The board of directors of China Qinfa Group Limited announced that Ms. LIU Xiaomei has tendered her resignation as an executive director of the company due to personal reason with effect from 9 October 2014. Ms. LIU confirmed that she has no disagreement with the Board and there are no other matters relating to her resignation that need to be brought to the attention of the shareholders of the company. The Board also announced the appointment of Mr. XU Da, Mr. MA Baofeng and Mr. BAI Tao as executive directors of the company with effect from 9 October 2014.

Mr. XU is currently a vice president and the director of procurement of the company and its subsidiaries. Mr. XU has more than 5 years of working experience in thermal coal procurement operation from overseas. He joined the Group as import and export manager in 2009.

Mr. MA is currently a vice president of the Group and the chairman of Shanxi Huameiao Energy Group Company Limited, a non-wholly owned subsidiary of the company.