The board of directors of China Energine International (Holdings) Limited announced the following changes regarding the Board: Mr. Li Guang has tender his resignation as executive director, chief executive officer, the member of the Remuneration Committee and member of the Development and Investment Committee of the Company due to rearrangement of his duties by China Academy of Launch Vehicle Technology, the controlling shareholder of the Company, with effect from 2 December 2019. The board also announced that Mr. Han Qingping, executive director of the company, has been appointed as CEO and member of the Remuneration Committee of the company with effect from 2 December 2019. Mr. Wang Guanghui has been appointed as executive director, member of the Development and Investment Committee of the Company with effect from 2 December 2019.

Mr. Wang served as head of the finance department of nineteen office of CALT from 2002 to 2009. He has been head of capital operation office and investment management office of Business and Investment Department of CALT from 2009 to 2018 and head of capital operation office of Industrial Development Department of CALT from 2018 to October 2019.