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Qingdao Port International Co., Ltd. 青 島 港 國 際 股 份 有 限 公 司 (A joint stock company established in the People’s Republic of China with limited liability) (Stock Code: 06198)

ANNOUNCEMENT

RESIGNATION OF DIRECTOR CHANGE OF PRESIDENT RE-DESIGNATION OF NON-EXECUTIVE DIRECTORS ADJUSTMENT TO THE COMPOSITION OF THE REMUNERATION COMMITTEE AND CHANGE OF AUTHORISED REPRESENTATIVE

RESIGNATION OF DIRECTOR

The board (the “Board”) of directors of Qingdao Port International Co., Ltd. (the “Company”, together with its subsidiaries, the “Group”) hereby announces that due to the adjustment of work arrangements, Mr. JIAO Guangjun (焦廣軍, “Mr. JIAO”) tendered his resignation letter to the Board on 10 January 2020 to the effect that Mr. JIAO will resign as a non-executive director of the Company (the “Director”), vice chairman of the Board, a member of Strategy and Development Committee of the Board (the “Strategy Committee”), a member of the remuneration committee of the Board (the “Remuneration Committee”), and the authorised representative of the Company (the “Authorised Representative”) under Rule 3.05 of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the “Listing Rules”).

—1— The resignation letter of Mr. JIAO took effect upon the delivery to the Board. Mr. JIAO will no longer hold any position in the Company after his resignation from the above positions. Mr. JIAO has confirmed that he has no disagreement with the Board and does not have any matters in relation to his resignation that should be brought to the attention of the shareholders of the Company. Mr. JIAO has also confirmed that he does not have any action or claim, existing or pending, against the Company.

The Board would like to take this opportunity to express its sincere gratitude to Mr. JIAO for his invaluable contribution to the Company during his tenure of service with the Company and offer its best wishes to him.

CHANGE OF PRESIDENT

Resignation of President

The Board hereby announces that due to the adjustment of work arrangements, Mr. ZHANG Jiangnan (張江南, “Mr. ZHANG”) tendered his resignation letter to the Board on 10 January 2020 to the effect that Mr. ZHANG will resign as the president of the Company (the “President”).

The resignation letter of Mr. ZHANG took effect upon the delivery to the Board. Mr. Zhang will remain as a Director and a member of the Strategy Committee. Mr. ZHANG has confirmed that he has no disagreement with the Board and does not have any matters in relation to his resignation that should be brought to the attention of the shareholders of the Company. Mr. ZHANG has also confirmed that he does not have any action or claim, existing or pending, against the Company.

The Board would like to take this opportunity to express its sincere gratitude to Mr. ZHANG for his invaluable contribution to the Company during his tenure of service as the President with the Company and offer its best wishes to him.

Appointment of President

The Board is pleased to announcement that Mr. WANG Xinze (王新澤, “Mr. WANG”) was appointed as the President with a term of office effecting from 10 January 2020 and ending on the date of the expiration of the Board of the third session after his resignation as the vice president of the Company on 10 January 2020.

The Company entered into a service contract with Mr. WANG for his position as the President on 10 January 2020. Mr. WANG’s remuneration as the President (including the basic salary and performance- based bonus) will be determined by the Board with reference to his duty and responsibility within the Company, the Company’s remuneration policy and the prevailing market conditions. Mr. WANG will be entitled to receive a before-tax basic remuneration of not lower than RMB200,000 per annum, whereas the performance-based bonus will be determined according to his performance during his term of office as the President.

—2— Please refer to the appendix I to this announcement for biographical details of Mr. WANG.

Save as disclosed in this announcement, Mr. WANG currently does not, nor did he in the past three years, hold any directorships in any listed companies or any other major positions in the Company and its subsidiaries. Mr. WANG does not have any relationship with any Director, supervisor, senior management or substantial or controlling shareholder of the Company (as defined in the Listing Rules) .

As at the date of this announcement, other than disclosed above, Mr. WANG does not have any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) (the “SFO”). Save as disclosed above, there is no other information that is required to be disclosed pursuant to Rule 13.51(2) of the Listing Rules nor are there any matters that need to be brought to the attention of the shareholders of the Company.

The Board would like to welcome Mr. WANG on his new appointment of the President.

