The Board of First Tractor Company Limited convened a meeting on 25 April 2019 and resolved to appoint Mr. Li Xiaoyu as the chairman of the Company and Mr. Cai Jibo as the vice chairman of the Company, both with a term of office commencing on 25 April 2019 until the expiry of the term of office of the current Board (that is 28 October 2021). Due to job allocation, Mr. Wu Yong has resigned as the vice chairman of the Company and a member of the Strategic and Investment Committee with effect from 25 April 2019. Mr. Wu Yong will remain as a director of the Company. At the Board meeting on 25 April 2019, the Board also resolved to appoint Mr. Li Xiaoyu, Mr. Cai Jibo and Mr. Liu Jiguo as members of the Strategic and Investment Committee, Mr. Li Xiaoyu as the chairman of the Strategic and Investment Committee, Mr. Li Xiaoyu as a member of the Nomination Committee, and Mr. Cai Jibo as a member of the Remuneration Committee, all for a term commencing on 25 April 2019 until the expiry of the term of office of the current Board (i.e. 28 October 2021).