The board of directors of China Investments Holdings Limited announced that with effect from 1 October 2021, (1) Mr. FU Weiqiang ("Mr. FU") will be appointed as an executive director, the managing director of the Company and member of the nomination committee and remuneration committee of the Company; and (2) Mr. HE Xiangming ("Mr. HE"), an existing executive director of the Company, will cease as the managing director of the Company and remains as an executive director and the Chairman of the Board. Mr. FU Weiqiang has extensive experience in industrial planning, resource development and integration, organization reform and corporate operation and management. Prior to joining the Company, Mr. Fu worked in several government departments in Nanhai District Foshan City, including the deputy officer of Land Reserve Centre of Nanhai and the deputy director of the State-owned Assets Supervision and Administrative Bureau of Nanhai District, Foshan City.