The Board of Directors of China Resources and Transportation Group Limited announced that with effect from 13 December 2019, Mr. Gao, an executive director of the Company, has been appointed as the chief executive officer of the Company (the "CEO") in lieu of Mr. Jiang. Mr. Gao, aged 57, was appointed as an executive director of the Company on 17 June 2013. Since February 2014, he has served as the chairman of the board of directors of Zhunxing, and has made great contribution to the management of Zhunxing and construction of the expressway of ZhunxingThe Board also announced that with effect from 13 December 2019, Mr. Jiang has resigned as the CEO but remains as an executive director of the Company. Mr. Jiang confirmed that he has no disagreement with the Board and there are no matters that need to be brought to the attention of the shareholders of the Company or the Stock Exchange in relation to his resignation as the CEO.