The board of directors of Changhong Jiahua Holdings Limited announced that with effect from 15 April 2013, Mr. Rong Dong has resigned as executive director of the company due to his other commitments. With effect from 15 April 2013, Mr. Yu Xiao has resigned as the chairman of the Board, the member and the chairman of the nomination committee of the company and the member of the remuneration committee due to his other commitments. Mr. Yu will remain as executive director of the company.

With effect from 15 April 2013, Mr. Zhao Yong has been appointed as executive director of the company, the chairman of the Board and the member and the chairman of the nomination committee of the company and Mr. Zhu Jianqiu has been appointed as executive director of the company and the member of the remuneration committee of the company. Mr. Zhao Yong currently serves in various positions within the Group, including the chairman of the board of directors of Changhong IT Information Products Co. Ltd., the chairman of the board of directors of Changhong IT Digital Technology Co.

Ltd., the chairman of the board of directors of Beijing Changhong IT Intelligence System Co. Ltd. Mr. Zhu Jianqiu is an executive director and the president of Changhong IT, a member of the Group. He is primarily responsible for the daily management of Changhong IT.

Mr. Zhu is also responsible for the implementation of the internal control measures of Changhong IT and its subsidiaries. He is also a director of Sichuan Changhong Electric. Mr. Zhu served as a director and the president of Zarva Technology (Group) Co.

Ltd. The Board also announced that, with effect from 15 April 2013, the senior management of the company will comprise one president, several vice presidents of the company have been re-designated as follows: Mr. Zhu has been appointed as the president of the company, responsible for the overall operations and management of Group. Ms. Su Huiqing has been appointed as the vice president of the company, responsible for the management of human resources and operations and management of the Group. Mr. Dong Qiang has been appointed as the vice president of the company, responsible for the management of the Group's IT consumer products distribution business.

Mr. Tang Yun, currently the managing director of the Company, has been re-designated as the vice president of the company, responsible for managing the Group's trading business of consumer electronic products and relevant parts and components. He remains as executive director of the company. With effect from 15 April 2013, Mr. Liu Jianhua has resigned as the financial controller of the company.

With effect from 15 April 2013, Mr. Zhao Qilin has been appointed as the financial controller of the company.