Ma Tianyi (“Mr. Ma”), who is an executive Director and the chief executive officer (“CEO”) of the Company, has been appointed as the Chairman with effect from 1 February 2023.

Mr. Ma, age 28, joined the Group on 1 March 2017 as an executive Director and has been appointed as the CEO on 1 May 2021. He is a director of Shiny Ocean Holdings Limited since January 2018. He graduated from Downing College, University of Cambridge in June 2016 with a Bachelor’s Degree in Arts, specializing in Natural Sciences Tripos and obtained the qualification on Master of Business Administration from the University of Hong Kong in 2020.

Mr. Ma is the son of Mr. Ma Qiang, who was a former executive Director and a former Chairman. Mr. Ma is also the nephew of Mr. Liu Fali, an executive Director and the chief operating officer of the Company and the nephew of Ms. Ma Ye, an executive Director.

Mr. Liu Fali (“Mr. Liu”) has been re-designated from the Chief Executive Officer to the Chief Operating Officer of the Company with effect from 1 May 2021.

Mr. Liu Fali has been appointed as an executive director of the Company and a director of a number of subsidiaries of the Group since 20 October 2015 and has been the Chief Operating Officer and Senior Blasting Engineer of the Company since March 1, 2017. He is promoted to Chief Executive Director from 9 January 2019. He graduated from the Inner Mongolia Grain School. Mr. Liu has more than 23 years of experience in the civil explosive industry. From October 1997 to March 2000, he worked in Inner Mongolia Dongyitai Chemical Ltd (mainly engaged in the manufacture and sale of civil explosives). From March 2000 to April 2006, he was the manager of the Sales and Purchasing Department of Dongyitai Chemical Ltd, in charge of the sale, production, and purchase of civil explosives. From April 2006 to January 2008, he was appointed as the general manager of Dongyitai Chemical Ltd. Since January 2008, he has been working in Inner Mongolia Shengan Chemical Co., Ltd. in charge of management, business, and safety operation. From February 2012 to July 2013, Mr. Liu acted as the general manager assistant and office director of Shengshi Huaxuan.

Mr. Liu Fali is the cousin of Mr. Ma Qiang, the former chairman of the Board, former executive director of the company, and the existing controlling shareholder of the Company. He is also the uncle of Mr. Ma Tianyi, the Chairman of the Board and chief executive director of the Company. He is also the cousin of Ms. Ma Ye, the executive director of the Company.

Ms. Qin Chunhong has joined the Company and acted as an executive director of the Company since December 14, 2012.

She achieved her master's degree in business administration from Peking University and bachelor's degree from Henan University of Finance and Economics. She has been a member of the China Certified Tax Agents Association since 2008 and has been a member of the China Institute of Certified Public Accountants since 2000. Ms. Qin has been the chief financial officer of Beijing Shengshi Huaxuan Investment Ltd. since 2010. From 2006 to 2009, she was the chief financial officer of Inner Mongolia Shuangli Mining Co., Ltd. and served as the chief financial officer of Western Mining Group (Hong Kong) Co., Ltd from 2005 to 2006.

Ms. Ma Ye has been appointed as an executive director of the Company with effect from 9 January 2019.

Ms. Ma graduated from Inner Mongolia Higher Education Self-study Examination Chinese Language and Literature Education in 1996. From November 2007 to July 2013, she served as the administrative manager of Beijing Shengshi Huaxuan, responsible for daily administrative management and human resources. Since July 2013, she has been the general manager of Beijing Shengshi Huaxuan. Since 2016, she has been the chairman of Qinghai Boyang Electronics Co., Ltd.

Ms. Ma is the aunt of Mr. Ma Tianyi, the Chairman of the Board and chief executive director of the Company. She is the younger sister of Mr. Ma Qing, the former chairman of the Board, former executive director of the company, and the existing controlling shareholder of the Company. She is also the cousin of Mr. Liu Fali, the current chief operating officer and executive director.

Mr. Ma Yong (“Mr. Ma”) has been appointed as an executive Director with effect from 14 April 2023.

Mr. Ma, graduated from Wuhan Institute of Technology (currently known as Wuhan Polytechnic University) in PRC in June 2006 with a bachelor’s degree of management. Mr. Ma obtained licence of human resources in February 2005, he has also passed the qualification examination for a tour guide in January 2006, and he was qualified as a junior blasting engineer in March 2022. Mr. Ma has over 14 years of experience in corporate management. He has been the general manager of Tajikistan KM MUOSIR since March 2023. During the period of January 2021 to March 2023, he was the general manager of Shenzhen Boyang Science and Training Development Group Co., Ltd.; from November 2017 to January 2021, he was employed by Inner Mongolia Juli Engineering and Blasting Services Limited with his last position as the general manager; and from May 2008 to November 2017, he was employed by Hulumbeier Shengshi Mining Investment Co., Ltd. with his last position as the general manager.

Mr. Ma is the uncle of Mr. Ma Tianyi, an executive Director, the chairman of the Board and the chief executive officer of the Company. Mr. Ma is also a cousin of Mr. Ma Qiang, a former executive Director and a former chairman of the Board, Mr. Liu Fali, an executive Director and the chief operating officer of the Company, and Ms. Ma Ye, an executive Director.