The board of directors of Jiangsu Shunfeng Photovoltaic Technology Co., Ltd. announced that Mr. Lu Jianqing has resigned as an executive director of the company, the general manager of the company and a member of the remuneration committee of the company due to his other business commitments. The resignation of Mr. Lu will become effective on March 29, 2012. Mr. Gao Zhan has been appointed as an executive Director. The appointment of Mr. Gao will become effective on March 29, 2012 and is to fill the vacancy arising from the resignation of Mr. Lu as an executive Director. Mr. Gao worked as the chairman of board of directors of Tendresse Shanghai Co., Ltd. from October 2008 to February 2012, and an executive director of Justoons Jiangsu Co., Ltd. from December 2008 to February 2012 and a director of Changzhou GF Garment Inspection Co., Ltd. from July 2002 to February 2012. Mr. Shi Jianmin has been appointed as the new general manager of the company in place of Mr. Lu. The appointment of Mr. Shi will become effective on March 29, 2012. Mr. Shi, aged 45, is an executive Director and the vice chairman of the Board. He has been a deputy general manager of the company since May 23, 2011 and a deputy general manager of Shunfeng Technology since April 1, 2010. Mr. Shi is responsible for financial management of the company. Mr. Shi was the deputy general manager of Zhenjiang Runfeng Real Estate Development Co., Ltd. from June 2007 to March 2010. Mr. Ge Ming, an independent non-executive Director, has been appointed as the chairman of the Remuneration Committee in place of Mr. Tang Guoqiang with effect from March 28, 2012. Mr. Tang shall remain as a member of the Remuneration Committee. The nomination committee of the company has been established on March 28, 2012. The Nomination Committee comprises Mr. Tang, Mr. Ge Ming and Mr. Zhao Yuwen. Mr. Tang, the chairman of the Board, has been appointed as the chairman of the Nomination Committee.