The board of directors of China Pioneer Pharma Holdings Limited announced that with effect from 1 January 2019. Mr. Zhu Mengjun has resigned as an executive Director and the chief executive officer of the Company due to his other personal engagements; Mr. Xu Zhonghai has resigned as an independent non-executive Director due to his other personal engagements; and Mr. Lai Chanshu has resigned as an independent non-executive
Director due to his other personal engagements. Following the resignation of Mr. Zhu, Mr. Li Xinzhou, the chairman of the Board and an executive Director, will perform the functions of the chief executive officer of the Company on a temporary basis until the Company appoints its next chief executive officer. The Board announced that with effect from 1 January 2019: Mr. Zhang Hong has been appointed as an independent non- executive Director; and Mr. Yan Guoxiang has been appointed as an independent non-executive Director. Mr. Zhang is an expert in public security governance. Prior to joining the Group, he served in a shipping organisation in the PRC for 38 years since 1980. He held various senior positions at such organisation, and was mainly responsible for handling political and legal matters and administration management. Mr. Yan is experienced in corporate management. Mr. Yan has been also the president of Shanghai Xiangren New Material Co. Ltd. since 2009 and Shanghai Qianjin New Material Co. Ltd. 2015. From 1996 to 2007, he served Kennametal Shanghai Co. Ltd. and held various senior positions in Kennametal Shanghai including the regional manager of Northern China and its national operation director.