The board of directors of Shengli Oil & Gas Pipe Holdings Limited announced that Mr. Zhang Liucheng has tendered his resignation as a co-chief executive officer of the Company with effect from 24 March 2024, for reason of personal career development. Upon resignation, Mr. Zhang will no longer hold any office or position in the Company, and Mr. Zhang Bizhuang will continue to serve as the chief executive officer of the Company. Mr. Zhang has confirmed that he has no disagreement with the Board; and there is no matter relating to his resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited and the shareholders of the Company.