The board of directors of Fufeng Group Limited announces that the Board has appointed two senior managers of the Group, Mr. Zhao Qiang and Mr. Pan Yuehong, as executive Directors with effect from 5 June 2017. Mr. Zhao Qiang, 49, is the chief executive officer of the Group and has been with the Group since 9 November 2016. Before joining the Company, Mr. Zhao was the chief operation officer and the chief executive officer of Lee Kum Kee Sauce Group since 2011 to 2015.

During a career spanning more than 20 years, Mr. Zhao has held a range of senior leadership, strategy development and operation management positions with PepsiCo Group and Kraft Foods International in Greater China, and the Asia Pacific Region. Mr. Xu Guohua has tendered his resignation as an executive Director and vice general manager of the Group and as a director of Shandong Fufeng Fermentation Co. Ltd., Baoji Fufeng Biotechnologies Co.

Ltd., Neimenggu Fufeng Biotechnologies Co. Ltd. and Hulunbeir Northeast Fufeng Biotechnologies Co. Ltd., all of which are indirect wholly- owned subsidiaries of the Company with effect from 5 June 2017, due to his decision to focus his time and effort on managing the business of Jiangsu Shenhua Pharmaceutical Co.

Ltd. As a result, he will remain as a director and the general manager of Shenhua Pharmaceutical. Mr. Chan Yick Kei has tendered his resignation as the chief financial officer of the Group with effect from 5 June 2017, due to his personal reasons and other business opportunities.