The board of directors of Shanghai Prime Machinery Company Limited announced that Mr. Zhang Jianping has resigned as Executive Director and member of Nomination Committee and Risk Management Committee of the Board and Ms. Zhu Xi has resigned as Executive Director and member of Strategy Committee and Risk Management Committee of the Board due to their change of work arrangements. The resignations will take effect from the date of approval of the proposed appointment of new Executive Directors at the extraordinary general meeting. The Board nominates Mr. Xiao Yuman and Mr. Zhang Jie as Executive Directors of the Company. The appointment will be subject to the approval of shareholders of the Company and shall take effect from the date of such approval at the extraordinary general meeting. Mr. Xiao Yuman, aged 44, is currently the secretary of Party Committee, the secretary of Disciplinary Committee and the leader of Trade Union of Shanghai Prime Machinery Company Limited. Mr. Zhang Jie, aged 39, is currently an executive director and acting general manager of Shanghai Electric Group Hongkong Company Limited. The Board also announced that Mr. Ng Kwong, Alexander has been appointed as Chief Financial Officer of the Company with effect from 21 September 2016,
in addition to his current position as Company Secretary of the Company.