China Assurance Finance Group Limited's board announced the following changes to the Board with effect from 20 January 2016, Mr. Chang Xi Min has resigned as a non-executive Director and the chairman of the Company; Mr. Chen Xiao Li has resigned as an executive Director; Mr. Pang Man Kin Nixon, an executive Director, has been re-designated from the vice chairman to the chairman of the Company; and Mr. Chang Hoi Nam, an executive Director and chief executive officer of the Company, has been appointed as the vice chairman of the Company. Mr. Chang and Mr. Chen have confirmed that each of them has no disagreement with the Board and there is no matter relating to their resignations that need to be brought to the attention of the shareholders of the Company.