Good Resources Holdings Limited announced that Mr. Chen Chuanjin (Mr. CJ Chen), an executive director of the company, has been re-designated from the chief executive officer of the company to Chairman of the Board and was appointed as an authorized representative of the Company with effect from 10 July 2019. Mr. CJ Chen, aged 54, was appointed as an executive Director of the Company on 30 June 2016. He is currently a director of certain subsidiaries of the company.

Mr. CJ Chen is the founder of Tianjin Binhai Zone Venture Investment Fund. During the period from May 2002 to December 2007, Mr. CJ Chen was the vice president of the assessment management department, head of risk management of Tianjin Branch, and Manager of the risk management committee of China Development Bank. Mr. Lu Sheng (Mr. Lu) has tendered his resignation as an executive Director, the Chairman of the Board and the authorized representative of the Company with effect from 10 July 2019 in order to devote more time to other business commitments.

Mr. Chen Shi (Mr. Chen) has been appointed as an executive Director and the chief executive officer of the Company with effect from 10 July 2019. Mr. Chen is currently a director of a wholly-owned subsidiary of the Company. In addition, Mr. Chen has been appointed as a director of certain subsidiaries of the Company with effect from 10 July 2019.

In connection with the appointment and resignation of Director set out above, with effect from 10 July 2019: Mr. Lu will cease to be a member and the chairman of Nomination Committee of the company; Mr. CJ Chen will be appointed as a member and chairman of the Nomination Committee of the company.