China Art Financial Holdings Limited announced that the board of directors of the company announces that Mr. Fan Zhijun, an executive director of the Company and the chairman of the Board has been appointed as the chief executive officer of the Company with effect from 2 July 2019. Mr. Fan is the Chairman and an executive Director. He is primarily responsible for planning of the Company's business and marketing strategies, supervising the overall operations of the Group and overseeing the daily management of the pawn loan and auction businesses. Mr. Fan was appointed as a Director on 2 November 2015 upon the incorporation of the Company and was re-designated as an executive Director on 18 April 2016. Mr. Fan is a director of all the subsidiaries of the Company incorporated in Hong Kong. He is also a member of the remuneration committee of the Company and the chairman of the nomination committee of the Company. As one of the founders of the Group, Mr. Fan started his career in the banking industry for about 15 years from August 1990 to December 2004, during which he held various senior management positions in the risk control department, operations department and accounting department of China Construction Bank. With such background and experience, Mr. Fan has been placing strong emphasis on risk management and internal control when managing and supervising the Group's businesses. In May 2004, together with some business partners, Mr. Fan set up Jiangsu Hexin Pawn Company Limited, the first member of the Group, which commenced pawn loan business in the same year. In 2007, the Group diversified its business and started operation in the auction industry after the establishment of Jiangsu Hexin Auction Company Limited in May 2007. Since their respective establishments, Mr. Fan has been responsible for overseeing the daily operations and planning of business strategies and development of Hexin Pawn and Hexin Auction.