The Board of Shirble Department Store Holdings (China) Limited announced that Mr. LI Kuansen has been appointed as an executive Director and the chief executive officer of the Group effective from 31 December 2012. Mr. YANG Xiangbo will cease to be the acting chief executive officer of the Group effective from the same date. Mr. LI, aged 37, joined the Group in February 2012 as a vice president and the chief operating officer of the Group.

Mr. LI was responsible for operations, procurement, and marketing and supply chain of the Group. Following the appointment as an executive Director and chief executive officer of the Group, Mr. LI will be responsible for overseeing the business operations of the Group and formulating the business strategy of the Group. Mr. LI has over 16 years of experience in managing the business operations of supermarkets and department stores in the PRC.