The board of directors of Capital Industrial Financial Services Group Limited announced the following changes in directorships of the Company with immediate effect: Mr. Xu Liang ("Mr. Xu") resigned as the chairman and an executive director of the Company and the chairman of the executive committee of the Board ("Executive Committee") and the nomination committee of the Board ("Nomination Committee"), and a member of the remuneration committee of the Board ("Remuneration Committee") of the Company due to a change in his job position. Ms. Sun Yajie ("Ms. Sun") has been appointed as the chairman and an executive director of the Company and the chairman of the Executive Committee and the Nomination Committee, and a member of the Remuneration Committee of the Company. Ms. Sun, aged 49, graduated from Hebei University of Economics and Business. Ms. Sun is a senior accountant and a Chinese Certified Public Accountants. Ms. Sun joined Shougang Group Co. Ltd. ("Shougang Group") in 1994 and served as the head of the accounting and finance
department of Qinhuangdao Shougang Plate Co. Ltd., the deputy head of the accounting and finance department of Qinhuangdao Shouqin Metal Materials Co. Ltd. ("Shouqin Company"), and the deputy head of the overseas investment and finance division of the overseas business management department of Shougang Corporation. Ms. Sun is currently the deputy head of the international business department and the overseas finance director of Shougang Group. Shougang Group is a substantial shareholder of the Company. Ms. Sun has extensive experience in the steel industry, corporate finance, financial accounting and management. In accordance with the Bye-laws, Ms. Sun will hold office until the next general meeting of the Company, at which time she will be eligible for re-election. Thereafter, Ms. Sun will retire from office by rotation at least once every three years in accordance with the requirements of Code Provision B.2.2 of Part II of the Corporate Governance Code as set out in Appendix 14 to the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited. After taking over as the Chairman, Ms. Sun will lead the Company to construct Shougang supply chain finance platform revolving around the steel industry and promote the integration of the layout in the field of supply chain finance for the Company in recent years, achieve synergy between factoring business, leasing business and supply chain business, forming a development synergy and lay a solid foundation for the transformation of the Company to the supply chain technology. Promote sustainable development to provide hire purchase financing convenience for small and medium customers, reduce financing costs, and enhance supply chain stability. Capital Industrial Financial Services is determined to innovate and keep making progress, and continuously create value for the industry, for Shareholders, and the society.