The board of directors of Daohe Global Group Limited announced that Mr. ZHANG Li resigned as an executive Director and the Co-Chairman of the Board with effect from 12 July 2016 due to his decision to devote more time to his other commitments. Upon his resignation, he ceased to act as a member of the executive committee of the Board. Mr. Zhang has confirmed to the Board that he has no disagreement with the Board and that there are no other matters relating to his resignation that need to be brought to the attention of the holders of securities of the company.