The Board of Directors of Bay Area Gold Group Limited announced that: Mr. Yu Yong has resigned as an Executive Director and a member of the Executive Committee of the Company with effect from 20 January 2020 due to his other business commitments. Mr. Huang Zhiwei has been appointed as an Executive Director and a member of Executive Committee of the Company with effect from 20 January 2020. Mr. Huang is currently a Joint Chief Executive of Hengqin Life Insurance Co. Ltd. ("Hengqin Life"). Prior to joining Hengqin Life, he had worked in China Life Insurance Company Limited ("China life") and served in various positions, including serving as a cadre in the cadre office of the human resources department, secretary to the committee of the office league, member of the party committee and deputy general manager of Huzhou branch in Zhejiang Province, and the deputy head of the legal team of reorganization under the share conversion and listing office of China Life, and served as the heads of market development department, human resources department (organization office of the party committee) and business management department of China Life, he was also the head of the Shenzhen branch of China Life. Mr. Huang subsequently served as a Deputy Chief Executive in Shenzhen Bolin Holding Limited. He has over 21 years of extensive experiences in insurance business operations, human resources management, market development and investment management.