Mr. Chen Xiaozhou has resigned as a non-executive director of the Company and the chairman of the Board of the Company with effect from 20 January 2017 in order to pursue more commitments on the strategic development of China Cinda Asset Management Co. Ltd. Mr. Chen also ceased to be a member and the committee chairman of the nomination committee of the Company upon his resignation. Mr. Gu Jianguo has resigned as an executive director of the Company with effect from 20 January 2017 due to his change in employment and ceased to be employed by China Cinda. Mr. Wu Songyun has been appointed as a non-executive director of the Company and elected chairman of the Board of the Company with effect from 20 January 2017. Mr. Wu also acts as a member and the committee chairman of the nomination committee of the Company upon his appointment. Mr. Wu, aged 52, is currently a Vice President of the China Cinda. Mr. Ma Yilin has been appointed as an executive director of the Company with effect from 20 January 2017. Mr. Ma, aged 52, is currently the Managing Director of China Cinda (Hong Kong) Holding Limited, which is a wholly owned subsidiary of China Cinda. Mr. Ma is an intermediate economist.