bawang international group (1338) Snapshot

The board of directors BaWang International (Group) Holding Limited announced that Mr. SHEN Xiaodi and Ms. GUO Jing have resigned as directors of the company with effect from 28 May 2013. Additionally, Mr. SHEN Xiaodi has resigned as Vice-CEO of the company at the same time. Mr. SHEN Xiaodi and Ms. GUO Jing have informed the company that they would like to step down as a director of the company due to their other business commitments. Each of Mr. SHEN Xiaodi and Ms. GUO Jing has confirmed that he/she has no disagreement with the Board and that he/she is not aware of any matter relating to his/her resignation that needs to be brought to the attention of the shareholders of the Company. As a result of the resignation of Ms. Guo, Ms. GUO Jing will not be offered for re-election at the upcoming annual general meeting of the company to be held on 31 May 2013 and, accordingly Resolution 2(A)(ii) regarding the re-election of Ms. GUO Jing as a non-executive director of the Company will not be considered at the AGM. Also, as a result of the resignation of Mr. SHEN, his responsibilities as a Vice-CEO of the company will be assumed by Ms. WAN Yuhua, the CEO of the Company. Following the resignation of Mr. SHEN and Ms. GUO, the Board comprises three executive directors and three independent non-executive directors and the company is in compliance with the relevant requirements under the Listing Rules.

BaWang International (Group) Holding Limited, Annual General Meeting, May 31, 2013., at 16:00 China Standard Time. Location: t 4/F, Grand Ballroom, BaWang International Hotel. Agenda: To receive and consider the audited financial statements and the reports of the directors of the company and auditors of the company for the year ended 31 December 2012; to re-elect directors; to authorise the board of directors to determine the directors remuneration; to re-appoint KPMG as auditors and authorise the board to determine their remuneration; to grant a general mandate to the directors to allot, issue and deal with shares of the company not exceeding 20% of the aggregate nominal amount of the issued share capital of the company as at the date of passing this resolution; to grant a general mandate to the directors to repurchase shares of the company not exceeding 10% of the aggregate nominal amount of the issued share capital of the company as at the date of passing this resolution; and to extend the general mandate to the directors to issue shares by the addition thereto the shares repurchased by the company.

BaWang International (Group) Holding Limited reported audited consolidated cash flow results for the year ended December 31, 2012. For the period, the company reported net cash used in operating activities of RMB 301,652,000 against RMB 449,578,000 a year ago. Acquisition of property, plant and equipment was RMB 153,847,000 against RMB 147,927,000 a year ago. Plantation expenditure of biological assets -- non-current portion was RMB 443,000 against RMB 578,000 a year ago.