The board of directors of the Hilong Holding Limited announced that Mr. Zhang Jun has been re-designated from the chief executive officer of the company to the executive chairman of the company, and will continue to serve as the chairman of the board, the executive director and the authorized representative of the company with effect from 15 December 2017. The re-designation is due to the fact that Mr. Zhang would like to delegate the daily operation of the Group to Mr. Wang Tao and focus his energy on the overall strategic planning of the Group, new market development, and capital market related and investor relations management. As the chief executive officer, Mr. Zhang was responsible for the overall business operations and strategy formulation of the company.

He also serves as director of Hilong Group of Companies Ltd., director of Hilong Marine Engineering (Hong Kong) Limited and director of Hilong Petroleum Marine Engineering Technical Services (Hong Kong) Limited. Mr. Zhang also serves as director senior management of various subsidiaries of the Group. The Board announced that Mr. Wang Tao has been appointed as the chief executive officer of the Company in place of Mr. Zhang with effect from 15 December 2017.

Mr. Wang Tao is an executive director and a member of the Nomination Committee of the Company. He was appointed as a non-executive director of the Company on 2 December 2010 and was re-designated as an executive director of the Company on 29 March 2012. The Board announced that Mr. Dai Daliang has been appointed as the executive president of the Company with effect from 15 December 2017.

Mr. Dai Daliang, has been a director of Hilong Drilling & Supply FZE since 2010.