On December 31, 2014, the Board of Directors of Viewtran Group, Inc. received a letter of resignation from Dr. Q.Y. Ma, a non-executive and independent director of the company, effective immediately. Following Mr. Ma's resignation, on January 12, 2015, the Board appointed Mr. Jing Xu to serve as a member of the Board to fill the vacancy created by the departure of Dr. Q.Y. Ma, and to serve in such capacity until the next annual meeting of shareholders or until his successor is elected and has qualified. Mr. Xu was also appointed to serve as a member of each of the company's Audit Committee, Nominating and Corporate Governance Committee and Compensation Committee and as the chair of the Compensation Committee of the company.

Mr. Xu has served as the General Manager of Sales at Huachuang Securities Company Limited since 2011. Prior to that, Mr. Xu held various positions at Haitong Securities Company Limited from 1995 to 2011, most recently as Vice General Manager.