The board of directors of Red Star Macalline Group Corporation Ltd. announced that a resolution was passed at the Board meeting held on January 8, 2016, which proposed to appoint Mr. LI Bin to be the vice general manager of the company and as suggested by Mr. CHE Jianxing, the Chief Executive Officer of the company, proposed to appoint Mr. LI Bin to be the president of the company, with the same term of office as the current session of the Board. Mr. LI Prior to January 2005, Mr. LI Bin served as an account director of Hefei Rongshida Group Co. Ltd. prior to September 2015, he served as the deputy chief operating officer and the executive president of the operational headquarter of Suning Commerce Group Co.

Ltd. Mr. LI Bin has joined the company since January 2016.