The board of directors of Ascent International Holdings Limited announced that, with effect from 22 July 2019, Ms. Wang was re-designated to the chief operating officer of the Company due to change in control of the Company following the close of the Offer (the "Re-esignation"). Due to the Re-designation, Ms. Wang Wei ("Ms. Wang") (i) resigned as an executive Director, the chairlady of the Board, the chairlady of the nomination committee (the "Nomination Committee") of the Board, a member of the remuneration committee (the "Remuneration Committee") of the Board and the chief risk and operating officer of the Company; and (ii) was appointed as the chief operating officer of the Company. Ms. Wang confirmed that she has no disagreements with the Board and there is no other matter in respect of her resignation as the Director that needs to be brought to the attention of the shareholders (the "Shareholders") of the Company.

The Board is also announced that, with effect from 22 July 2019, Mr. Zhao Jingfei has been appointed as an executive Director, the chairman of the Board and the chairman of the Nomination Committee; and Mr. Fan Xin has been appointed as an executive Director and a member of the Remuneration Committee. The Board announced that, with effect from 22 July 2019, Mr. Fan, an executive Director, has been appointed as the chief executive officer of the Company. The Board announced that, with effect from 22 July 2019, Ms. Wang has ceased to act as an authorised representative (the "Authorised Representative") of the Company under Rule 3.05 of the Listing Rules and Mr. Fan has been appointed as the Authorised Representative in place of Ms. Wang.