The Board of Zhejiang Yonglong Enterprises Co., Ltd. announced that it was informed by Mr. Wang Xinyi that he will resign as an executive Director, the Chairman of the company, the legal representative of the company and a member of the remuneration committee of the company for personal development with effect from the date of the EGM. The Board also announced that it was informed by Ms. He Lianfeng that she will resign as the deputy chairman of the company with effect from the date of the EGM but will remain as an executive Director, the chief executive officer of the company and a member of the nomination committee of the company. The Board announced that Mr. Jiang Ning and Mr. He Weifeng are nominated as executive Directors by Guizhou Yongan Finance Holdings Company Ltd. The Board also proposed to elect Mr. Jiang as the Chairman and Mr. He as the Deputy Chairman upon their appointment as executive Directors becoming effective. Pursuant to the Articles of Association, the appointment of Director will only become effective after obtaining approval from the Shareholders at a general meeting and the legal representative of the company is the chairman of the Board. As such, ordinary resolutions will be proposed at the EGM to appoint Mr. Jiang and Mr. He as executive Directors and upon passing of these resolutions by the Shareholders at the EGM, the appointment of Mr. Jiang and Mr. He as Chairman and Deputy Chairman, respectively, will take effect on the date of EGM, and the Legal Representative shall change accordingly from Mr. Wang to Mr. Jiang, and Mr. He will be appointed as a member of the remuneration committee of the company. The biographical details of Mr. Jiang are as follows: Mr. Jiang Ning, aged 45, is currently a vice general manager of Guizhou Yongan, which has been the immediate holding company of the company since November 14, 2016. The biographical details of Mr. He are as follows: Mr. He Weifeng, aged 36, the son-in-law of Mr. Zhou Yongli. Mr. Zhou is the controlling shareholder of Zhejiang Yongli Industrial Group Limited, which is the ultimate holding company of the company.
Zhejiang Yongan Rongtong Holdings Co., Ltd. is a China-based company principally engaged in the manufacture and sales of woven fabrics. The Company operates through two segments. Woven Fabrics segment is engaged in the manufacture and sales of woven fabrics. Its products include cotton products, polyester products, spandex products and fashion fabrics, among others. Subcontracting Services segment is engaged in the provision of subcontracting services. The Company operates its businesses in the Peopleâs Republic of China (PRC), Europe, the Middle East and other overseas regions.
ZHEJIANG YONGAN RONGTONG HOLDINGS CO., LTD. 
