The Board of Directors of China Hongqiao Group Limited announced that Mr. Chen Yinghai (Mr. Chen), after having served on the Board for more than 7 years, has informed the company that he will not stand for re-election at the upcoming annual general meeting of the company to be held on 16 May 2018 and will retire as an Independent Non-executive Director after the conclusion of the 2018 AGM as Mr. Chen would like to spend more time pursuing his own business. Following the conclusion of the 2018 AGM, he will also cease to be a member of the Audit Committee of the company.