The board of directors of China Renaissance Holdings Limited announced that Mr. Du Yongbo has tendered his resignation as an executive Director effective from August 22, 2020 as he desires to focus on the management and development of the Group's investment management business. Mr. Du will remain as a senior management of the Group and a member of the Executive Committee of the Company after his resignation as executive Director. He will continue to serve the Group as managing director, Huaxing Growth Capital. The board announced that, Mr. Wang Lixing has been appointed as an executive Director with effect from August 22, 2020. He is currently a member of the Executive Committee of the Company. From January 2016 to December 2018, he served as head of advisory of the Group, before serving as his current role since January 2019.