As planned for board member succession plan, Mr. Min Tang and Mr. Weibin Yan provided notice to Origin Agritech Limited and its Board of Directors of their decision to retire as directors of the company, their retirement to be effective December 31, 2018. Messrs. Tang and Yan's decision to retire as directors did not involve any disagreement with the company, the company's management or the Board. In connection with the Retirement, the Board has also determined that, effective as of January 1, 2019, Mr. Rong Chen, an existing director, will begin serving as the chairman of the company's Compensation Committee and a member of the company's Audit Committee and Nominating Committee, and Mr. Aiyang Wang, an existing director, will begin serving as the chairman of the Audit Committee and a member of the Nominating Committee.