The board of directors of China Billion Resources Limited announced that Mr. Zhang Yiwen has tendered his resignation as an executive director of the Company (“Executive Director”) and an authorised representative of the Company (“Authorised Representative”) with effect from the conclusion of the Board meeting held on 3 June 2021 due to his other work engagement. The Board announced that: Mr. Zhu Shengsheng (“Mr. Zhu”) has been appointed as an Executive Director with effect from the conclusion of the Board meeting held on 3 June 2021; and Mr. Xie Qiangming, an Executive Director, has been appointed as an Authorised Representative with effect from the conclusion of the Board meeting held on 3 June 2021. Mr. Zhu Shengsheng has extensive experiences in energy and finance industry, and has years of experience in corporate development, commodity trade, mergers and acquisitions, equity investments and finance. Mr. Zhu served as director and president of Baota Petrochemical (HK) Co. Ltd. from 2011 to 2013. Mr. Zhu has been the president of Hongkong Energy Group Investment Limited since 2013.