The board of directors of Shougang Concord International Enterprises Company Limited announced that Mr. Zhang Gongyan has resigned as a Non-executive Director of the Company and the Chairman of the Board with effect from 1 August 2016 and has ipso facto ceased to act as the chairman of the Nomination Committee of the Company from the same date; and Mr. Zhang Bingcheng has been appointed as a Non-executive Director of the Company and the Chairman of the Board as well as the chairman of the Nomination Committee of the Company with effect from 1 August 2016.