The board of directors of China Overseas Grand Oceans Group Limited announced that Mr. Wang Man Kwan, Paul, being advanced in retirement age, has decided to retire as Executive Director of the company with effect from the conclusion of the Board meeting of the Company held on 21 April 2023. The Board also announced that, at the recommendation of the Nomination Committee of the Company, Mr. Zhou Hancheng has been appointed as Executive Director and Vice President of the Company with effect from the conclusion of the Board meeting of the Company held on 21 April 2023. Mr. Zhou, aged 53, graduated from Shanghai University of Finance and Economics and obtained a degree of Master of Business Administration from The University of Sheffield (UK).

He is a fellow of the Association of Chartered Certified Accountants and a member of the Hong Kong Institute of Certified Public Accountants. He was an executive director and financial controller of China State Construction International Holdings Limited during the period from June 2005 to April 2023. He has over 31 years' experience in corporate finance, financial accounting and investment management.