The board of directors of Shougang Concord Century Holdings Limited announced that Mr. Ye Qian will be re-designated from a non-executive Director to an executive Director of the company with effect from January 1, 2020. Mr. Ye, aged 35, was appointed as a non-executive Director of the company on 28 June 2019. He graduated from the University of Wales with a Master degree in Business Administration. Prior to joining Beijing Shougang Fund Co. Ltd., Mr. Ye had held senior positions in Great Wall Motor Company Limited, China Chamber of International Commerce and Representative Office in Hong Kong & Macao of China Council for the Promotion of International Trade. Since he joined Shougang Fund in 2014, he had served as an assistant to general manager of Beijing West Fund Management Co. Ltd. and a deputy director of PPP Fund of Shougang Fund. He has participated in establishment and investment of numerous funds. He currently serves as an executive director of Shougang Fund and a general manager of Beijing Shouyuan Xinneng Investment Management Co. Ltd. In all, he has rich experience in automobile OEM industry, government authorities and foreign-related business management department and also in corporate services and project investment. The board appointed Mr. Li Jinping as an executive Director of the company with effect from January 1, 2020. Mr. Li Jinping, aged 43, graduated from Shandong University of Finance and Economics with a Master degree in Accounting. He is the senior accountant and a Public Valuer. Mr. Li had worked in Beijing Supervision Bureau of Ministry of Finance of the People's Republic of China for approximately 18 years and held various senior positions including the deputy division director and division director. He was principally engaged in the work relating to supervision, inspection, risk control management and so on. In 2019, he joined Shougang Holding (Hong Kong) Limited which is a substantial shareholder of the Company within the meaning of Part XV of the SFO and currently serves as a financial controller of Shougang HK. In all, he has extensive experience and expertise in financial supervision and risk control. The board appointed Mr. Feng Yaoling as an independent non-executive Director of the Company and a member of each of the audit committee of the company, nomination committee of the company and remuneration committee of the company with effect from January 1, 2020. Mr. Feng, aged 62, a professor-level senior engineer who is awarded special government subsidy by the State Council of the People's Republic of China as a specialist. He graduated from Beijing University of Chemical Technology with a Bachelor degree in Engineering in January 1982. He is currently a chief engineer of Eve Rubber Institute Co. Ltd. He has over 35 years of extensive experience in the tyre manufacturing industry. He was previously the chief engineer, senior engineer, deputy general manager cum chief engineer and director of Aeolus Tyre Co. Ltd. from 1982 to 2017. Aeolus Tyre was listed on the main board of the Shanghai Stock Exchange in October 2003. The board also announced that Mr. Law, Yui Lun will resign as an independent non-executive Director and a member of each of the Audit Committee, Nomination Committee and Remuneration Committee with effect from 1 January 2020 in order to dedicate more time to his other commitments.