Shougang Concord Grand : CHANGES OF DIRECTORATE AND COMMITTEES’ MEMBERS AND LIST OF DIRECTORS AND THEIR ROLES AND FUNCTIONS (PDF；49KB；4 pages)

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首長四方（集團）有限公司*

SHOUGANG CONCORD GRAND (GROUP) LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 730)

CHANGES OF DIRECTORATE AND COMMITTEES' MEMBERS

AND

LIST OF DIRECTORS AND THEIR ROLES AND FUNCTIONS

CHANGES OF DIRECTORATE AND COMMITTEES' MEMBERS

The board of directors (the "Board") of Shougang Concord Grand (Group) Limited (the "Company") announces that:

• 1. Mr. Xu Liang ("Mr. Xu") has resigned as the Managing Director of the Company with effect from 6 January 2018 but remains as the Chairman of the Board, the chairman of each of the Executive Committee and Nomination Committee and a member of the Remuneration Committee;

• 2. Mr. Liu Dongsheng ("Mr. Liu") has been appointed as an Executive Director and the Managing Director of the Company as well as a member of the Executive Committee with effect from 6 January 2018;

• 3. Mr. Yang Junlin ("Mr. Yang") has resigned as an Executive Director and the Deputy Managing Director of the Company with effect from 6 January 2018 and will ipso facto cease to be a member of the Executive Committee from the same date; and

• 4. Mr. Yuan Wenxin ("Mr. Yuan") has resigned as an Executive Director and the Deputy Managing Director of the Company with effect from 6 January 2018 and will ipso facto cease to be a member of the Executive Committee from the same date.

Mr. Liu, aged 51, holds a bachelor degree in Department of Biology in Beijing Normal University, a double degree in economics (Distance Learning) in Beijing Construction Engineering College and a master degree in business administrative in Institute of NHTV Breda University of Applied Sciences. Mr. Liu was an independent director of Zhejiang Canaan Technology Co., Ltd., a listed company in Shenzhen Stock Exchange, from August 2014 to April 2016. He was also the supervisor of the department of securities and capital operation of Beijing Energy Investment Holding Co., Ltd., the managing director of theinvestment department and head of strategic client division in China Merchants Securities (HK) Co., Ltd., and the legal representative and general manager of Shenzhen Merchants Zhiyuan Consulting Company Limited. Mr. Liu has extensive experience in finance and securities, assets management, research and investment.

A service agreement will be entered into between Mr. Liu and a wholly-owned subsidiary of the Company for a term commencing on 6 January 2018 and ending on 31 December 2019. Under the service agreement, Mr. Liu is entitled to a salary and discretionary bonus as may be determined by the Board or its delegated committee(s) from time to time. For the financial year 2018, Mr. Liu's monthly salary is HK$220,000. Such salary was determined by the Remuneration Committee with reference to Mr. Liu's experience and duties as well as the then prevailing market conditions.

As at the date of this announcement and within the meaning of Part XV of the Securities and Futures Ordinance, Mr. Liu does not have any interests in the shares of the Company.

In accordance with the bye-laws of the Company, Mr. Liu will hold office until the next general meeting of the Company, at which time he will be eligible for re-election. Thereafter, Mr. Liu will not be subject to rotation requirements as contained in the bye-laws of the Company. However, he will voluntarily retire from office by rotation at least once every three years in order to comply with the second part of code provision A.4.2 of the Corporate Governance Code (the "Corporate Governance Code") as set out in Appendix 14 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

Save as disclosed above, Mr. Liu does not hold any directorships in other Hong Kong or overseas listed public companies in the last three years. He does not have any relationship with any directors, senior management or substantial or controlling shareholders of the Company. There is no information relating to the appointment of Mr. Liu which is discloseable nor is/was he involved in any of the matters required to be disclosed pursuant to any of the requirements of the provisions under Rules 13.51(2)(h) to (v) of the Listing Rules, and there is no other matter that needs to be brought to the attention of the shareholders of the Company (the "Shareholders").

In order to satisfy the requirement under code provision A.2.1 of the CG Code in relation to the roles of chairman and the chief executive should be separate and should not be performed by the same individual, Mr. Xu Liang resigned as the Managing Director of the Company but remains as the Chairman of the Board, the chairman of each of the Executive Committee and Nomination Committee and a member of the Remuneration Committee.

Mr. Yang and Mr. Yuan have resigned as directors of the Company due to their other engagements. Each of Mr. Yang and Mr. Yuan has confirmed that he did not have any disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the Shareholders.

The Board would like to take this opportunity to thank for Mr. Yang and Mr. Yuan for their invaluable contributions to the Group during their tenure of services in the Company.

LIST OF DIRECTORS AND THEIR ROLES AND FUNCTIONS

With effect from 6 January 2018, the members of the Board and the membership of the four Board committees of the Company will be as follows:

Members of the Board

Executive Directors

Mr. Xu Liang (Chairman)

Mr. Liu Dongsheng (Managing Director)

Non-executive Director

Mr. Leung Shun Sang, Tony

Independent Non-executive Directors Mr. Tam King Ching, Kenny

Ms. Zhou Jianhong

Mr. Yip Kin Man, Raymond

Memberships of the four Board committees

Board Committee Director	Executive Committee	Audit Committee	Remuneration Committee	Nomination Committee
Xu Liang	C	M	C
Liu Dongsheng	M
Leung Shun Sang, Tony	M	M
Tam King Ching, Kenny	C	C	M
Zhou Jianhong	M	M	M
Yip Kin Man, Raymond	M	M	M

Notes:

• C Chairman of the relevant Board committees

• M Member of the relevant Board committees

By Order of the Board

Shougang Concord Grand (Group) Limited

Xu Liang

Chairman and Managing Director

Hong Kong, 5 January 2018

As at the date of this announcement, the Board comprises Mr. Xu Liang (Chairman and Managing Director), Mr. Yang Junlin (Deputy Managing Director), Mr. Yuan Wenxin (Deputy Managing Director), Mr. Leung Shun Sang, Tony (Non-executive Director), Mr. Tam King Ching, Kenny (Independent Non-executive Director), Ms. Zhou Jianhong

(Independent Non-executive Director) and Mr. Yip Kin Man, Raymond (Independent Non-executive Director).

* For identification purpose only