The board of directors of China Zhongwang Holdings Limited announced that, due to other commitments for the group's business development, each of Mr. CHEN Yan and Ms. ZHONG Hong has been re-designated from an executive director to a non-executive director of the Company with effect from 19 August 2016. Mr. Chen, aged 36, is a vice president of the Group. He is primarily responsible for the group's internal auditing. He is also a member of the board of directors of 18 subsidiaries including Liaoning Zhongwang Group Company Limited and Tianjin Zhongwang Aluminium Company Limited. The appointment of Mr. Chen as a non-executive director of the company is for a term of three years, subject to retirement by rotation and re-election in accordance with the articles of association of the company. Ms. Zhong, aged 51, is a vice president of the Group. She is primarily responsible for the group's production management. She is also a member of the board of directors of 9 subsidiaries including Liaoning Zhongwang Group Company Limited and Yingkou Zhongwang Aluminium Company Limited. The appointment of Ms. Zhong as a non-executive director of the Company is for a term of three years, subject to retirement by rotation and re-election in accordance with the articles of association of the company.