ENN Energy Holdings Limited announces that Mr. ZHENG Hongtao has decided not to renew his service contract with the Company after its expiry due to his intention to devote more time to his personal commitments and tendered his resignation from the position as an executive director and the Executive Chairman of the Company, and hence ceased to act as the chairman of the risk management committee and a member of the nomination committee of the Board with effect from 12 December 2023. On the same date, due to re-designation of duties, Ms. WU Xiaojing ceased to be an executive director and the Chief Executive Officer of the Company, as well as a member of the risk management committee of the Board. Mr. ZHANG, aged 50, graduated from Renmin University of China in 2003 with an Executive Master's Degree in Business Administration.

Prior to joining the Group, he worked in Kaifeng Electromechanical Group and Henan Tongli Electrical Appliances Group. After joining the Group in 2003, he held various important positions in business planning and strategic performance management of the Group, and has in-depth involvement in city-gas business. Mr. ZHANG previously served as the executive director and President of the Company from December 2019 to December 2021.

In this role, he was responsible for the day-to-day operational management of the Group's businesses, strategic execution reviews and adjustments, as well as achieving business objectives. Following a job reassignment, he assumed the position of a non-executive director of the Company from December 2021 to January 2023. From December 2021 to December 2023, he also held the position of executive vice president of the Company's controlling shareholder, ENN Group Co.

Ltd., and the chairman of the Company's affiliated entity, ENC Digital Technology Co. Ltd. Additionally, from September 2020 to February 2023, he served as a non-executive director of Huzhou Gas Co. Ltd., the Company's associate.

Mr. ZHANG possesses acute customer understanding and market insights, and outstanding strategic thinking and execution capabilities. With his practical experience in digital transformation in group companies, the Board believes that he will contribute to the long-term stable growth and excellent operations of the Group. Mr. ZHANG is currently a director and the President of ENN Natural Gas Co., Ltd, the controlling shareholder of the Company.

Save as disclosed above, Mr. ZHANG did not hold any directorship in the last three years before his appointment date in any public companies the securities of which are listed on any securities market in Hong Kong or overseas. Mr. JIANG, aged 48, graduated from Wuhan University in 1997 with a Bachelor's degree in Economics. Later in 2009, he obtained a Master's degree in Business Administration for Senior Executives from Xiamen University.

Prior to joining group, he held important positions in the treasury and finance departments, as well as served a director of finance company and China Foreign Economy and Trade Trust Co. Ltd. under Sincochem Group from August 1997 to August 2017. In September 2017, he joined a group company of the Company's controlling shareholder as a senior executive, and he also served as a derivatives trading advisor to the Group, assisting in the effective management of the Group's commodity price and foreign exchange risks.

He possesses keen risk insights, excellent organisational coordination and analytical decision-making abilities. The Board believes that his extensive experience and unique insights in financial and value-based operational management, investment and financing management, and capital operations in group companies will contribute to better risk management for the Group. Mr. JIANG is currently a director and Joint Chief Executive Officer of ENN-NG, and also a director of Tibet Tourism Co.

Ltd., a connected person of the Company.