China Zhongwang Holdings Limited announced that Mr. Liu Zhongtian has resigned from the positions of executive director, chairman of the Board, member of the nomination and remuneration committee of the Company and chairman of the strategy and development committee of the Company due to his personal health reasons with effect from the date of this announcement. The Board appointed Mr. Lu Changqing, an executive director of the Company, as chairman of the Board, member of the nomination and remuneration committee of the Company and chairman of the strategy and development committee of the Company with effect from the date of this announcement. Mr. Lu Changqing is primarily responsible for the Group's strategic planning and operation and management. The Board announced that Mr. Gou Xihui has resigned from his position as an executive Director due to other personal commitments with effect from the date of this announcement. The Board announced that Mr. Liu Zhisheng has been appointed as a non-executive Director with effect from the date of this announcement. Mr. Zhang Hui has been appointed as a non- executive Director with effect from the date of this announcement. In addition, Ms. Ma Qingmei has been appointed as an executive Director as well as a member of the strategy and development committee of the Company with effect from the date of this announcement. Mr. Zhang Hui is the chairman and general manager of Yingkou Zhongwang Aluminium Company Limited. Ms. Ma Qingmei the chairman of Tianjin Zhongwang.