The board of directors of Panda Green Energy Group Limited announced that Mr. Yu Qiuming has resigned as co-chief executive officer of the company with effect from 14 May 2019, due to his desire to devote more time to his other commitments within the Group. Mr. Yu will continue to act as an executive director of the Company. The board announced that Ms. Zhong Hui has been appointed as co-chief executive officer of the Company with effect from 14 May 2019. Ms. Zhong is currently the managing director of Shenzhen City China Merchants Huihe Equity Investment Fund Management Company Limited; and she is concurrently the managing director of China Merchants Sans Capital Management Co. Ltd. She previously acted as the chief operating officer of Jingzhou China Merchants Huide Capital Management Company Limited, from March 2019 to April 2019. From January 2015 to December 2016, Ms. Zhong acted as the managing director of China Merchants Kunlun Capital Co. Ltd.