HNA : Announcements and Notices - Changes to the Board of Directors of Cwt Limited

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

海航實業集團股份有限公司

(Incorporated in Hong Kong with limited liability)

Reference is made to the announcements of HNA Holding Group Co. Limited (the "Company") dated 9 April 2017, 26 July 2017, 4 August 2017, 18 August 2017, 7 September 2017, 21 September 2017 and 2 November 2017 and the circular of the Company dated 30 June 2017 (the "Circular"). Unless otherwise defined, capitalised terms used herein shall have the same meaning as those defined in the said announcements and Circular.

With effect from 20 November 2017, (i) Mr. Loi Kai Meng has resigned as a non-executive director, as chairman of the board and the executive council ("EXCO") and also as a member of the nominating and remuneration committee ("NRC") of CWT, and Mr. Liao Chung Lik has resigned as a non-executive director of the board and as a member in both the EXCO and the audit committee of CWT, (ii) Mr. Xu Haohao has been appointed as the chairman and an executive director and also a chairman of EXCO of CWT, Mr. Zhao Yongzhi has been appointed as an executive director and also a member of EXCO of CWT, Mr. Wu Wing Yang has been appointed as an executive director of CWT, Mr. Shen Yi has been appointed as a non-executive director of CWT and also a member of each of AC and NRC, and Mr. Zhang Can has been appointed as a non-executive director of CWT. As a result, with effect from 20 November 2017, the board of directors of CWT comprises Mr. Xu Haohao (chairman and executive director of CWT), Mr. Zhao Yongzhi (executive director of CWT), Mr. Wu Wing Yang (executive director of CWT), Mr. Shen Yi (non-executive director of CWT), Mr. Zhang Can (non-executive director of CWT), Mr. Loi Pok Yen (executive director and group chief executive officer of CWT), Dr. Tan Wee Liang (lead independent director of CWT), Mr. Jimmy Yim Wing Kuen (independent director of CWT), Dr. Hu Jian Ping (independent director of CWT). A copy of the announcement of CWT on new appointments, changes in board composition and committe members has been made available on the website of SGX-ST (www.sgx.com).

By order of the Board

Executive Director

Hong Kong, 20 November 2017

As at the date of this announcement, the Board comprises Mr. Zhao Quan (Executive Director and Co-Chairman), Mr. Wang Shuang (Executive Director and Co-Chairman), Mr. Xu Haohao (Executive Director and President), Mr. Leung Shun Sang, Tony (Non-executive Director), Mr. Wang Hao (Non-executive Director), Mr. Mung Bun Man, Alan (Non-executive Director), Mr. Leung Kai Cheung (Independent Non-executive Director), Mr. Liem Chi Kit, Kevin (Independent Non-executive Director) and Mr. Lam Kin Fung, Jeffrey (Independent Non-executive Director).