The board of directors of Jiangsu Shunfeng Photovoltaic Technology Co., Ltd. announced that Mr. Wang Yu (Mr. Wang) has been appointed as an executive Director. The appointment of Mr. Wang will become effective on November 28, 2012. Mr. Wang, aged 42, has over 16 years of management experience.

Mr. Wang worked as the general manager assistant of treasury department of Hong Kong CADTIC (Group) Co., Ltd. from October 1993 to May 1995. He worked as the general manager of investment and management department of Shenzhen Yangguang Fund Management Co., Ltd. from January 1996 to May 1998. He worked as the president of Shenzhen Fenghua Telecom Co., Ltd. from June 1998 to May 2005, a director of Shenzhen New Top Founder Fund Management Co., Ltd. from May 2005 to December 2011, a vice general manager of Hong Kong Huangshan Company Anhui Co., Ltd. from August 2005 to October 2012 and a partner of Tianjin Jasmine Fund Management Co., Ltd. since July 2012.

Mr. Wang will enter into a service contract with the Company which will be effective from November 28, 2012.