The board of directors of Pearl Oriental Oil Limited announced that Mr. Li Songtao has been appointed as independent non-executive Director, with effect from 24 September 2019. Mr. Li is currently a Chinese Certified Public Accountant and a Chinese Certified Registered Tax Agent. Mr. Li has served as financial controller of Daqing Jinsanyuan Co.

Ltd. since September 2012; he has also worked in Daqing Branch of Heilongjiang Anlian Accounting Firm Co. Ltd. since December 2007, and is currently taking the position of vice director of the Branch; he had served as financial controller of Heilongjiang Dezhi Real Estate Development Co. Ltd. for period from June 2011 to August 2012.

The Board also announced that with effect from 24 September 2019, Ms. Zhong Bifeng has ceased to be member of audit committee of the Company (Audit Committee), and Mr. Li has been appointed as member and chairman of Audit Committee. The Board further announced that, with effect from 1 October 2019, Ms. Liu Xiao Ting will be appointed as he chief financial officer of the Company; and company secretary of the Company ("Company Secretary") and an authorised representative of the Company (Authorised Representative) to replace Mr. Luk Chi Shing (Mr. Luk), who will resign as Company Secretary and Authorised Representative with effect from 1 October 2019. Ms. Liu is a member of both Hong Kong Institute of Certified Public Accountants and the CPA Australia.

Prior to joining the Company, she had been working public companies listed on the Stock Exchange, taking the positions as a company secretary and senior positions in finance management. Prior to that, she worked as an external auditor in one of a well-known international accounting firms. She has a solid experience in financial, auditing and company secretarial areas.