The board of directors of China Billion Resources Limited announced that: Mr. Zhang Li has tendered his resignation as an executive director of the company ("Executive Director") due to his other work engagement; Mr. Zhang Jing has tendered his resignation as a non-executive director of the company ("NED") due to his other work engagement; and Mr. Zhang Wei has tendered his resignation as a NED due to his other work engagement. The resignations of Mr. Zhang Li, Mr. Zhang Jing and Mr. Zhang Wei have taken effect from the conclusion of the Board meeting held on 30 September 2019. The Board also announced that Mr. Xie Qiangming has been re-designated from an INED to an Executive Director and henceforth ceased to be the chairman of remuneration committee of the company ("Remuneration Committee") and a member of audit committee of the company ("Audit Committee") with effect from the conclusion of the Board meeting held on 30 September 2019. The Board announced that Mr. Yan Xiaotian has been appointed as an INED with effect from the conclusion of the Board meeting held on 30 September 2019. Upon his appointment as an INED, Mr. Yan has also been appointed as a member and the chairman of the Remuneration Committee and a member of nomination committee of the company ("Nomination Committee") and Audit Committee. Mr. Yan Xiaotian, has extensive experience in economic, financing and management. Mr. Yan served as the president of the head office of Bank of China Limited, the vice president of CITIC Bank Corporation Limited (formerly known as CITIC Industrial Bank Limited), Guangzhou branch, China, the general manager of CITIC Securities Co. Ltd. (Guangzhou), and a director and an executive president of South China International Leasing Co. Ltd.