The board of directors (the "Board") of Shougang Concord Grand (Group) Limited (the "Company") announced the following changes in directorships of the Company with immediate effect: Mr. Liang Hengyi ("Mr. Liang") has been appointed as executive director (the "Executive Director") and member of the Executive Committee of the Board (the "Executive Committee") of the Company. Mr. Liang, aged 48, joined the Company in March 2021 served as General Manager. He served as managing director, executive director and member of each of the executive committee and the nomination committee of Shoucheng Holdings Limited (the "Shoucheng Holdings", stock code: 697).

Mr. Liang also served as managing director of Beijing Shougang Fund Co. Ltd., the general manager of non-fare business unit of Beijing Infrastructure Investment Co. Ltd., the general manager of Beijing Capital Investment Rail Transit Assets Management Company and the president of Beijing Urban Underground Space Development and Construction Co.

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