About EPI (HOLDINGS) Company

Changying Group (Holdings) Limited (“Changying” or the “Company”, together with its subsidiaries collectively referred to as 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 an oil field project 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”) in February 2022 for the acquisition of target petroleum assets located in the WindyLake area of Alberta, Canada. Target assets include more than 30 oil and gas rights, facilities and pipelines, and other properties and assets in production wells. The Group will drill 49 new wells on the land held by the target assets according to its four-year development plan. The asset purchase agreement was formally approved by shareholders at the special general meeting of shareholders of the Company held on March 29, 2022, and the transaction was completed on July 16, 2022. The acquired Petro-Canada assets are a valuable and attractive investment for the Group to continue to expand its petroleum business. Looking forward to the future, Changying will continue to seek strategic investment opportunities in the petroleum and solar energy business, and strive to expand its revenue sources and asset size.