RE-DESIGNATION OF NON-EXECUTIVE DIRECTORS

The Board hereby announces that due to the adjustment of work arrangements, Mr. LI Fengli (李奉利, “Mr. LI”), Mr. ZHANG and Ms. JIANG Chunfeng (姜春鳳“Ms. JIANG”), the executive Directors, were re-designated as non-executive Directors, all with a term of office effecting from 10 January 2020 and ending on the date of the expiration of the Board of the third session.

The Company entered into new service agreements with Mr. LI, Mr. ZHANG and Ms. JIANG on 10 January 2020, respectively, under which he/she will not receive Directors’ emoluments during their respective term of office as a non-executive Director, and their respective term of office as a Director remains unchanged as disclosed in the announcement of the Company dated 17 May 2019 in relation to the appointment of the Director of the third session.

Please refer to the appendix II to this announcement for biographical details of Mr. LI, Mr. ZHANG and Ms. JIANG.

Save as disclosed in this announcement, none of Mr. LI, Mr. ZHANG and Ms. JIANG have held any other directorships in other listed companies or take up any other major positions in any members of the Group in the past three years or (i) is related to any Directors, supervisors, senior management or substantial or controlling shareholders of the Company; (ii) is interested in any shares of the Company within the meaning of Part XV of the SFO; or (iii) hold any other position with the Company or other members of the Group.

—3— Save as disclosed in this announcement, each of Mr. LI, Mr. ZHANG and Ms. JIANG has confirmed that there are no matters that need to be brought to the attention of the shareholders of the Company, and there is no other information that is required to be disclosed pursuant to Rule 13.51(2) of the Listing Rules in relation to their re-designations.

ADJUSTMENT TO THE COMPOSITION OF THE REMUNERATION COMMITTEE

The Board also announces that on 10 January 2020, Mr. LI was appointed as a member of the Remuneration Committee, with a term of office effecting from 10 January 2020 and ending on the date of the expiration of the Board of the third session. Upon the appointment of Mr. LI, the Remuneration Committee will consist of three Directors, namely Mr. LAI Kwok Ho (黎國浩), Mr. LI and Ms. LI Yan (李燕). Mr. LAI Kwok Ho serves as the chairman of the Remuneration Committee.

CHANGE OF AUTHORISED REPRESENTATIVE

Following the resignation of Mr. JIAO as stated above with effect from 10 January 2020, Mr. JIAO will cease to act as the Authorised Representative. Mr. LI, a Director, has been appointed in place of Mr. JIAO as the Authorised Representative, with effect from 10 January 2020.

Immediately after the aforesaid change, the Authorised Representatives are Mr. LI, a Director, and Mr. CHEN Fuxiang (陳福香), the company secretary of the Company.

By order of the Board Qingdao Port International Co., Ltd. Li Fengli Chairman

Qingdao, the PRC, 10 January 2020

As at the date of this announcement, the non-executive Directors are Mr. LI Fengli, Mr. ZHANG Wei, Mr. ZHANG Jiangnan, Mr. CHU Xiaozhong and Ms. JIANG Chunfeng; and the independent non-executive Directors are Ms. LI Yan, Mr. JIANG Min and Mr. LAI Kwok Ho.

—4— Appendix I – Biography of the President

Mr. Wang Xinze, aged 56, a senior economist, currently serves as a member of the Party Committee of the Company since March 2018. Mr. WANG served as the driver of the mechanical team of Beigang company (北港公司) of Qingdao Port Authority (now known as Qingdao Port (Group) Co., Ltd. (青島港 (集團) 有限公司“QDP”)) from August 1983 to July 1986, a student of Qingdao Radio and Television University (青島廣播電視大學) from July 1986 to July 1988, a clerk and manager of personnel and salary department of Beigang company from July 1988 to August 2000, deputy director of the labour department of Qingdao Port Authority and deputy director of the labour department of QDP from August 2000 to May 2003, manager of the labour department of Barge Branch (輪駁分公司) of Qingdao Port Authority from May 2003 to November 2005. Mr. WANG served as the department director, an assistant to director, and deputy director of the labour department, deputy director of the general management department, deputy director and director of the labour department of QDP from November 2005 to August 2006, August 2006 to April 2007, April 2007 to July 2009, July 2009 to July 2011, July 2011 to April 2012, April 2012 to February 2013, successively. Mr. WANG served as director of the labour department and member of the Party Committee of Intra-Organizational Department of QDP from February 2013 to November 2013. Mr. WANG served as director of the human resources department, member of the Party Committee of Intra-Organizational Department of the Company and member of the Party Committee of Intra-Organizational Department of QDP from November 2013 to April 2019, director of the general administrative department from November 2014 to March 2015, director of the Organization Department of the Party Committee of the Company and director of the Organization Department of the Party Committee of QDP from January 2017 to April 2019, vice president of the Company from March 2018 to January 2020. Mr. WANG graduated from the Shandong Provincial Party School ( 山 東 省 委 黨 校 ) in December 2004 with a bachelor’s degree and majoring in economy management.

