The board of Shenzhou International Group Holdings Limited announced that Mr. Dai Xiangbo tendered his resignation as an independent non-executive Director with effect from 1 April 2012. Upon his resignation as an independent non-executive Director, Mr. Dai would cease to be the chairman and a member of the audit committee and a member of each of the remuneration committee and the nomination committee of the company. Mr. Jiang Xianpin has been appointed as an independent non-executive Director and the chairman and a member of the Audit Committee and a member of each of the Remuneration Committee and the Nomination Committee with effect from 1 April 2012. Mr. Huang Guanlin, an executive Director, would cease to be the chairman and a member of the Nomination Committee and Mr. Ma Jianrong, an executive Director and the chairman of the company has been appointed as the chairman and a member of the Nomination Committee with effect from 1 April 2012. Mr. Chen Genxiang, an independent non-executive Director and a member of the Remuneration Committee, has been appointed as the chairman of the Remuneration Committee and Mr. Ma Renhe, an executive Director and the chairman of the Remuneration Committee, has been re-designated from the chairman to a member of the Remuneration Committee with effect from 1 April 2012. Mr. Dai tendered his resignation as an independent non-executive Director with effect from 1 April 2012. Upon his resignation as an independent non-executive Director, Mr. Dai would cease to be the chairman and a member of the Audit Committee and a member of each of the Remuneration Committee and the Nomination Committee. Mr. Dai decided to resign as a Director due to his commitment in his work at the finance department of the government of Zhejiang Province, the People's Republic of China. Mr. Jiang started teaching at Zhejiang University of Technology since 1986 and is currently an assistant professor in the School of Economics, Trade and Management of Zhejiang University of Technology. The Board announced that Mr. Huang, an executive Director, would cease to be the chairman and a member of the Nomination Committee and Mr. Ma Jianrong, an executive Director and the Chairman, has been appointed as the chairman and a member of the Nomination Committee with effect from 1 April 2012.