The board of directors of Xingye Copper International Group Limited announced that Mr. Dai Jianchun ("Mr. Dai") has been re-designated from an independent non-executive director of the Company to a non-executive director of the Company and has resigned as the chairman and a member of the remuneration committee of the Company with effect from 17 August 2015. Mr. Dai will remain as a member of each of the nomination committee and audit committee of the Company. Dr. Lou Dong
has been appointed as an independent non-executive director, the chairman and a member of the remuneration committee and a member of the nomination committee
of the Company with effect from the same day. Mr. Dai has been an independent non-executive director of the Company since 19 January 2015 until he was re-designated as a non-executive director of the Company with effect from 17 August 2015. Mr. Dai was the chairman and a member of the remuneration committee of the Company from 19 January 2015 to 17 August 2015 and has been a member of each of the nomination committee and audit committee of the Company since 19 January 2015. Dr. Lou worked as an assistant professor in Finance at the London School of Economics and Political Science from 2009-2015, where he is currently an associate professor (tenured professor) in Finance. Dr. Lou is a researcher at the Centre for Economic Policy Research in the United Kingdom from 2013 to the present and an associate editor at Management Science and Journal of Empirical Finance from 2014 to the present.