Shandong Chenming Paper Holdings Ltd. board received applications for resignation in writing from Mr. Shao Zhenzhong and Mr. Chang Liting, both were members of the senior management of the company. Mr. Shao Zhenzhong resigned as a deputy general manager of the company for personal reasons and ceased to hold any position in the company thereafter. Mr. Chang Liting resigned as a deputy general manager of the company since he had reached the statutory retirement age and ceased to hold any position in the company thereafter.

At present, the handover works of Mr. Shao Zhenzhong and Mr. Chang Liting have completed and therefore their resignation does not cause any impact on the normal production and operation of the company.