The board of directors of AVIC International Holding (HK) Limited announced that upon the conclusion of the annual general meeting of the Company held on 26 May 2017, Mr. Li Zhaoxi has ceased to be an independent non-executive Director and a member of the audit committee of the company with effect from 26 May 2017. The Board announced that Mr. Zhang Ping has been appointed as an independent non-executive Director and a member of the Audit Committee with effect from 26 May 2017. Mr. Zhang currently works in the Institute of Economics (IE) under Chinese Academy of Social Science (CASS).