The board of directors of Shougang Concord Grand (Group) Limited appointed Mr. Liang Hengyi has been as Managing Director with immediate effect. Mr. Liang joined the Company in March 2021 served as General Manager. He served as managing director, executive director and member of each of the executive committee and the nomination committee of Shoucheng Holdings Limited.

Mr. Liang also served as managing director of Beijing Shougang Fund Co. Ltd., the general manager of non-fare business unit of Beijing Infrastructure Investment Co. Ltd., the general manager of Beijing Capital Investment Rail Transit Assets Management Company and the president of Beijing Urban Underground Space Development and Construction Co.

Ltd.