Effective as of February 5, 2017, Zhongyang Shang tendered his resignation as an independent member of the board of Biostar Pharmaceuticals, Inc. and of the board's standing committees. Mr. Shang resigned his board and board committee memberships to focus his attention on personal health issues; his resignation was not for any disagreements with the company, its management or the board. Effective as of February 5, 2017, Qinghua Liu, the company's Interim Chief Financial Officer (CFO), tendered her resignation as the company's CFO.

Ms. Liu's departure was due to family/personal reasons and not due to any disagreement with the company, its management or the board; she will continue her service on the board of the company. Effective as of the same date, the board appointed Xiaojuan Zhai to serve as the company's new CFO. Prior to this appointment, from September 2015 to February 2017, Ms. Zhai served as a Deputy CFO at Shaanxi Aoxing Pharmaceutical Co.

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