China Best Group Holding Limited announced that each of Chen Zhenguo and Li Yu has resigned as an independent non-executive director and ceased to be the member of the audit committee, the nomination committee, the remuneration committee and the risk management committee of the company for their other personal commitments, effective April 29, 2016. The Board also announced that upon the recommendations by the nomination committee of the company, each of Liu Haiping and Liu Tonghui has been appointed as an independent non-executive director and the member of the audit committee, the nomination committee and the remuneration committee of the company, effective April 29, 2016. Liu joined Beijing Dacheng Law Offices in April 2009 and is currently a senior partner of the firm.

Mr. Liu is also the deputy executive of the Banking Law Professional Committee under the Beijing Lawyers Association. Liu has been the general manager of Tangshan Haigang Xingerui Company Limited since 2009 and the assistant president of Unisplendour Corporation Limited since 2012. The Board also announced that the establishment of the Executive Committee of the company, effective 29 April 2016 comprising five executive directors of the company, namely, Tan Xiangdong, Li Yang, Wang Jian, Liu Wei and Chen Wei.

The principal duties of the Executive Committee is to regulate the daily operations of the Group, improve the company's decision making efficiency and strengthen the execution of the board's resolutions.