The board of directors of Sinofert Holdings Limited announced that Mr. NING Gao Ning has resigned as a non-executive director and the Chairman of the Board of the company with effect from 8 December 2016 due to his intention to focus on his other work commitments and engagements. Mr. WANG Hong Jun has resigned as an executive director, the Chief Executive Officer and the Chairman of the Corporate Governance Committee of the company, and Mr. QIN Hengde has been appointed as an executive director, the Chief Executive Officer and the Chairman of the Corporate Governance Committee of the Company; and the Board further announced that Mr. ZHANG Wei has been appointed as a non- executive director and the Chairman of the Board of the company with effect from 8 December 2016. Mr. Qin was a director of GMG Global Ltd. from September 2008 to November 2016, and the non-executive chairman of such company from January 2015 to November 2016.

Mr. Zhang served as the executive vice president and president of China National Seed Group Co. Ltd. From April 2012 to May 2016, he served as the president of Sinochem Petroleum Exploration and Production Co. Ltd. Starting from September 2009, Mr. Zhang has been working with Sinochem Group and Sinochem Corporation, serving as the assistant to president and vice president for both companies.

Mr. Zhang is currently the president and a director of each of Sinochem Group and Sinochem Corporation. He also serves as the chairman of the board of directors and the president of Sinochem American Holdings Inc., the chairman of the board of directors of Sinochem Europe Holdings Plc, the president of Sinochem Oil Co. Ltd., and the president of Sinochem Industries Co.

Ltd. Mr. Zhang is a senior economist, and has rich experience in chemical engineering and corporate operation and management.