The board of directors of AVIC International Holding (HK) Limited announced that Mr. Liu Hongde has been appointed as an executive Director, the chairman of the Company, and member of the Remuneration Committee of the Company with effect from 30 December 2016; Ms. Zhou Chunhua has been appointed as an executive Director with effect from 30 December 2016; Mr. Wu Guangquan has resigned as an executive Director, Chairman and member of the Remuneration Committee of the Company with effect from 30 December 2016 due to change of job assignments; and Mr. Xiao Nan has resigned as an executive Director with effect from 30 December 2016 due to change of job assignments. Each of Mr. Wu and Mr. Xiao has confirmed that there is no disagreement with the Board and there is no other matter in respect of their resignation that needs to be brought to the attention of the shareholders of the Company. Mr. Liu Hongde, a professoriate senior engineer. He enjoys the special government allowances of the State Council. Mr. Liu has extensive working experience in the areas of operation management, scientific research management, organisational and cultural development. Mr. Liu is currently the chairman of the board of directors of AVIC International Holding Corporation and the supervisor of Aviation Industry Corporation of China, both of which are substantial shareholders of the Company. Mr. Liu has been nominated in December 2016 as an executive director of AVIC International Holdings Limited, which shares are listed on The Stock Exchange of Hong Kong Limited, subject to the approval by the shareholders of AVIC IHL at its extraordinary general meeting. Prior to joining AVIC International, Mr. Liu was the deputy general manager of Harbin Dongan Engine Corporation, the general manager and chairman of Harbin Dongan Auto Engine Co. Ltd., the director and the deputy executive general manager of Harbin Aviation Industry (Group) Co. Ltd. the chairman of Jiangxi Changhe Automobile Co. Ltd., the general manager of AVIC Automobile Industry Corporation, the deputy general manager of AviChina Industry & Technology Company Limited.