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CHINA HUARONG ENERGY COMPANY LIMITED

中國華榮能源股份有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 01101)

RESIGNATION OF DIRECTORS AND CHANGE IN THE COMPOSITION OF BOARD COMMITTEES

The board of directors (the "Board") of China Huarong Energy Company Limited (the "Company", together with its subsidiaries, the "Group") announces that (i) Mr. Wu Zhen Guo ("Mr. Wu") has resigned as an executive director and the vice chairman of the Company due to health reasons and his retirement; and (ii) Mr. Hu Wei Ping ("Mr. Hu") has resigned as an independent non-executive director of the Company to devote more time to other business commitments, both with effect from 1 July 2015.
Both Mr. Wu and Mr. Hu have confirmed that they do not have any disagreement with the Board and there is no matter relating to their resignation which needs to be brought to the attention of the shareholders of the Company.
The Board further announces that Mr. Wu will also cease to be a member of the remuneration committee of the Company and Mr. Hu will also cease to be a member of each of the audit committee, the corporate governance committee and the nomination committee of the Company and the chairman of the remuneration committee of the Company upon their resignation as directors of the Company with effect from 1 July 2015.
The Board further announces that Ms. Zhou Zhan, an independent non-executive director of the Company, has been appointed as the chairman of the remuneration committee of the Company in place of Mr. Hu with effect from 1 July 2015.
The Board would like to take this opportunity to express its sincere gratitude to Mr. Wu and Mr. Hu for their valuable contribution to the Group during their tenure of services and appointment.
By Order of the Board

China Huarong Energy Company Limited LEE Man Yee

Company Secretary

Hong Kong, 26 June 2015

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As at the date of this announcement, the directors of the Company are:

Executive directors:

Mr. CHEN Qiang (Chairman), Mr. WU Zhen Guo, Mr. HONG Liang, Mr. Sean S J WANG, Mr. WANG Tao, Mr. WEI A Ning and Ms. ZHU Wen Hua;

Independent non-executive directors:

Mr. XIA Da Wei, Mr. HU Wei Ping, Mr. WANG Jin Lian and Ms. ZHOU Zhan.

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