The board of directors of Munsun Capital Group Limited announced that with effect from 21 August 2017 Mr. Wang Baozhi has been appointed as an Executive Director and a member of each of the Executive Committee and Corporate Governance Committee of the Company and Professor Zhang Tianyu has been appointed as an Independent Non- Executive Director and a member of each of the Audit Committee, Remuneration Committee and Nomination Committee of the Company. Mr. Wang is currently a member of the Chinese Institute of Certified Public Accountants. He has over 23 years of experience in finance. Mr. Wang has been the managing director of south china business headquarter of Zhongrong International Trust Company Limited ("Zhongrong International") since April 2009. Before joining Zhongrong International, he has previously worked as the project manager of Shenzhen Baifuda Finance Company Limited, the financial controller of Shenzhen Chengnong Siliao Company Limited, the financial controller of Shenzhen Hongji (Group) Logistic Company Limited, the chief financial officer of Shenzhen Nanyou (Holdings) Limited and an auditor of Shenzhen Minfu audit firm. Professor Zhang has over 12 years of experience in accounting. Professor Zhang is a professor in School of Accountancy and the director of the Center for Institutions and Governance in The Chinese University of Hong Kong ("Chinese University"). His research focuses on political institutions and governance in China emerging market. He is now sitting on the editorial board of The Accounting Review and Contemporary Accounting Research. Before joining the Chinese University, he worked for City University of Hong Kong in 2011. Professor Zhang also served as an independent director of Netac Technology Co Ltd. from February 2011 to February 2017.