China Minsheng Financial Holding Corporation Limited announced that with effect from 11 January 2017, Mr. Chen has been appointed as the first vice chairman and executive director of the company. Mr. Chen Guogang, aged 57, was appointed as the first vice chairman and executive director of the company on 11 January 2017. He obtained a doctorate degree in economics from Xiamen University in 1988. Mr. Chen is also a senior accountant granted by the Ministry of Foreign Trade and Economic Cooperation in the People's Republic of China and a certified public accountant granted by China Certified Public Accountant Association. The Board announces that with effect from 11 January 2017, Mr. Zhao has resigned as an executive director of the company, due to other internal business commitments within the group of China Minsheng Investment Group. Mr. Zhao has confirmed that he has no disagreement with the board and there are no other matters in relation to his resignation as an executive director which need to be brought to the attention of the shareholders of the company. The Board announces that Mr. Pak has been appointed as the Joint company Secretary with effect from 11 January 2017. Following the appointment of Mr. Pak, Mr. Wong Choi Chak, the existing company secretary of the company, will act as the other Joint company Secretary of the company. Mr. Pak joined the company as the Finance Director in December 2015. Prior to joining the company, he worked at China Asset Management (Hong Kong) Limited where he served as the Head of Finance Division until 2015. The Board announces that Mr. Ni, formerly a non-executive director of the company, has been re-designated as an executive director of the company, with effect from 11 January 2017. Following his re-designation, Mr. Ni has resigned as a member of each of the Audit Committee and Remuneration Committee. Mr. Ni, aged 47, was appointed as an executive director of the company on 11 January 2017. He previously served as the chairman and executive director of the company from 12 March 2004 until his re-designation as a non-executive director of the company on 11 December 2015. He is also currently a director of Bright Wick Limited. Change of composition of audit committee and remuneration committee Following Mr. Ni's resignation as a member of each of the Audit Committee and Remuneration Committee, Mr. Beczak has been appointed as a member of the Audit Committee and Mr. Lyu has been appointed as a member of the Remuneration Committee, with effect from 11 January 2017.