The board of directors of China Energy Development Holdings Limited announced that resignation of Mr. Wang Yongguang as the Chairman, a non-executive director, and a member of the audit committee, the nomination committee and the remuneration committee of the company with immediate effect, due to his intention to concentrate on his own business engagement. Mr. Wang confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the company.