The board of directors of COSCO SHIPPING International (Hong Kong) Co., Ltd. announced that with effect from 4 March 2020, Mr. Wang Yuhang has resigned as executive director and chairman of the Board of the Company due to change of work designation, on the same day, Mr. Zhu Jianhui, executive director, vice chairman of the Board and managing director of the Company, has been re-designated from vice chairman to chairman of the Board of the Company. Mr. Wang Yuhang has confirmed that there was no disagreement with the Board and there was no other matter regarding his resignation that would need to be brought to the attention of the shareholders of the Company.