The board of directors of Ko Yo Chemical (Group) Limited announced that Mr. Xu Congcai will be appointed as an independent non-executive Director and a member of each of the nomination committee of the Board, the audit committee of the Board and the remuneration committee of the Board with effect from August 1, 2017. Mr. Xu is a professor at Nanjing University of Finance and Economics, a vice president at the Commerce Economy Association of China, a member of the Seventh Session of the Higher Education Institution Approval Committee under the Ministry of Education for the period between 2017 and 2021, an executive dean of Taihu University of Wuxi and an independent director of Daqian Ecology and Landscape Co. Ltd. He also acted as an independent director of Wuxi Rural Commercial Bank.