The board of directors of Shenwan Hongyuan (H.K.) Limited announced that Mr. Guo Chun, an Executive Director and Chief Executive Officer of the Company, has contributed to the development of the Group over the years, and he will be appointed as Deputy Chairman of the Board of the Company to assist in leading and managing the Board with effect from 11 August 2018. Accordingly, he will cease to act as Chief Executive Officer of the Company. Mr. Qiu Yizhou, an Executive Director of the Company, will be appointed as Chief Executive Officer of the Company and the Authorised Representative with effect from 11 August 2018, to succeed Mr. Guo Chun.

Mr. Qiu Yizhou, was appointed as an Executive Director of the Company on 15 May 2017 and he was also the Deputy General Manager of the Group. Mr. Qiu is also director of certain wholly-owned subsidiaries of the Company.