Taizhou Water Group Co., Ltd. announced that Mr. Yan Chuanhua has submitted his resignation as the positions of the chairman of the Board, an executive director, the chairman of the nomination committee of the Board and the strategy committee of the Board and a member of the remuneration committee of the Board due to job reassignment. Mr. Yan Chuanhua's resignation will take effect from the approval by the shareholders of the Company at the Shareholders' general meeting of the Company of the proposed appointment of Mr. Yang Jun as an executive director. Mr. Yan Chuanhua has confirmed that he has no disagreement with the Board and no matters concerning his resignation need to be brought to the attention of The Stock Exchange of Hong Kong Limited and the Shareholders. The Board has confirmed that there are no matters concerning Mr. Yan Chuanhua's resignation which are needed to be brought to the attention of the Shareholders. The Board proposed to elect Mr. Yang Jun as an executive director of the Company and replace Mr. Yan Chuanhua as Chairman, chairman of the Nomination Committee and the Strategy Committee and a member of the Remuneration Committee for a term commencing from the date of approval by the Shareholders at the Shareholders' general meeting of the Company until the expiration of the term of the fourth session of the Board. Mr. Yang Jun has confirmed that he has no disagreement on such nomination. Mr. Yang has been serving as the deputy county governor and party leader of the People's Government of Tiantai Province since March 2018.