China Yurun Food : Announcements and Notices - Changes of Chairman of the Board, Chief Executive Officer, Directors and Member of the Board Committees and Authorised Representative

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CHINA YURUN FOOD GROUP LIMITED

中 國 雨 潤 食 品 集 團 有 限 公 司*

(Incorporated in the Bermuda with limited liability)

(Stock Code: 1068)

CHANGES OF CHAIRMAN OF THE BOARD, CHIEF EXECUTIVE OFFICER, DIRECTORS AND MEMBER OF THE BOARD COMMITTEES AND AUTHORISED REPRESENTATIVE

The board of directors (the "Board") of China Yurun Food Group Limited (the "Company", together with its subsidiaries, the "Group") would like to announce the following changes, all effective from 28 March 2019:

(1)Mr. Yu Zhangli ("Mr. Yu") has tendered his resignation as an exe cutive director, the chairman of the Board, a member of both the Nomination Committee and Remuneration Committee and an authorised representative of the Company and his roles of legal representative, chairman and/or director of the subsidiaries of the Group in the Mainland China due to personal reasons.

Mr. Yu confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited.

(2)Mr. Li Shibao ("Mr. Li") has tendered his resignation as an executive director and chief executive officer of the Company and his roles of legal representative, chairman and/or director of the subsidiaries of the Group in the Mainland China due to personal reasons.

Mr. Li confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited.

(3)Ms. Zhu Yuan ("Ms. Zhu") is appointed as an executive director, the chairman of the Board, the chief executive officer, a member of both the Nomination Committee and Remuneration Committee and an authorised representative of the Co mpany in place of Mr. Yu and Mr. Li. The biography of Ms. Zhu is set out below:

Ms. Zhu, aged 32, obtained a bachelor's degree of commerce in business economics and finance from The University of New South Wales and a master's degree of business administration from The University of Technology, Sydney. She has passed papers 1 and 6 in the Licensing Examination for Securities and Futures Intermediaries. Prior to joining the Group, Ms. Zhu has over six years of working experience in human resources, finance analysis and investment.

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The Company and Ms. Zhu have entered into a director's service contract for a term of three years, subject to retirement by rotation and re -election in accordance with the Bye-Laws of the Company. Ms. Zhu will be entitled to a remuneration of HK$2,000,000 per annum under the terms of the service contract, which is determined by reference to her qualifications, experience and performance, the profitability of the Group as well as the prevailing market conditions. Ms. Zhu is entit led to any discretionary bonus as may be determined by the Board and the remuneration committee of the Company.

Save as disclosed above, Ms. Zhu (i) does not hold any directorships in other public companies the securities of which are listed on any securi ties market in Hong Kong or overseas in the last three years; and (ii) does not have other major appointments and professional qualifications.

Ms. Zhu is the daughter of Mr. Zhu Yicai, the single largest shareholder of the Company, the Honorary Chairman of the Company, a Senior Advisor to the Board and a director of certain key operating subsidiaries of the Group. As at the date of this announcement, Ms. Zhu does not have any interests or short positions in shares, underlying shares or debenture in the shares of the Company or any of its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed above, there is no other matter that is required to be disclosed pursuant to Rules 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited or any other matters that need to be brought to the attention of the shareholders of the Company.

The Board would like to express its gratitude to Mr. Yu and Mr. Li for their valuable contributions to the Company during their tenure of office and would like to express its warm welcome to Ms. Zhu.

By Order of the Board

Yu Zhangli

Chairman

Hong Kong, 27 March 2019

As of the date of this announcement, the executive Directors are Yu Zhangli, Li Shibao, Yang Linwei and Yao Guozhong; the independent non-executive Directors are Gao Hui, Chen Jianguo and Miao Yelian.

*For identification purposes only

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