The board of directors of Yuanda China Holdings Limited announced the appointment of Mr. Woo Kar Tung, Raymond, an existing committee member and an independent non-executive Director, has been appointed as the chairman of the remuneration committee of the company in place of Mr. Tian Shouliang, an executive Director, with effect from March 15, 2012. Mr. Tian Shouliang remains as a member of the Remuneration Committee.