The board of directors of Yue Da Mining Holdings Limited announced that Mr. Mao Naihe being the vice chairman of the Board, relinquished his role as the vice chairman of the Board, and remains as an executive director of the company. Besides, he resigns as a member of the Remuneration Committee of the company with effect from 10 October 2018. The Board announced that, with effect from 10 October 2018, Mr. Wen Songmao has been appointed as an executive Director, the vice chairman of the Board, and a member of the Remuneration Committee.

The Board announced the appointment of Mr. Wen as a member of the Remuneration Committee with effect from 10 October 2018. The Board announces that Mr. Bai Zhaoxiang has resigned as an executive Director with effect from 10 October 2018 in order to pursue other personal and business commitments. Mr. Bai has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the Shareholders and The Stock Exchange of Hong Kong Limited.

In addition, the Board announced that Mr. Bai has been appointed as the chief financial officer and vice chief executive of the company with effect from 10 October 2018. Mr. Bai joined the Group in August 2008 and was appointed as an executive Director in October 2014. Mr. Bai has over 30 years of experience in accounting.

Prior to his joining of the company, Mr. Bai worked as a financial controller of a foreign-invested enterprise in the PRC for about 13 years.