The Board of Directors announced that Mr. Chang Tao has been appointed as an independent non-executive director and a member of each of the audit committee and remuneration committee and chairman of the nomination committee of the company with effect from 21 March 2014. Mr. Chang has entered into an appointment letter with the company for a term of three years commencing from 21 March 2014 and subject to retirement by rotation and re-election at annual general meeting of the company in accordance with the articles of association of the company. Mr. Chang currently serves as the chief risk officer of Zibo Rongxin Financing Bonding Co.

Ltd.