The board of directors of Yuanda China Holdings Limited announced that in order to enhance the effectiveness of the company's corporate governance structure and meet the business management need, there are certain changes in the composition of the Board and the remuneration committee of the company (the "Remuneration Committee"), the chief executive officer (the "CEO"), the chief financial officer (the "CFO") and one of the authorised representatives of the company (the "Authorised Representatives"). The Board announced that with effect from 22 July 2020: Mr. Li Hongren ("Mr. Li") resigned as an executive Director, a member of the Remuneration Committee and one of the Authorised Representatives; and Each of Mr. Li and Mr. Wang has confirmed that there is no disagreement with the Board and there is no matter relating to their respective resignations that need to be brought to the attention of the holders of shares of the Company ("Shareholders") or The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). The Board announced that with effect from 22 July 2020: Mr. Liu Futao ("Mr. Liu") was appointed as a member of the Remuneration Committee and one of the Authorised Representatives; Mr. Zhao Zhongqiu ("Mr. Zhao") was appointed as an executive Director. Mr. Liu Futao aged 56, obtained his bachelor's degree in Engineering from Shenyang Correspondence University in 1987 with a major in machinery manufacturing. Mr. Liu joined the Group in 1997 and has more than 23 years in manufacturing and project management. Mr. Zhao Zhongqiu, aged 55, obtained his bachelor's degree in Engineering from Hunan University in 1987 with a major in internal combustion engineering. Mr. Zhao joined the Group in 1996 and has more than 24 years in manufacturing and project management. In 2017, Mr. Zhao was promoted to the president of global operations of the Group, responsible for onshore and offshore businesses. Since 2006 Mr. Zhao has managed more than 100 overseas landmark projects.