The board of directors of Regal International Airport Group Company Limited announced that Mr. Liao Hongyu, due to work reallocation, has tendered his resignation from his positions as the chairman of the Board, the authorized representative of the Company and a member of nomination committee of the Board with effect from 10 October 2018. The Board also announced that as Mr. Hu Wentai has attained the age of retirement, he has tendered his resignation from his positions as a non-executive Director with effect from the date of the extraordinary general meeting to be held by the Company on 3 December 2018 and as the vice chairman of the Board and a member of strategic committee of the Board with effect from 10 October 2018. The Board announced that, according to the Board meeting held on 10 October 2018, Mr. Wang Zhen has been appointed as the chairman of the Board, the authorized representative of the Company and a member of nomination committee and strategic committee of the Board by the Board with effect from 10 October 2018. Mr. Wang was appointed as the chairman of the Board, the authorized representative of the Company and a member of nomination committee and strategic committee of the Board for a term commencing from 10 October 2018 to the expiry of his term of office as an executive Director, subject to re-election in accordance with the articles of association of the Company or pursuant to the Rules Governing the Listing of Securities on the Stock Exchange. The Board announced that, according to the Board meeting held on 10 October 2018, Mr. Liao has been appointed as the vice chairman of the Board by the Board with effect from 10 October 2018. Considering that Mr. Liao will not hold any executive position in the Company upon his resignation as the chairman of the Board, the authorized representative of the Company and a member of nomination committee of the Board on 10 October 2018, the Board also resolved to re-designate Mr. Liao from an executive Director to a non-executive Director with effect from the same date. Mr. Liao was appointed as the vice chairman of the Board and re-designated as a non-executive Director for a term commencing from 10 October 2018 to the expiry of his term of office as a Director (i.e. 29 January 2021), subject to re-election in accordance with the Articles of Association or pursuant to the Listing Rules. The remuneration of Mr. Liao as a non-executive Director will be determined according to the remuneration policies as approved at the annual general meeting of the Company. Subject to the approval by the Shareholders at the EGM, the Board proposes to appoint Mr. Yu Yan as an executive Director with effect from the date of the EGM. Mr. Yu will be appointed as an executive Director for a term of three years commencing on the grant of approval at the EGM, subject to re-election in accordance with the Articles of Association or pursuant to the Listing Rules. The remuneration of Mr. Yu as an executive Director will be determined according to the remuneration policies as approved at the annual general meeting of the Company. The Board announces that Mr. Yang Xiao, due to the work reallocation, has tendered his resignation from his positions as an independent representative supervisor and the chairman of supervisory committee of the Company with effect from the date of the EGM Subject to the approval by the Shareholders at the EGM, the Board proposes to appoint Mr. Ren Mingqi as an independent representative supervisor of the Company with effect from the date of the EGM. Mr. Ren will be appointed as an independent representative supervisor of the Company for a term of three years commencing on the grant of approval at the EGM, subject to re-election in accordance with the Articles of Association or pursuant to the Listing Rules. The remuneration of Mr. Ren as an independent representative supervisor of the Company will be determined according to the remuneration policies as approved at the annual general meeting of the Company.