The Board of Zhi Cheng Holdings Limited announced that Mr. Fu Yuanhong has been appointed as an executive Director of the Company, the chairman of the Board, the chairman of the Nomination Committee and a member of the Remuneration Committee. Mr. Zhang Honghai has been appointed as a non-executive Director and the honorary chairman of the Company. Dr. Li Zhan has been re-designated as a member of the Nomination Committee. Mr. Wu Xiaoming has resigned and Mr. Fu Yuanhong has been appointed as the Authorised Representative and Compliance Officer. The above changes are with effect from 19 February 2019. Mr. Fu Yuanhong acted as an assistant engineer in the Environmental Protection Department of the National Public Machinery Plant from September 1992 to December 1993. He served in Shanxi Hengshan Real Estate Development Company from December 1993 to November 2001 and his last position was office manager. Mr. Zhang Honghai has worked for the Beijing Municipal Government for many years and accumulated extensive experience in corporate management. He was the director of the Foreign Affairs Office of the People's Government of Beijing Municipality and Hong Kong and Macao Affairs Office of the People's Government of Beijing Municipality and was the vice president of the Beijing Chinese Overseas Friendship Association. Mr. Zhang worked in Beijing International Trust Investment Limited during the period from 1990 to 1998 and his final position was vice chairman and general manager.