The board of directors of Shenzhou International Group Holdings Limited hereby announces that Ms. Zheng Miaohui has tendered her resignation as an executive director of the company due to her planned retirement with effect from 1 January 2017 in order to retire from her executive role in the company; and Mr. Chen Genxiang has tendered his resignation as an independent non-executive director of the company, the chairman of the remuneration committee of the company and a member of the audit committee of the company, all with effect from 1 January 2017 due to planned retirement. As a result of Mr. Chen's resignation, a vacancy for the chairman of the remuneration committee arises. Pursuant to the terms of reference of the remuneration committee, the board has appointed Mr. Chen Xu, an independent non-executive director of the company, as the chairman of the remuneration committee.