The board of directors of Kasen International Holdings Limited announced that, Ms. Shen Jianhong has tendered her resignation as an executive Director, a member of the nomination committee of the Company and one of the authorised representatives of the Company with effect from 28 February 2020 in pursuit of her personal commitments. The Board further announced that, in order to enhance the Company's corporate governance practices and enable the Company to better comply with the code provision in the Corporate Governance Code as set out in Appendix 14 of the Listing Rules which provides, among other matters, that the roles of the chairman and the chief executive officer should be separate and should not be performed by the same individual, Mr. Zhu Zhangjin, who is currently the chairman of the Board, the chief executive officer of the Company and an executive Director, has resigned and will step down from the position as the CEO with effect from 28 February 2020. Upon his resignation as the CEO, Mr. Zhu Zhangjin continues to hold the office as the chairman of the Board and an executive Director.

The Board announced that, following the resignation of Ms. Shen Jianhong as an executive Director, a member of the Nomination Committee and the Authorized Representative; and the resignation of Mr. Zhu Zhangjin as the CEO, Mr. Zhu Ruijun has been appointed as an executive Director, member of the Nomination Committee, the CEO and the Authorized Representative with effect from 28 February 2020. Mr. Zhu Ruijun has been appointed as the CEO with effect from 28 February 2020. Prior to joining the Company, Mr. Zhu Ruijun has served successively as Secretary of Communist Youth League of Haining, Zhejiang Province, secretary of the party committee of Guodian town of Haining, Vice Mayor of Pinghu Municipality, Zhejiang Province, Mayor of Lanxi Municipality and Secretary of Lanxi Municipal Committee of the CPC, Zhejiang Province, vice secretary-general of Jinhua Municipal Committee of the CPC, Zhejiang Province.

Mr. Zhu Ruijun achieved a postgraduate diploma in economy from Zhejiang Provincial Committee Party School in 2002.