ASR Logistics Holdings Limited announced management changes, with effect from April 8, 2016. Mr. Hu Yebi ceased to be the chairman of the Board but remains an executive Director; Mr. Niu Zhongjie ceased to be the CEO but remains an executive Director; and Mr. Liu Xue Heng was appointed as the chairman of the Board and the CEO. Mr. Liu, aged 42, has been appointed as an executive Director since 25 January 2016.

He is currently an executive director, co-chief executive officer and a member of Investment and Risk Management Committee of Beijing Enterprises Medical And Health Industry Group Limited. Mr. Hu, aged 52, has been appointed as an executive Director and the chairman of the Board since 23 April 2015 and ceased to be the chairman of the Board taking effect from 8 April 2016. Mr. Hu is the founder and chairman of Vision Finance Group Limited.

Mr. Niu, aged 48, has been appointed as an executive Director and the CEO since 23 April 2015 and ceased to be the CEO taking effect from 8 April 2016. Mr. Niu obtained a bachelor degree in Business Administration from Northeast Missouri State University in May 1994.