This board of directors of Yihai International Holding Limited announced that Mr. Shi Yonghong was appointed as the chairman of the company and chairman of the nomination committee of the company in place of Mr. Gou Yiqun with effect from 14 November 2017 as Mr. Gou wants to devote more time for business affairs which do not compete with the business of the company. Both Mr. Shi and Mr. Gou will remain as non-executive directors of the company. Mr. Shi Yonghong, aged 47, was appointed as a non-executive director of the company on 7 March 2016. Mr. Shi is one of the founders of the Haidilao Group and has over 20 years of food industry and management experience within the Haidilao Group. He has been a director of the company since December 2015 and is primarily responsible for participating in making major decisions for the company.