Zhejiang Yonglong Enterprises Co. Ltd. approved the appointment of Mr. Wang Xinyi as an executive Director and to authorise the Board to enter into a service contract with Mr. Wang, Ms. He Lianfeng as an executive Director and to authorise the Board to enter into a service contract with Ms. He, Ms. Wang Ai Yu as a Supervisor and to authorise the Board to enter into a service contract with Ms. Wang at the EGM was held on 10 March 2014. The Board announced that Mr. Ru Guan Jun and Mr. Xia Xian Fu both executive Directors, have retired at the EGM.

Mr. Ru and Mr. Xia confirmed that they have no disagreement with the Board and they are not aware of any other matters relating to their retirement that need to be brought to the attention of the Shareholders.