The board of directors of Zhejiang Tengy Environmental Technology Co. Ltd. announced that due to job allocation, Mr. Qiu Jinxin was appointed by the Board to be the deputy general manager of the company and terminated his position as the general manager of the company. On 5 January 2018, the Board resolved and approved the termination of Mr. Qiu as general manager of the company and the appointment of Mr. Qiu as the deputy general manager of the company. The Board announced that, on 5 January 2018, the Board resolved and approved the appointment of Mr. Bian Yu, the chairman and executive director of the company, as the general manager of the company.