The board of directors of Tibet Water Resources Ltd. announced the following re-designation of director and changes in the composition of the board committees. Mr. Kevin Cheng WEI has been re-designated from an independent non-executive director to a non-executive director with effect from 9 October 2020. Mr. Wei remains as the chairman of the Board. Mr. Kevin Cheng WEI, aged 52, joined the Group and was appointed as an independent non-executive Director on 1 March 2011 and further appointed as the chairman of the Board since 27 May 2020. He is the chairman of the nomination committee of the Company and also a member of the remuneration committee of the Company. Mr. Wei is currently a managing partner of a corporate finance advisory firm. Mr. Wei served as the chief financial officer from December 2007 to September 2013 of IFM Investments Limited which is a real estate services company headquartered in Beijing. From 2006 to 2007, Mr. Wei served as the chief financial officer of a Chinese solar company listed on Nasdaq. From 1999 to 2005, Mr. Wei worked in the internal audit and risk management functions with the Asia Pacific regional or global coverage for multinational companies including LG Philips Displays International Ltd. (2003 to 2005) headquartered in Hong Kong. From 1991 to 1999, Mr. Wei worked with KPMG LLP and Deloitte Touche LLP in various audit and consulting roles between the United States of America and China. The company also announced that Mr. Wei has been appointed as the chairman of the nomination committee of the company and has ceased to be the chairman of the audit committee of the company with effect from 9 October 2020. Mr. TANG Zeping, an independent non-executive Director, has been appointed as the chairman of the audit committee of the company and has ceased to be the chairman but will remain as a member of the nomination committee of the Company with effect from 9 October 2020.