Tianjin Tianbao Energy Co., Ltd. at the EGM held on January 17, 2020 appointed Wang Xiaotong as a non-executive Director; and Chan Wai Dune as an independent non-executive Director. Mr. Mao Yongming, Mr. Wang Xiaotong and Mr. Chan Wai Dune are elected and appointed as Directors of the second session of the Board. Upon the conclusion of the EGM, Mr. Yu Yang and Mr. Lau Tsz Bun have retired from their positions as a non-executive Director and independent non-executive Director of the first session of the Board, respectively, due to their respective other career development. Mr. Chan Wai Dune also appointed as chairman of audit committee, Mr. Han Xiaoping as chairman of remumeration committee, Mr. Mao Yongming and Ms. Yang Ying as members of remuneration committee.