Effective as of July 23, 2015, Zuosheng (Henry) Yu resigned as Chief Executive Officer of General Steel Holdings, Inc. Mr. Yu will remain as Chairman of the Board of Directors of the company. As a result of Mr. Yu's resignations, Yunshan Li was appointed as Chief Executive Officer of the company. She will service in such capacity until her successor is duly elected and qualified or until her earlier resignation or removal by the Board.

Prior to her appointment as Chief Executive Officer of the company, Ms. Li was the Co-Founder and Chief Executive Officer of Catalon Chemical Corporation.