The board of directors of CEFC Hong Kong Financial Investment Company Limited appointed Zhang Yu as executive Director and the chief executive officer of the company with effect from November 23, 2017. Before joining the company, Mr. Zhang was the Deputy General Manager of Aeon Insurance Asset Management Co. Ltd. Mr. Zhang has been appointed as a member of each of the remuneration committee, nomination committee and corporate governance committee of the company; and Mr. Jiang Tianqing has ceased to be a member of each of the remuneration committee, nomination committee and corporate governance committee of the company.

The Board announces that with effect from November 23, 2017, Jiang Tianqing, has resigned as an authorized representative of the company due to internal re-assignment of job duties and Mr. Zhang has been appointed as an Authorized Representative in place of Mr. Jiang. Mr. Jiang will remain as an executive Director upon his resignation as an Authorized Representative.