The board of directors of CSSC (Hong Kong) Shipping Company Limited announced that, with effect from 29 April 2020: due to the re-assignment of position, Mr. Yang Li ("Mr. Yang") will resign as the chairman of the Board, an executive Director and the chairman of the nomination committee of the Company (the "Nomination Committee"); and Mr. Zhong Jian ("Mr. Zhong") will be re-designated as an executive Director, appointed as the chairman of the Board and re-designated as the chairman of the Nomination Committee. Mr. Yang confirmed that he had no disagreement with the Board and there was no matter relating to his resignation that needed to be brought to the attention of the shareholders of the Company (the "Shareholders"). The Board would like to take this opportunity to express its gratitude to Mr. Yang for his outstanding contribution to the Group during his tenure of office and welcome Mr. Zhong in his new capacity.