The Board of Changhong Jiahua Holdings Limited announced that Mr. Yu Xiao and Mr. Wu Xiangtao have tendered their resignations as executive Directors with effect from 4 May 2017 in order to devote more time to their other business commitments. Mr. Yu Xiao and Mr. Wu Xiangtao have both confirmed that they had no disagreement with the Board and there were no matters relating to their resignations that need to be brought to the attention of the Shareholders. Upon the resignations of Mr. Yu Xiao and Mr. Wu Xiangtao, the Board announced that Mr. Li Jin and Mr. Yang Jun have been appointed as executive Directors with effect from 4 May 2017. Mr. Li, has over 18 years of experience in corporate management and is also holding managerial and directorship positions in Sichuan Changhong Electronics Holding Group Limited Company and Sichuan Changhong Electric Co. Ltd. Mr. Li was a director of Sichuan Changhong from June 2002 to May 2007, and he later reprised his role as a director in May 2014 and has been a director of Sichuan Changhong since then. Mr. Li was also a deputy general manager of Sichuan Changhong from March 2006 to November 2015. He has also been a director and a general manager of Sichuan Changhong Holding since May 2007 and November 2015, respectively. Mr. Yang, aged 47, has over 18 years of experience in corporate investment and corporate governance and is also a director of a number of subsidiaries of the Company. From February 2011 to May 2014, he was an assistant general manager of Sichuan Changhong. From April 2011 to May 2014, Mr. Yang was a chief investment officer of Sichuan Changhong. Since May 2014, he has been a deputy general manager of Sichuan Changhong. From May 2014 to August 2016, he was the secretary of the board of directors of Sichuan Changhong. The Board announces that Mr. Zhao Yong, the chairman of the Board and an executive Director, has appointed Mr. Li, a newly appointed executive Director, as his alternate director with effect from 4 May 2017. Mr. Li, being the alternate director of Mr. Zhao Yong, is not appointed for a specific term. In accordance with the bye-laws of the Company, Mr. Li will cease to be an alternate director to Mr. Zhao Yong upon Mr. Zhao Yong revoking Mr. Li's appointment or Mr. Zhao Yong ceasing to be an executive Director. There is no service agreement between Mr. Li and the Company with respect to his appointment as an alternate director to Mr. Zhao Yong. As an alternate director to Mr. Zhao Yong, Mr. Li will not receive any remuneration from the Company.