The board of directors of Zall Development Group Ltd. announced that, with effect from 23 December 2015, Ms. Wang Danli has resigned as an executive director and authorised representative of the company due to her other business commitments which require more of her dedication and time commitment. The Board announced the appointment of Mr. Wang Chuang as an
executive director of the company with effect from 23 December 2015. Mr. Wang Chuang is the vice president of the company and the executive president of North Hankou Group Co. Ltd. Mr. Wang has entered into a service contract with the company for a term of three years, and is subject to retirement by rotation and re-election at the general meetings of the company in accordance with the memorandum and articles of association of the company. The Board announced the appointment of Mr. Cui Jinfeng, currently an executive director of the company, as an authorised representative of the Company with effect from 23 December 2015.