CSPC Pharmaceutical Group Limited announced that Mr. Cai Dongchen has ceased to act as the Chief Executive Officer of the Company in order to focus his time and effort more on the strategic level of the Company and facilitate the arrangement to separate the roles of Chairman and CEO so as to maintain a high standard of corporate governance. Mr. Cai remains as an executive director and Chairman of the Company. Mr. Zhang Cuilong, an executive director, Vice-Chairman and Rotating CEO of the Company, has been appointed as CEO. Mr. Zhang, aged 53, was appointed as an executive director of the Company in 2018 and was appointed as Vice-Chairman and Rotating CEO on 21 May 2019. He is also a director of certain subsidiaries of the Company. Mr. Zhang holds a bachelor's degree in pharmacology from Hebei Medical College (now known as Hebei Medical University) and has extensive technical, marketing and management experience in the pharmaceutical industry.