Bestway International Holdings Limited announced changes to the Board with effect from January 19, 2016. Mr. Liu Xueheng will resign as an executive Director and chief executive office of the company in order to devote more time to his personal career development. Mr. Hu will also resign as the Chairman of the Board but will remain as an executive Director of the company.

Mr. Chua will be appointed as an executive Director and the Chairman of the Board of the company. Dr. Liu Hua, an executive Director will be appointed as an acting chief executive officer of the company. Mr. Chua has over nine years of experience in the areas of equity investments, trading of liquefied petroleum gas (LPG) and chemical products and trade financing.

Mr. Chua is the founder and the president of Huacheng International Resources Pte Ltd. Dr. Liu has been appointed as an executive Director of the company since January 8, 2016. Dr. Liu has over nine years of experience in the areas of equity investment and securities advisory services in the People's Republic of China. From January 2007 to November 2008, Dr. Liu was the investment manager of Shanghai Zhangjiang Hi-tech Park Development Co.

Ltd., where he was responsible for equity investment of the company. From December 2008 to August 2014, he was an executive director and a member of the investment decision committee of Guotai Junan Innovation Investment Co. Ltd. From September 2014 to November 2015, Dr. Liu was the general manager of the international business division of Donghai Securities Co.

Ltd.