—5— Appendix II – Biography of the non-executive directors

Mr. LI Fengli, aged 54, is an engineer. He currently serves as the secretary of the Party Committee of the Company, a non-executive Director, Chairman of the Board, chairman of the Strategy Committee and member of the nomination committee of the Board, and a member of the Remuneration Committee. Mr. LI served as the technician, assistant engineer of Qingdao First Municipal Engineering Co., Ltd. from July 1988 to March 1990, the deputy team leader of the first engineer team of Qingdao First Municipal Engineering Co., Ltd. from March 1990 to September 1990, the deputy chief of the planning and technology division of Qingdao Drainage Management Office from September 1990 to April 1992, the assistant to the director of Qingdao Drainage Management Office (leading roles of sections or equivalents) from April 1992 to April 1993, the engineer of Qingdao Foreign Real Estate Investment Development Service Center from April 1993 to April 1994, the deputy manager of Qingdao Foreign Real Estate Investment Development Service Center and Qingdao Construction Project Approval Service Company from April 1994 to May 1995, the secretary at deputy director level in Qingdao Municipal government office from May 1995 to April 1996, the director of the planning, finance and city construction section of construction committee of Qingdao city from April 1996 to September 1998, the assistant to the director of construction committee of Qingdao city and the director of the planning, finance and city construction section of construction committee of Qingdao city from September 1998 to April 2001, the member, deputy director of the construction committee of Qingdao city and the member of the party group from April 2001 to December 2003, the deputy general secretary of Qingdao Olympic Sailing Committee (leading roles of bureaus or equivalents) from December 2003 to March 2008, the deputy secretary and the acting district governor of Sifang District of Qingdao city from March 2008 to January 2009, the deputy secretary and the district governor of Sifang District of Qingdao city from January 2009 to November 2011, the deputy secretary of Licang District of Qingdao city from November 2011 to June 2013, the acting district governor of Licang District of Qingdao city from December 2011 to February 2012, the district governor of Licang District of Qingdao city from February 2012 to June 2013. Mr. LI served as the secretary, the director of the Standing Committee and the president of party school of Licang District of Qingdao City from June 2013 to April 2016, the vice executive chairman of the Standing Committee of the People's Congress of Lishui District of Qingdao city from June 2013 to May 2016, the deputy secretary of the Party Committee of the Executive Committee of Qingdao World Horticultural Exposition in 2014 from November 2011 to December 2014, the vice executive chairman and the general secretary of the Executive Committee of Qingdao World Horticultural Exposition in 2014 from September 2011 to December 2012, the deputy secretary of Hungdao District of Qingdao city, the director of Management Committee and the deputy secretary of Working Committee of the New District of West Coast of Qingdao city from January 2016 to December 2018, the director of Management Committee of the Economic and Technological Development Zone of Qingdao city from January 2016 to March 2017, the acting district governor of Huangdao District of Qingdao city from January 2016 to February 2016, the district governor of Huangdao District of Qingdao city from February 2016 to December 2018. Mr. Li served as the secretary of the Party Committee and chairman of the board of directors of QDP from December 2018 to December 2019 and has been serving as the secretary of the

—6— Party Committee of the Company since January 2019. He served as an executive Director since May 2019 to January 2020 and has been serving as the Chairman of the Board, chairman of the Strategy Committee and member of the nomination committee of the Board since May 2019, a member of the Remuneration Committee since January 2020, and the deputy secretary of the Party Committee, director, general manager of Shandong Port Group Co., Ltd. (山東省港口集團有限公司) since July 2019, and has been re-designated as a non-executive Director since January 2020. Mr. LI graduated from Ocean University of China ( 中國 海洋 大學) majoring in port, coast and offshore engineering in 2006, and obtained the doctoral degree.

