The board of directors of China Pioneer Pharma Holdings Limited announced that with effect from 1 January 2015, Mr. Li Xinzhou has resigned as the chief executive officer of the company with an aim to achieve better corporate governance of the company. Mr. Li will continue to be an executive director and the chairman of the company; Mr. Lu Yuan has resigned as a non-executive director for his other business engagement; and Mr. Zhang Wenbin has resigned as a non-executive director for his other business engagement. The Board announced that with effect from 1 January 2015, Mr. Wang Yinping has been appointed as an executive director and the chief executive officer of the company.

Mr. Wang is also the chairman of the board of Shenyang Zhiying Pharmaceutical Co., Ltd, a non-wholly owned subsidiary of the company. Mr. Zhang has resigned as a member of the remuneration committee of the Board; and Mr. Wu Mijia, a non-executive director of the Company, has been appointed as a member of the remuneration committee of the Board.