Yanchang Petroleum International Ltd. (YANCHANG PETRO) announced a leadership transition effective 26 August 2026. Feng Yinguo has stepped down from his roles as Chairman, Executive Director, Authorized Representative and member of the Remuneration Committee, citing retirement. The Board expressed appreciation for Feng’s service and noted that he has no disagreements with management or issues requiring shareholder attention.

Hu Yujie, age 56, has been appointed to succeed Feng in all four capacities—Chairman of the Board, Executive Director, Authorized Representative under Listing Rule 3.05, and member of the Remuneration Committee. Hu is a seasoned petroleum executive who joined Yanchang Petroleum Group in December 2008, rising to deputy general manager of its International Exploration Company and previously serving as deputy chief engineer of the group. He holds a bachelor’s degree in Petroleum and Natural Gas Geology from Northwest University and is pursuing a master’s degree in Gas Engineering at China University of Geosciences (Beijing).

Hu has signed a three-year service contract beginning 26 August 2026. Annual remuneration is set at HK$0.25 million, determined by reference to duties, market conditions and the Remuneration Committee’s recommendation. Hu has no shareholding in the company, no other listed directorships in the past three years and no connections with directors, senior management or substantial shareholders.

Board composition following the change comprises Executive Directors Hu Yujie (Chairman), Wang Haining, Ding Jiasheng and Mu Guodong; Independent Non-Executive Directors Ng Wing Ka, Leung Ting Yuk and Sun Liming; and Non-Executive Director Lu Yiwen.