The Board of China Electronics Optics Valley Union Holding Company Limited hereby announces that with effect from 8 May 2020. Mr. Xie Qinghua has been appointed as an executive Director and a co-chairman of the Company; Mr. Huang Liping has been re-designated from the Chairman of the Company to a co- chairman of the Company, and continues to serve as an executive Director, the President of the Company and the chairman of the Nomination Committee; Mr. Xiang Qunxiong has resigned as a non-executive Director; Mr. Leung Man Kit has resigned as an independent non-executive Director and also ceases to act as the chairman of the Audit Committee and a member of the Remuneration Committee; Ms. Chan Ching Har Eliza has been appointed as an independent non-executive Director and the chairman of the Remuneration Committee; Mr. Qiu Hongsheng has been appointed as the chairman of the Audit Committee; and Mr. Qi Min has been re-designated from the chairman of the Remuneration Committee to a member of the Remuneration Committee, and continues to serve as an independent non- executive Director, and a member of the Audit Committee and the Nomination Committee.