About EPI (HOLDINGS) Company

Changying Group (Holdings) Limited (“Changying” or the “Company”, together with its subsidiaries collectively the “Group”) is listed on the main board of the Hong Kong Stock Exchange (stock code: 00689). Changying mainly focuses on oil and gas exploration and production in the upstream oil and gas sector, and also has interests in the solar energy and debt lending business. From 2007 to 2021, the Group held interests in oil field projects located in the Cuyana Basin in Mendoza Province, Argentina. With years of experience in the petroleum industry and the support of an experienced professional management team, the Group entered into a conditional asset purchase agreement (“Asset Purchase Agreement”) for the acquisition of target petroleum assets located in the WindyLake district of Alberta, Canada in February 2022. The target assets include oil and gas rights, facilities and pipelines, and other properties and assets of more than 30 active wells. The Group will drill 49 new wells on land held by the target assets according to the four-year development plan formulated by the group. The asset purchase agreement was formally approved by shareholders at the Company's special shareholders' meeting held on March 29, 2022, and the transaction was completed on July 16, 2022. The acquisition of Petro-Canada assets is a valuable and attractive investment for the Group to continue to expand its petroleum business. Looking ahead, Changying will continue to seek strategic investment opportunities in the oil and solar energy business and strive to expand its revenue sources and asset size.