The Board of Zhongzheng International Company Limited announced that with effect from 17 December 2020, Mr. Zhang Youjun has resigned as an executive Director of the Company; and Mr. Gao Yuxiang has been appointed as an executive Director of the Company. Mr. Gao has extensive experience in the securities and financial industry. Mr. Gao joined CITIC Securities Company Limited ("CITIC Securities"), a company listed on the main board of the Stock Exchange (stock code: 6030), in 2004 and was appointed as a project manager of the transportation industry of investment bank management committee of CITIC Securities in November 2004. Mr. Gao has extensive experience in investment in different industries during his service in CITIC Securities. He is currently the person-in-charge of the infrastructure and real estate industry of investment bank management committee, a member of the investment bank management committee and a member of the senior management of CITIC Securities.