The board of Directors of Fufeng Group Limited announced that Mr. Wang Longxiang has tendered his resignation as an executive Director and chief executive officer of the Company and member of the nomination committee of the Company as a result of personal health reason. His resignation has been accepted by the Board and will be effective from 25 July 2016. Mr. Wang confirmed that he has no disagreement with the members of the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company or the Stock Exchange of Hong Kong Limited.

The Company is conducting a search for a new Chief Executive Officer and as an interim measure, Mr. Li Xuechun, a Director and the chairman of the Board, will be overseeing the responsibility currently borne by Mr. Wang until the appointment of a new Chief Executive Officer. The Board would therefore like to inform that the resignation of Mr. Wang as an executive Director and Chief Executive Officer will not have any material adverse impact on the daily operations of the Group.