Global Bio-chem Technology Group Company Limited announced that Ms. Liu Fang has ceased to be an executive Director, member of the corporate governance committee of the company and the chief financial officer of the company upon her retirement by rotation from the Board at the Annual General Meeting held on June 6, 2016, due to her wish to focus on other career opportunities. The Board further announced that following the cessation of Ms. Liu Fang as a member of the Corporate Governance Committee, with effect from 6 June 2016, Mr. Li Shuguang has been appointed as a member of the Corporate Governance Committee.