The Board of GCL New Energy Holdings Limited announced that Mr. Zhu retired from office as an executive Director and the Honorary Chairman at the conclusion of the AGM held on 24 May 2016. Mr. Zhu ceased to be the chairman of the Strategic Planning Committee with effect from 24 May 2016. Mr. Zhu Yufeng has been appointed as the chairman of the Strategic Planning Committee to fill the vacancy upon the Retirement with effect from 24 May 2016.