The board of China Dongxiang (Group) Co., Ltd. announced that Mr. Chen Yihong has tendered his resignation as the chief executive officer of the company with effect from October 10, 2017, in order to focus on his responsibilities as an executive Director and chairman of the board. The board hereby announced that Mr. Zhang Zhiyong has been appointed as an executive Director and the chief executive officer of the company with effect from October 10, 2017. Mr. Zhang has also been appointed as a member of the executive committee of the Company with effect from October 10, 2017.

Mr. Zhang was president of LeSports from August 2016 to January 2017. Mr. Zhang has been appointed as an independent non-executive director of C. banner International Holdings Limited, since 15 October 2012. Mr. Zhang was president of LeSports from August 2016 to January 2017.