The board of directors of Shanghai Realway Capital Assets Management Co., Ltd. announced that Mr. Cheng Jun will step down from the position of chairman of the Board with effect from 18 January 2019 and remains as a non-executive Director of the company, in order to devote more time to explore and develop strategic opportunities for the long term growth of the Group. Mr. Zhu Ping, currently an executive Director and the chief executive officer of the company, will be appointed as the Chairman in place of Mr. Cheng with effect from 18 January 2019 (the "Re-designation"). Mr. ZHU has been the CEO and an executive Director of the company since January 2010.