The board of directors of Kasen International Holdings Limited announced that Mr. Sun Hongyang has tendered his resignation as an executive Director, a member of the remuneration committee of the Company and the chief financial officer of the Company with effect from June 30, 2017 as he would like to devote more of his time on his other business commitments. And Ms. Zhou Xiaohong has been appointed as an executive Director and a member of the Remuneration Committee with effect from June 30, 2017. Zhou Xiaohong joined the Group in 1995 as the cashier, treasury manager and vice president of the Group.

Ms. Zhou is currently the vice president of the Group in charge of the treasury operation, information centre and organizational promotional work. The Board also announced that, Mr. Peng Weijun has been appointed as the Chief Financial Officer with effect from June 30, 2017. As the Chief Financial Officer, Mr. Peng will be responsible for the overall financial management of the Group.

Peng Weijun joined the Group on June 30, 2017 as the Chief Financial Officer. Mr. Peng has over 17 years of corporate finance and accounting experience. Prior to joining the Group, Mr. Peng worked for Qianjiang Water Resources Development Co., Ltd, a company listed on the Shanghai Stock Exchange from 2004 to 2017 and held various positions as the financial accountant, the deputy manager and the finance manager of the finance department.