Shougang Concord Grand (Group) Limited announced that In order to re-comply with the requirement under code provision A.2.1 of the Corporate Governance Code as set out in Appendix 14 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in relation to the roles of chairman and the chief executive should not be performed by the same individual, Mr. Xu Liang has resigned as the Managing Director of the Company with effect from 29 March 2021. He will remain as an executive director, the Chairman of the Board, the chairman of each of the executive committee of the Board and nomination committee of the Board and a member of the remuneration committee of the Board. Mr. Liang Hengyi ("Mr. Liang") has been appointed as a General Manager of the Company. Mr. Liang holds a master degree in Economics and a Doctor of Philosophy degree in Management and is a senior economist.