The board of directors of Shougang Concord International Enterprises Company Limited announced that: Mr. Zhang Bingcheng (Mr. Zhang) has resigned as a Non-executive Director of the company and the Chairman of the Board with effect from 6 January 2018 and will ipso facto cease to act as the chairman of the Nomination Committee of the company from the same date; Mr. Zhao Tianyang has been appointed as an Executive Director of the company and the Chairman of the Board as well as the chairman of each of the Executive Committee and the Nomination Committee of the company with effect from 6 January 2018; Mr. Li Shaofeng has been re-designated from the Managing Director of the company to the Vice Chairman of the Board and from the chairman to a member of the Executive Committee of the company with effect from 6 January 2018. Mr. Li remains as an Executive Director of the company and a member of the Remuneration Committee of the company; Mr. Liang Hengyi has been appointed as an Executive Director and the Managing Director of the company as well as a member of each of the Executive Committee and the Nomination Committee of the company with effect from 6 January 2018; Mr. Ding Rucai has resigned as an Executive Director and a Deputy Managing Director of the company with effect from 6 January 2018 and will ipso facto cease to act as a member of the Executive Committee of the company from the same date; Mr. Liu Jingwei has been appointed as a Non-executive Director of the company as well as a member of the Audit Committee of the company with effect from 6 January 2018; Dr. Li Yinhui has been appointed as a Non-executive Director of the company as well as a member of each of the Audit Committee and the Remuneration Committee of the company with effect from 6 January 2018; and Ms. Zhang Quanling has been appointed as an Independent Non-executive Director of the company as well as a member of each of the Nomination Committee and the Remuneration Committee of the company with effect from 6 January 2018. Mr. Zhao Tianyang, joined Shougang Group Co.

Ltd. (Shougang Group) in December 2011. Mr. Li Shaofeng was the chairman of each of Shougang Concord Grand (Group) Limited and Global Digital Creations Holdings Limited from May 2010 to June 2017 and a director of China Dynamics (Holdings) Limited from October 2007 to November 2015, all of Shougang Grand, GDC and China Dynamics. Mr. Liang Hengyi was the managing director of Shougang Fund, a wholly-owned subsidiary of Shougang Group.

Mr. Liu Jingwei was an independent director of Jinxi Axle Company Limited and was an independent director of Xuzhou Kerong Environmental Resources Co. Ltd. Dr. Li Yinhui is a non-executive director and the chairman of China Fire Safety Enterprise Group Limited and is the vice-president of China International Marine Containers (Group) Co. Ltd. Ms. Zhang Quanling currently is the founding partner of Ziniu Fund.