Silk Road Energy Services Group Limited announced that with effect from 1 January 2023, (i) Mr. Li Xianghong ("Mr. Li") has resigned as an executive director of the Company and co-chairman ("Co-Chairman") of the Company; and (ii) Mr. Cai Da ("Mr. Cai") has been re-designated from the Co-Chairman to the chairman of the Company ("Chairman"). Mr. Li has tendered his resignation as an Executive Director and Co-Chairman with effect from 1 January 2023, in order to devote more time to his other business engagements. Mr. Cai, aged 47, joined the Company as an Executive Director on 16 May 2013.

He is currently the chairman of nomination committee of the Company and a member of remuneration committee of the Company. Mr. Cai holds a bachelor's degree in civil engineering from Hunan University of Science and Technology in the PRC. Mr. Cai then obtained a master's degree in business administration from Bangor University in Wales, the United Kingdom in January 2016.

In June 2017, Mr. Cai obtained a doctorate of business administration in Management from the INSEEC Group in Paris, France, which is a programme jointly organised with the Research Institute of Tsinghua University in Shenzhen, PRC. Mr. Cai has also been the vice president of the Shenzhen General Chamber of Commerce since June 2012. He is currently a director of certain subsidiaries of the Group.

Mr. Cai had extensive working experience in various private companies from different business sectors in Hong Kong and PRC, including among others, mining and energy, real estate and tourism.