The Board of Shandong Molong Petroleum Machinery Company Limited announced that with effect from 8 October 2023: Mr. Li Zhi Xin has resigned as the General Manager due to re-allocation of duties within the Company and has been appointed as the deputy general manager of the Company; and Mr. Yao You Ling has been appointed as the General Manager. Mr. Yao You Ling (), male, Chinese, born in July 1963, aged 60, is a member of the Communist Party of China, a holder of doctoral degree in engineering, and a researcher of engineering technology application. He was the deputy factory manager of the steel rolling plant and factoru manager of the thin plate plant of Laiwu Iron and Steel Group Yinshan Section Steel Co.

Ltd. ("Laigang Steel"), the deputy chief of the command department for the technical transformation project of Laigang Steel and later the chief of the same department and a member of the Party Committee. Mr. Yao was a standing deputy general manager of Rizhao Steel Holding Group Co. Ltd., a director and deputy general manager of Luyin Investment Group Co.

Ltd. (a company whose shares are listed on the Shanghai Stock Exchange) and a visiting professor of Anhui University of Technology. He is currently an executive Director and was a non-executive Director and the deputy general manager of the Company.