E-Commodities Holdings Limited

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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(Incorporated in the British Virgin Islands with limited liability)

(Stock Code: 1733)

CHANGE OF EXECUTIVE DIRECTOR CHANGE IN COMPOSITION OF BOARD COMMITTEE AND CHANGE OF CHIEF FINANCIAL OFFICER

The Board announces the following changes of Directors and composition of the Board committees with effect from 30 July 2021:

(1) Mr. Li Jianlou has resigned as the executive Director;
(2) Mr. Zhao Wei has been appointed as the executive Director;
(3) Mr. Wang Yaxu has resigned as the CFO;
(4) Ms. Ren Haiyan has been appointed as the CFO;
(5) Ms. Cao Xinyi has resigned as a member of the Nomination and Corporate Governance Committee; and
(6) Ms. Di Jingmin has been appointed as a member of the Nomination and Corporate Governance Committee.

RESIGNATION OF EXECUTIVE DIRECTOR

The board (the “ Board ”) of directors of E-Commodities Holdings Limited (the “ Company ”, together with its subsidiaries, the “ Group ”) announces that Mr. Li Jianlou (“ Mr. Li ”) has tendered his resignation as an executive director of the Company (the “ Director ”) with effect from 30 July 2021 since he is approaching the statutory retirement age. Since then, Mr. Li will serve as a senior consultant of the Company, to share his work experience and cultivate young employees in order to provide human resources for the development of the Company.

Mr. Li has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that need to be brought attention to the shareholders of the Company (the “ Shareholders ”).

Mr. Li performed his duties faithfully with diligence and commitment during his term of service. The Board would like to take this opportunity to express its sincere gratitude to Mr. Li for his outstanding and valuable contribution to the Company during his term of service.

APPOINTMENT OF EXECUTIVE DIRECTOR

The Board is pleased to further announce that Mr. Zhao Wei (“ Mr. Zhao ”) has been appointed as an executive Director with effect from 30 July 2021.

Mr. Zhao Wei, aged 51, is currently the vice president of the Company. Mr. Li joined the Group in 2016 and was appointed as the vice president of the Company in January 2021, and is currently responsible for the cross-border transportation, domestic warehousing and transportation in relation to import of Mongolian coal. Mr. Li also serves as a director and general manager of Inner Mongolia E- 35 Technology Co., Ltd.* (內蒙古易至科技股份有限公司, “ Inner Mongolia E-35 ”), a subsidiary of the Company. Inner Mongolia E-35 and its subsidiaries are mainly engaged in the commodity logistics business of the Group. Mr. Zhao also serves as the director and general manager of certain subsidiaries of the Company. Prior to joining the Group, Mr. Zhao served as, among others, assistant engineer, engineer, manager of business development department and general manager of Jinan Railway Bureau* (濟南鐵路局), Han Ji Railway Co., Ltd.* (邯濟鐵路有限責任公司) and Qingdao Bao Han Transportation and Trading Co., Ltd.* (青島寶邯運輸貿易有限公司) during the period from 1992 to 2009; and held positions in Lung Ming Mining Co., Ltd. during the period from 2009 to 2016, which were mainly responsible for the construction and improvement and operation management of mining railways, as well as the domestic circulation and sales of iron ore. Mr. Zhao has over 29 years of experience in logistics management and corporate operations. Mr. Zhao graduated from Lanzhou Jiaotong University in 1992 with a bachelor’s degree in engineering.

As at the date of this announcement, Mr. Li does not have any interest, or deemed to be interested, in any shares or underlying shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The Company entered into a service contract with Mr. Zhao for a term of 3 years commencing from 30 July 2021 regarding the appointment of Mr. Zhao as an executive Director. Mr. Zhao will hold the office until the next following annual general meeting of the Company after his appointment and will be subject to re-election at that meeting and thereafter in accordance with the amended and restated articles of association of the Company.

Apart from the performance-based salary for his other positions in the Group, Mr. Zhao will be entitled to receive a total sum of US$30,000 per annum as the director’s fee for his appointment as an executive Director under the service contract.

Mr. Zhao does not hold any directorships in other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years. Save as disclosed above, Mr. Zhao does not hold any other position with the Company or its subsidiaries. As at the date of this announcement, Mr. Zhao does not have any relationship with any director, senior management, substantial shareholder or controlling shareholder of the Company.

Save as disclosed above, there is no other matter relating to the appointment of Mr. Zhao that needs to be brought to the attention of the Shareholders and there is no other information that needs to be disclosed in connection with Mr. Zhao’s appointment as an executive Director pursuant to the requirements of Rule 13.51(2) of The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Board expresses its warmest welcome of Mr. Zhao joining the Board.

CHANGE IN COMPOSITION OF THE COMMITTEE OF THE BOARD

Ms. Cao Xinyi has resigned as a member of each of the Nomination and Corporate Governance Committee; Ms. Di Jingmin has been appointed as a member of the Nomination and Corporate Governance Committee. Such change in composition of the committee of the Board shall take effect from 30 July 2021.

With effect from 30 July 2021, the four committees of the Board will comprise:

Audit Committee: Mr. Ng Yuk Keung (chairman), Mr. Wang Wenfu and Mr. Gao Zhikai
Remuneration Committee: Mr. Wang Wenfu (chairman), Mr. Ng Yuk Keung and Ms. Cao Xinyi
Nomination and Corporate Governance Committee: Mr. Gao Zhikai (chairman), Mr. Ng Yuk Keung and Ms. Di Jingmin
Health and Safety and Environmental Committee: Mr. Wang Yaxu (chairman), Mr. Wang Wenfu and Mr. Gao Zhikai

CHANGE OF CHIEF FINANCIAL OFFICER

The Board further announces that, Mr. Wang Yaxu has tendered his resignation as the chief financial officer of the Company (the “ CFO ”) with effect from 30 July 2021 in order to focus on his overall responsibility as an executive Director. Mr. Wang Yaxu intends to apply his rich experience in business and management over the years to the top-level design of the Company’s strategic planning and execution plan, and dedicates to expand the domestic coal business of the Group.

The Board is pleased to further announce that Ms. Ren Haiyan (“ Ms. Ren ”) has been appointed as the CFO with effect from 30 July 2021.

Ms. Ren Haiyan, aged 37, is the general manager of the financial department of the Company. She joined the Group in 2009 and is currently responsible for the financial management of the Group. Ms. Ren has over 12 years of extensive experience in the financial management of the Group. She also serves as director of certain subsidiaries of the Company. Ms. Ren graduated from the University of Science and Technology Beijing in 2009 with a master’s degree in management. She is a nonpracticing member of the Chinese Institute of Certified Public Accountants and a non-practicing (registered) tax accountant of the China Certified Tax Agents Association.

The Board wishes to take this opportunity to express its welcome to Ms. Ren for her new appointment.

By Order of the Board E-Commodities Holdings Limited Cao Xinyi Chairman

Hong Kong, 30 July 2021

As at the date of this announcement, the executive directors of the Company are Ms. Cao Xinyi, Mr. Wang Yaxu, Ms. Di Jingmin and Mr. Zhao Wei; the non-executive director of the Company is Mr. Guo Lisheng; and the independent non-executive directors of the Company are Mr. Ng Yuk Keung, Mr. Wang Wenfu and Mr. Gao Zhikai.

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E-Commodities Holdings Limited Board/Management Information 2021

50127_rns_2021-07-30_ebf3dee9-6fe9-4593-b952-f3fd8b9e5a18.pdf