The board of directors of Chu Kong Shipping Enterprises (Group) Company Limited announced that upon review and recommendation by the nomination committee, the Board has resolved to appoint Mr. Huang Liezhang as an executive director of the company and the chairman of the Board with effect from 17 November 2017. Mr. Huang has been appointed as the chairman of nomination committee, a member of remuneration committee and executive committee from 17 November 2017. Mr. Huang has worked in shipping sector since 1988 and was appointed as the deputy managing director and the managing director of Guangdong Pearl River Tanker Transportation Co. Ltd. from June 1999 to July 2005, the chairman of the company from August 2005 to May 2006, the executive managing director of Chu Kong Shipping Enterprises (Holdings) Co. Ltd. from July 2005 to June 2011, the managing director of the company from June 2011 to May 2013, and the assistant general manager of Guangdong Province Navigation Group Company Limited and the chairman of Guangdong Province Zhujiang Shipping Co. Ltd. from May 2013 to November 2017. Mr. Huang has more than 29 years of experience in navigation operation management and administration management. Mr. Xiong Gebing has resigned as the executive director of the company and the chairman of the Board as well as the chairman of nomination committee, the member of remuneration committee and executive committee with effect from 17 November 2017 due to his personal affairs. Mr. Xiong holds the position of general manager of the company. Upon review and recommendation by the nomination committee, the Board has resolved to appoint Mr. Fan Linchun as a non-executive director of the company with effect from 17 November 2017. Mr. Fan joined the financial and foreign currency management sector since 1986 and has over 30 years of working experience. Mr. Fan joined the People's Bank of China (PBOC) since 1986 and worked as the deputy director of Current Project Management Office of PBOC Guangzhou Branch from 2001 to 2005, the Vice President of PBOC Shanwei Central Branch and the deputy director of the State Administration of Foreign Exchange (SAFE) Shanwei Central Branch from 2005 to 2009, the deputy director of Capital Project Management Office of PBOC Guangzhou Branch from 2009 to 2011, the office director of the Cross-border RMB Settlement Pilot Work Group of PBOC Guangzhou Branch from 2011 to 2014, the director of Financial Settlement Center of GNG from 2014 to 2015 and the deputy general manager of the company since 3rd April 2015, responsible for capital operation and legal affairs. Mr. Fan is also a director of GTF Maritime Financial Leasing Co. Ltd. Mr. Zhang Lei has resigned as the non-executive director of the company with effect from 17 November 2017 due to his decision to pursue his other personal engagement.