China Oilfield Appoints Liu Jianzhong as CEO and Shang Jie as President

CHINA OILFIELD (ASX: 02883) has announced a series of significant leadership changes.

The board received the written resignation of Mr. Zhao Shunqiang, the company's Chairman, Executive Director, and Chief Executive Officer, on June 30, 2026. Mr. Zhao resigned from all these positions, as well as his role on the Nomination Committee, due to work adjustments. His resignation as Chairman, Executive Director, and Nomination Committee member will take effect once a new Executive Director is elected by shareholders at an extraordinary general meeting. His resignation as CEO is effective from June 30, 2026. According to the company's articles of association, the legal representative is the Chairman; therefore, the resignation as Chairman is considered a simultaneous resignation from the role of legal representative.

On the same date, the board also received the written resignation of Executive Director Mr. Lu Tao, also due to work adjustments. His resignation will become effective upon the election of a new Executive Director at the extraordinary general meeting.

Concurrently, the board has appointed Mr. Liu Jianzhong as the company's Chief Executive Officer and Mr. Shang Jie as the company's President, both appointments effective from June 30, 2026.

Furthermore, the board has proposed the appointment of both Mr. Liu Jianzhong and Mr. Shang Jie as Executive Directors of the company.

The board has also recommended the re-appointment of Mr. Fan Baitao and Mr. Liu Qiudong as Non-Executive Directors of the company.

Mr. Liu Jianzhong will succeed Mr. Zhao Shunqiang as the company's authorized representative under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. This appointment will take effect from the date the extraordinary general meeting approves his role as an Executive Director.