The board of directors of China Huarong Energy Company Limited announced that Mr. Wu Zhen Guo has resigned as an Executive Director and the Vice Chairman of the company and Mr. Hu Wei Ping has resigned as an Independent Non-Executive Director of the company, both with effect from 1 July 2015. The Board further announced 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 announced 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.