The board of directors of Cosmo Lady (China) Holdings Company Limited announced that Mr. Yang Weiqiang, nominated by Fosun Ruizhe Grace Investments Limited pursuant to the subscription agreement, has been appointed as a non-executive director of the company with effect from 17 August 2017. Mr. Yang, aged 49, is currently the chairman and president of Shenzhen Qianhai Fosun Ruizhe Asset Management Co., Limited. Mr. Yang has more than 18 years of practice experience in manufacturing industry. Prior to joining Fosun, Mr. Yang served as a senior vice president and an executive director of TCL Corporation. The Board also announced that Mr. Lu Hong Te has been appointed as an independent non-executive director of the company, a member of each of the audit committee, the remuneration committee, the nomination committee and the risk management committee of the Board with effect from 17 August 2017. Mr. Lu, aged 56, is currently a professor at the department of business administration of Chung Yuan Christian University in Taiwan, specializing in sales management and business competitive strategies.