The board of directors of Concord New Energy Group Limited announced that Dr. Shang Li has been re-designated as an executive director of the company, Dr. Jesse Zhixi Fang has been appointed as an independent non-executive director of the company, and Dr. Shang has resigned as a member of the remuneration committee of the company and Dr. Fang has been appointed as a member of the remuneration committee of the company. With effect from January 2, 2018. Dr. Jesse Zhixi Fang will enter into a service contract with the company as an independent non-executive director of the company for a term of three years and shall hold office until the next annual general meeting of the company. Dr. Fang will be subject to retirement by rotation and re-election at annual general meeting of the company in accordance with the Bye-laws of the company.