The board of directors of IRICO Group New Energy Company Limited announced that: Mr. Zou Changfu will retire from his office as an executive director of the company; Mr. Chen Xiaoning will be re-designated from a non-executive director of the company to an executive director of the Company; and Mr. Zou will cease to be the general manager and legal representative of the Company and Mr. Chen will be appointed as the general manager and legal representative of the Company. The Board announced that Mr. Zou has attained retirement age and will cease to be an executive director of the Company and a member of each of the Nomination Committee and the Remuneration Committee of the Company, with effect from 13 February 2019. Mr. Zou has confirmed that he has no disagreement with the Board and there is no matter that needs to be brought to the attention of the shareholders of the Company. The Board would like to take this opportunity to express its sincere gratitude to Mr. Zou for his contribution to the Company during his term of office. Due to the retirement of Mr. Zou, the number of the members of the current Board will fall short of the quorum as stipulated in the articles of association of the Company. The Company will convene a Board meeting and a general meeting as soon as practicable to fill up the vacancy in the Board. The Board further announced that Mr. Chen, a non-executive director of the Company, will be re-designated to an executive director of the Company, and he will continue to serve as a member of the strategy committee of the Company, with effect from 13 February 2019, and his term of office shall commence from the effective date of the re- designation to the expiry of the fourth session of the Board. Mr. Chen Xiaoning, an executive deputy general manager of the company. Mr. Chen currently serves as the vice chief engineer of IRICO Group Company Limited, an executive director, the general manager and legal representative of IRICO (Hefei) Photovoltaic Co. Ltd. and an executive director, the general manager and legal representative of IRICO (Yan'an) New Energy Co. Ltd. He served as a technician, a group leader and a plant secretary of No. 1 IRICO Color Picture Tube Plant, the head of secretariat office, the head of administrative office and an administrative assistant to the general manager of IRICO Group, a deputy head and the head of the office of the Company, the deputy head and a secretary of discipline inspection commission of IRICO Photovoltaic Glass Factory, the deputy head of the office of Board and office of general manager of the Company, an assistant to the general manager of the Company, the deputy general manager of IRICO (Hefei) Photovoltaic Co. Ltd., the deputy general manager of Hefei IRICO New Energy Co. Ltd., as well as the deputy general manager of the Company and the general manager of Hefei IRICO New Energy Co. Ltd. Mr. Zou will cease to be the general manager and legal representative of the company following the retirement from his office as an executive director. The Board also announced that Mr. Chen has been appointed as the general manager and legal representative of the Company with effect from 13 February 2019, whose term of office shall commence from the date of appointment at the Board meeting to expiry of the fourth session of the Board. Mr. Chen will cease to be an executive deputy general manager of the Company.