The board of directors of Yashili International Holdings Ltd. announced that Ms. Sun Yiping has tendered her resignation as a non-executive director of the company and the Chairman of the Board with effect from 15 September 2016 due to personal career development reason. Immediately following her resignation, Ms. Sun also ceased to be the chairman of the nomination committee and a member of the remuneration committee of the Board. The Board announced the appointment of Mr. Jeffrey, Minfang Lu, an executive director and the chief executive officer of the company before this appointment, as the Chairman of the Board, the chairman of the nomination committee and a member of the remuneration committee of the Board, all with effect from 15 September 2016.

At the same time, Mr. Lu has been re-designated as a non-executive director of the company. Immediately following his appointment, Mr. Lu also ceased to be the CEO in compliance with the code provision A.2.1 of the Corporate Governance Code as set out in Appendix 14 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The company is considering to appoint a new CEO if there is suitable candidate to fill this vacancy in due course and will make further announcement as and when appropriate.

During this transition period, Mr. Lu will continue to perform CEO functions and to transition this role to the new CEO to be appointed. Mr. Lu is also an authorized representative of the company as well as a director of each of following subsidiaries of the Company, namely Yashili International Ltd., Yashili International Group Limited, Newou International Co., Limited and Scient International Group Limited.