The board of directors of Tiangong International Company Limited announced that Mr. Shi Guorui has resigned as the chief financial officer of the Company, with effect from 26 January 2017. Mr. Shi would like to retire at the age of 70 this year to spend more time with his family and pursuing his own interest. The Board announced the appointment of Mr. Wang Gang as the chief financial officer of the Company with effect from 26 January 2017. Prior to joining the Group in August 2015, he worked in KPMG Hong Kong and KPMG China and was promoted to the position of audit manager of KPMG China. Mr. Wang then joined Jiangsu Tiangong Group Company Limited as chief accountant in 2014. He was appointed as a director and the financial controller of Jiangsu Tiangong Technology Company Limited from August 2015 and subsequently resigned from the position of financial controller in TG Tech in January 2017, in preparation for the appointment as the chief financial officer of the Company. Mr. Wang has over 8 years of experience in the fields of finance, auditing, accounting and administration and is familiar with the business and operation of the Group.