The board of Jiangnan Group Ltd. announced that with effect from 30 May 2016, Mr. Rui Fubin has resigned as the chairman of the Board, an executive director of the company and the chairman of the corporate governance committee; and Mr. Chu Hui, an existing executive Director, the chief executive officer of the company and a member of the corporate governance committee, has been appointed as the chairman of the Board and the chairman of the Corporate Governance Committee with effect from 30 May 2016. Mr. Chu has been the company's chief executive officer and an executive Director since July 2014 and July 2013, respectively. He is also a member of the Corporate Governance Committee. Mr. Chu joined the Group on 18 July 2013.