The board of directors of Qingdao Port International Co., Ltd. announced that due to his age, Mr. ZHENG Minghui tendered his resignation letter to the Board on 29 January 2019 to the effect that Mr. ZHENG Minghui will resign as an executive director of the company, the chairman of the Board, the chairman of the strategy and development committee of the Board and a member of the nomination committee of the Board. The resignation letter of Mr. ZHENG Minghui was delivered to the Board and took immediate effect and will not result in the member of the Board being below the legal minimum number. Mr. JIAO Guangjun, the vice chairman of the Board, will perform the duties of the chairman of the Board and the legal representative of the company from 29 January 2019 until the election of the new chairman of the Board. The Board announced that on 29 January 2019, Mr. JIAO Guangjun was appointed as a member of the Nomination Committee, with a term ending on the date of the expiration of the Board of the second session. Following the resignation of Mr. ZHENG Minghui as an executive Director and the chairman of the Board, with effect from 29 January 2019, Mr. ZHENG Minghui will cease to act as the authorised representative of the Company under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited as well and Mr. JIAO Guangjun has been appointed in place of Mr. ZHENG Minghui as the Authorised Representative, with effect from 29 January 2019. Immediately after the aforesaid change, the Authorised Representatives are Mr. JIAO Guangjun, a non-executive Director and vice chairman of the Board, and Mr. CHEN Fuxiang, the sole company secretary of the company.