China Rongsheng Heavy Appoints New Board Members

The Board of Directors of China Rongsheng Heavy Industries Group Holdings Limited announced today, Nov. 26th, that, with effect from 26 November 2012:

Mr. Chen Qiang, an executive Director, Executive Vice Chairman and Chief Executive Officer of the Company has been appointed by the Board as Chairman of the Board and Mr. Wei A Ning has been appointed by the Board as an executive Director of the Company.

Mr. Wei, aged 61, has served as the senior vice president of the Company since October 2012. He has also served as chief of the supervisory audit department of Jiangsu Rongsheng Heavy Industries Co., Ltd., a subsidiary of the Company, since June 2010. Mr. Wei graduated from the Nanjing Political College of the Chinese People’s Liberation Army in July 2001 majoring in economics and management. He also completed the Real Estate MBA Core Subjects program offered by Shanghai Jiao Tong University from March 2008 to October 2008 and the Rongsheng Global Leaders Program of the Wharton School of the University of Pennsylvania in June 2012. Mr. Wei has served as the legal representative and executive director of China Yangguang Investment Group Co. Ltd. since February 2008. Mr. Wei entered into a service contract with the Company for a term of three years commencing on 26 November 2012.

In accordance with the amended and restated articles of association of the Company, Mr. Wei will hold office until the next annual general meeting of the Company and is eligible for re-election at that meeting.

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Shipbuilding Tribune Staff, November 26, 2012