The board of directors of BaWang International (Group) Holding Limited announced that Ms. Wan Yuhua has resigned as an executive director, chief executive officer and member of the remuneration committee of the board with effect from December 9, 2015. Ms. Wan's resignation is made after due consideration as she may consider to pursue her personal business which will not be in competition with any businesses of the Company and its subsidiaries. The Board announced that Mr. Chen Zheng He, the Executive Director of the Company, has been appointed as the Chief Executive Officer and Remuneration Committee Member with effect from December 9, 2015.