The board of directors of AVIC International Holding (HK) Limited announced that with effect from August 23, 2019, Mr. Liu Hongde has resigned as the Chairman, an executive Director and the member of the Remuneration Committee; Mr. Lai Weixuan has resigned as the Chief Executive Officer and the member of the Nomination Committee and has been appointed as the Chairman of the Board and the member of the Remuneration Committee; Mr. Fu Fangxing has been appointed as the member of the Nomination Committee and Mr. Zhao Yang has resigned as the Chief Financial Officer and has been appointed as an executive Director and the Chief Executive Officer. Mr. Zhao was the Chief Financial Officer starting from January 2017 and was responsible for the Group's corporate finance, accounting and treasury functions. Prior to joining the Group, Mr. Zhao held senior management positions in different companies, of which two are Shenzhen listed companies, Tianma Microelectronics Co.

Ltd. and AVIC Real Estate Holding Company Limited.