The board of directors of Polyard Petroleum International Group Limited announced that Mr. Zhao Zhiyong has been appointed as executive director and new chairman of the Board of the company with effect from 25 August 2017. Mr. Kuai Wei, the existing chairman of the Board, will remain as executive director of the Company. Mr. Zhao, holds a doctoral degree of economics, majoring in monetary banking from the Southwestern University of Finance and Economics. He has over 35 years of experience in the profession of banking and finance, investment and business management. He previously worked for People's Bank of China. He also held various positions as General Manager in the securities and fund custodian department and Branch President of Industrial and Commercial Bank of China. He was the Chairman of China Huamao Investment Limited and President of Huamao Fund Management Corporation Limited. He is currently the President of China Wheat (Shenzhen) Equity Investment Fund Management Limited. The Board announced that Mr. Lin Zhang, the executive director, has been appointed as deputy chief executive officer of the Company with effect from 25 August 2017. He will be assisting the chief executive officer in the overall running of the Group's business and implementation of the Group's strategies as formulated by the Board from time to time in achieving the overall commercial objectives.