The board of directors of Red Star Macalline Group Corporation Ltd. announced that Mr. ZHOU Qinye has tendered his resignation as an independent non-executive director, a member of the audit committee and the chairman of the remuneration and evaluation committee of the Company. Mr. Zhou once served as a member of the senior management of the Shanghai Stock Exchange. Mr. Zhou, on his own initiative, tendered his resignation. His resignation will take effect upon the appointment of a new independent non-executive director to replace him. On 28 March 2016, the Board has resolved to approve the nomination of Mr. Qian Shizheng as an independent non-executive director, a member of the Audit Committee and a member of
the Remuneration Committee. The appointment of Mr. Qian Shizheng as an independent non- executive director of the Company is subject to the approval of the shareholders of the Company at the extraordinary general meeting to be held on Tuesday, 19 April 2016.