date:May 14, 2014
Mr. Ping Wang and the Company's Nominating Committee recommended, and the Board of Directors approved, the appointment of Mr. Tong Zhao as a Director of the Board. Mr. Zhao, 39, currently serves as Executive President of Aoxin Holding Co., Ltd. (Aoxin), where Mr. Wang also serves as Chairperson.
On March 31, 2014, the Company announced that, due to personal health-related reasons, Mrs. Hanying Li has resigned as Chairwoman and Chief Executive Officer, effective March 27, 2014. Mrs. Li will rem