Reference is made to the announcement of the Company dated 22 July 2016 concerning the resignation of Mr. Wang Longxiang as executive director and chief executive officer of the Fufeng Group Limited. The board of directors of Fufeng Group Limited announced that, Mr. Zhao Qiang has been appointed as the chief executive officer of the Company with effect from November 9, 2016. Mr. Zhao, has over 20 years of experience in sales and operation in the food and beverage industry with a strong track record of leading and developing successful food businesses in Greater China and across Asia Pacific. 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. In his role as the CEO, Mr. Zhao would be responsible for the Group's operation management and business strategy, implementing decisions and plans approved by the Board, making day- to-day operational and management decision and coordinating overall business operations. Upon the appointment of Mr. Zhao, Mr. Li Xuechun will resume his role as a Director and the Chairman of the Board only.