The board of directors of Shougang Concord Grand (Group) Limited announce the following changes in directorships of the company with immediate effect: Ms. Li Jing resigned as an executive director of the company and the member of the executive committee of the Board due to allocation of duty. Ms. You Wenli resigned as a non-executive director of the company due to allocation of duty. Mr. Tian joined the Company in July 2017 and is currently the deputy general manager of the company and the managing director of South China International Leasing Co. Ltd. Mr. Zhang Jianxun has been appointed as a non-executive director of the company. Mr. Zhang is currently the managing director of Beijing Shougang Fund Co. Ltd. He had served as the deputy general manager of Beijing E-Town International Investment & Development Co. Ltd., the chairman of Beijing E-Town International Industrial Investment Management Co. Ltd.