China Rongsheng Heavy Industries Group Holdings Limited announced that Mr. Tsang Hing Lun has retired as an independent non-executive Director pursuant to the company's amended and restated articles of association with effect from the conclusion of the 2014 AGM. Upon his retirement as an independent non-executive Director, Mr. Tsang also ceased to be the chairman of the audit committee and a member of each of the finance and investment committee and the remuneration committee of the company, all with effect from the conclusion of the 2014 AGM. The Board also announced that Ms. Zhou Zhan has been appointed as an independent non-executive Director and the chairman of the audit committee and a member of
each of the finance and investment committee and the remuneration committee of the company, all with effect from the conclusion of the 2014 AGM. Ms. Zhou is currently a partner at Beijing Promise Certified Public Accountants General Partnership. Ms. Zhou entered into an appointment letter with the company for a term of three years commencing on May 21, 2014.