Pizu Group Holdings Limited announced that with effect from December 14, 2012, Mr. Ding Baoshan has been appointed as the chairman of the Board and an executive Director; Mr. Xiong Zeke has been appointed as the chief executive officer of the company and an executive Director; Ms. Qin Chunhong has been appointed as an executive Director; each of Ms. Zhang Lin, Ms. Liu Talin and Mr. Enhe Bayaer has been appointed as an independent non-executive Director; Mr. Li Kangying has resigned as the chairman of the Board and an executive Director; each of Mr. Wang Dongbin and Mr. Chau King Fai has resigned as a non-Executive Director; and each of Mr. Yeung Kenneth King Wah, Mr. Gao Feng and Mr. Chiang Sheung Yee Anthony has resigned as an independent non-executive Director. The Board announced that with effect from December 14, 2012, Mr. Yeung Kenneth King Wah has resigned as the chairman, and each of Mr. Gao Feng and Mr. Chiang Sheung Yee Anthony has resigned as a member, of each of the audit committee of the Board and the remuneration committee of the Board; Mr. Yeung Kenneth King Wah has resigned as the chairman, and each of Mr. Gao Feng and Mr. Cheung Jonathan has resigned as a member, of the nomination committee of the Board; Ms. Zhang Lin has been appointed as the chairman, and each of Ms. Liu Talin and Mr. Enhe Bayaer has been appointed as a member of the audit committee; Ms. Zhang Lin has been appointed as the chairman, and each of Ms. Qin Chunhong and Ms. Liu Talin has been appointed as a member of the remuneration committee; and Mr. Enhe Bayaer has been appointed as the chairman, and each of Ms. Liu Talin and Ms. Zhang Lin has been appointed as a member of the nomination committee. The Board announces that with effect from December 14, 2012, Mr. Cheung Jonathan has resigned and Mr. Xiong Zeke has been appointed as one of the authorised representatives of the company.

The Board announces that with effect from December 14, 2012, Mr. Cheung Jonathan has resigned and Ms. Qin Chunhong has been appointed as the compliance officer of the company.