The Board of Founder Holdings Ltd. announced that Mr. Fang Zhong Hua, Ms. Yi Mei and Ms. Liu Yu Xiao resigned as executive Directors with effect from 1 March 2016. The reason for resignation of Mr. Fang Zhong Hua is his intention to concentrate on his own business engagement. The reason for resignation of Ms. Yi Mei and Ms. Liu Yu Xiao is to devote more time on their respective personal commitments.

Mr. Liu Jian, Ms. Sun Min and Ms. Luo Yan were appointed as executive Directors with effect from 1 March 2016. Due to the resignation of Mr. Fang Zhong Hua as the executive Director on 1 March 2016, Mr. Fang Zhong Hua also ceased to be the Chairman of the Board, the member and Chairman of the nomination committee of the Company and the member of the remuneration committee of the Company with effect from 1 March 2016. Professor Xiao Jian Guo was appointed to replace Mr. Fang Zhong Hua as the Chairman of the Board, the member and Chairman of the nomination committee of the Company and the member of the remuneration committee of the Company with effect from 1 March 2016.

Mr. Fang Zhong Hua and Ms. Yi Mei also ceased to be the authorised representatives of the Company under Rule 3.05 of the Listing Rules with effect from 1 March 2016.