Technical Committee. From September 2016, Mr. Xu served as an independent director at Jiangsu Hengli Hydraulic Co. Ltd.