In the morning of August 26, 2022, Sinochem Holdings convened an executive meeting for middle and top management. At the meeting, representative from the Organization Department of the CPC Central Committee announced the decision made by the central government on leadership changes in Sinochem Holdings: Li Fanrong is appointed as Chairman of the Board and Secretary of the Leading Party Group, relieved of the post of President; Ning Gaoning is relieved of the posts of Chairman of the Board and Secretary of the Leading Party Group. The appointment or dismissal shall comply with relevant laws and regulations.