The Board of Shougang Fushan Resources Group Limited also announced that Mr. Liu Qingshan (Mr. Liu), an Executive Director, retired by rotation at the Annual General Meeting and did not offer himself for re-election as he wishes to devote more time to the project development of the Group. As a result, he ceased to be an Executive Director, deputy managing director of the Company and a member of the Executive Committee upon the conclusion of the Annual General Meeting. Mr. Liu will continue to serve within the Group.