Huabao International Holdings Limited announced that in order to cope with the requirement for long-term business planning and business development of the Company, the Company has appointed Mr. XIA Liqun as President of the Company with effect from 30 June 2020. Mr. Xia will continue to serve as the Executive Director, Vice Chairman and a member of Remuneration Committee of the Company. Mr. Xia, in addition to his previous duties, will be responsible for the daily operational management of the Group after his appointment as President. Mr. Xia will report to the Chief Executive Officer of the Company directly. Mr. Xia has been a member of the Board since September 2006. Mr. Xia has been serving the Group for many years and has managed different business sectors of the Group. Mr. Xia also serves as the Chairman of Huabao Flavors & Fragrances Co, Ltd, a subsidiary of the Company and the shares of which are listed on the ChiNext of Shenzhen Stock Exchange.