Honghua Group Limited announced executive changes, with effect from 29 March 2017. Mr. Siegfried Meissner has resigned as non-executive director and Mr. Popin Su resigned as his alternate; Mr. Shi Xingquan has resigned as independent non-executive director, member of the Audit Committee and Strategic Investment and Risk Control Committee; Mr. Guo Yanjun has resigned as independent non-executive director and member of Audit Committee; and Mr. Liu Zhi has resigned as member of Strategic Investment and Risk Control Committee. Mr. Chen Yajun has been appointed as executive director, chairman of the Board and chairman of Strategic Investment and Risk Control Committee and member of the Remuneration Committee; Mr. Han Guangrong has been appointed as non-executive director; Mr. Chen Wenle has been appointed as non-executive director; and Ms. Su Mei has been appointed as independent non-executive director and member of Audit Committee and member of Remuneration Committee.

Mr. Zhang Mi has stepped down from the position as chairman of the Board and has been re-designated as the vice-chairman of the Board and has been re-designated from chairman of Strategic Investment and Risk Control Committee as member of Strategic Investment and Risk Control Committee. Ms. Xu Xiufang has been appointed as Chief Financial Officer of the Company. Mr. Chen Yajun, aged 54, is currently a director, vice general manager and the vice secretary of the Party committee of China Aerospace Automotive Co.

Mr. Han Guangrong, aged 55, is currently the deputy director of the international-business department of China Aerospace Science and Industry Corporation and vice-chairman of Aerospace Hi-tech Holding Group Co. Ltd. Mr. Chen Wenle, aged 37, is currently the director of corporate plan and development department of Shenzhen Aerospace Industry Technology Research Institute Co. Ltd. and chairman of Zhuhai Aerospace Science and Technology Innovation Industrial Co.

Ltd. Ms. Su Mei, aged 48, is currently the chief executive officer of Beijing YaMeiHeZhong Consultanting Co. Ltd. Ms. Xu Xiufang currently is the chief accountant of the First Research Institute of CASIC group.