Mr. ZHANG Jiangnan, aged 52, currently serves as a member of the Party Committee of the Company, a non-executive Director and a member of the Strategy Committee. Mr. ZHANG has worked in the Qingdao Port Authority ( 青 島 港 務 局 ) since July 1989 and served as chief engineer of stationary machine team, leader of machine team, vice leader and leader of stationary machine team, leader of mechanical team and leader of tier crane team of Container Company of Qingdao Port Authority (青島港 務局集裝箱公司), Qingdao Yuangang International Container Terminal Co., Ltd. (青島遠港國際集裝 箱碼頭有限公司) and Minggang Company of Qingdao Port Authority (青島港務局明港公司) since January 1994 to January 2004. Mr. ZHANG served as director and manager of QQCT in charge of machine at technical department since January 2004 to December 2005. Mr. ZHANG served as the assigned principal of Weihai Qingwei Container Terminal Co., Ltd. (威海青威集裝箱碼頭有限公司) from QDP since December 2005 to April 2007, vice manager of QQCT from April 2007 to August 2008 and manager of Qingdao Yuangang International Container Terminal Co., Ltd. (青島遠港國際集裝箱碼 頭有限公司) from August 2008 to January 2010. Mr. ZHANG has served as the assigned principal from QDP and general manager of Qingdao Qianwan United Container Terminal Co., Ltd. (青島新前灣集裝 箱碼頭有限責任公司) from January 2010 to July 2016, general manager of Qingdao Qianwan West Port United Terminal Co., Ltd.* (青島前灣西港聯合碼頭有限責任公司) from July 2015 to July 2016. Mr. Zhang served as a vice president, member of the Party Committee of QDP from June 2016 to September 2018, director of the business department of the Company from July 2016 to March 2018, director of business and information department of the Company from March 2018 to April 2019, a non-executive Director from June 2018 to September 2018, and has been serving as a member of the Party Committee of the Company since July 2018, member of the Strategy Committee since August 2018, deputy secretary of the Party Committee of QDP since September 2018, the President and an executive Director from September 2018 to January 2020, and has been re-designated as a non-executive Director since January 2020. He graduated from Shanghai Jiao Tongas University in July 1989, majoring in mechanical engineering department of ship power machinery and obtained his bachelor’s degree in engineering. Mr. ZHANG was entitled as a senior engineer in November 2002.

—7— Ms. JIANG Chunfeng, aged 44, a senior accountant. She currently serves as a member of the Party Committee of the Company, a non-executive Director and a member of the Strategy Committee. Ms. JIANG worked in the Shinan Sub-branch of the Shandong Branch of Bank of China (中國銀行山東分行 市 南 支 行 ) from July 2001 to July 2002. From July 2002 to July 2012, Ms. JIANG served as an accountant of the Finance Department of the Qingdao Port Authority and held various positions at QDP including department assistant, assistant to the director and deputy director of the Finance Department. Ms. JIANG worked at Qingdao Tianhao Property Co., Ltd. (青島天昊置業有限公司) from July 2012 to June 2013 and later served as deputy director of the Capital Markets Office of QDP from June to November 2013, and has been serving as director of Qingdao Finance since November 2013. Ms. Jiang served as the chief financial manager of the Company from November 2013 to January 2020, and a director of the finance department, member of the Party Committee of Intra-Organizational Department of the Company from November 2013 to April 2019, general manager of Qingdao Yongli Insurance Agency Co., Ltd. (青島永利保險代理有限公司) from November 2013 to March 2018, director of the overseas business department of the Company from March 2015 to October 2015. Ms. Jiang served as vice president of the Company from March 2015 to January 2020, has been serving as a member of the Party Committee and member of the Strategy Committee since March 2015, an executive Director from June 2015 to January 2020, and has been re-designated as a non-executive Director since January 2020. Ms. Jiang graduated from the Shandong Institute of Technology ( 山 東 工 程 學 院 ) (now known as Shandong University of Technology (山東理工大學)) in July 1998 with a bachelor degree in economics majoring in accounting, and graduated from the Shandong Economics University (山東經濟學院) (now known as Shandong University of Finance and Economics (山東財經大學)) in June 2001 with a master degree in management majoring in accounting.

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