The board of directors of China Rare Earth Holdings Limited announced that with effect from September 7, 2017, Mr. Jiang Quanlong resigned as the chairman of the board. Mr. Jiang QL remains as an executive Director. The board announced that, Ms. Qian Yuanying was re-designated from the vice chairman of the board and the chief executive officer of the Company, to the Chairman with effect from September 7, 2017.

The board announced that, Mr. Jiang Dawei has been appointed as an executive Director and the Chief Executive Officer with effect from 7 September 2017. Mr. Jiang DW, aged 33, is currently the chief executive officer of the company and an executive director. Mr. Jiang DW joined the Group as an officer in the sales department of Yixing Xinwei Leeshing Rare Earth Company Limited.