The Board of Changhong Jiahua Holdings Limited announced that Ms. Shi Ping has tendered her resignation as executive Director with effect from 31 May 2018 in order to devote more time to her retirement. Ms. Shi Ping has confirmed that she had no disagreement with the Board and there was no matters relating to her resignation that need to be brought to the attention of the Shareholders. Upon the resignation of Ms. Shi Ping, the Board further announced that Mr. Luo Yongping has been appointed as executive Director with effect from 1 January 2019. The biographical Mr. Luo, aged 43, has over 10 years' experience in corporate management. He holds a management position in Sichuan Provincial Investment Group Co. Ltd.("Sichuan Provincial Investment Group") and serves as directors in certain subsidiaries of Sichuan Provincial Investment Group (such as Sichuan Investment Management Co. Ltd.). Mr. Luo has entered into a service contract with the Company with no fixed term, and is terminable by either party giving not less than one month's written notice or payment in lieu. Mr. Luo is also subject to retirement by rotation and re-election at the annual general meetings of the Company in accordance with the bye-laws of the company.