The Board of Renhe Commercial Holdings Company Limited announced that Mr. Yin Jianhong (Mr. Yin) and Ms. Yang Yuhua (Ms. Yang) have been appointed as non-executive directors of the Company with effect from 31 December 2018. To cope with the remodeling of the Group's core business and Board diversity policy, the Board further announced that the following individuals have resigned as Directors with effect from 31 December 2018: Mrs. Hawken Xiu Li (Mrs. Hawken) has resigned as a non-executive director of the Company due to her other business engagements; Ms. Jiang Mei (Ms. Jiang) has resigned as a non-executive director of the Company due to her other business engagements; Ms. Zhang Xingmei (Ms. Zhang) has resigned as a non-executive director of the Company due to her desire to devote more time with her family; Mr. Zhang Dabin (Mr. Zhang) has resigned as a non-executive director of the Company due to his other business engagements; Ms. Wang Chunrong (Ms. Wang) has resigned as a non-executive director of the Company due to her desire to devote more time with her family; and Mr. Wang Shengli (Mr. Wang) has resigned as an independent non-executive director of the Company due to his other business engagements and ceased to be the chairman of each of the Company's Nomination Committee and the Company's Remuneration Committee as well as a member of the Company's Audit Committee. Subsequent to the resignation of Mr. Wang Shengli as the chairman of each of the Company's Nomination Committee and the Company's Remuneration Committee as well as a member of the Company's Audit Committee, the composition of each Board committee be changed in the following manner: Ms. Yang Yuhua has been appointed as a member of the Company's Audit Committee with effect from 31 December 2018; and Mr. Tang Hon Man, an independent non-executive director of the Company, has been appointed as the chairman of each of the Company's Nomination Committee and the Company's Remuneration Committee with effect from 31 December 2018.