The board of directors of China Wan Tong Yuan (Holdings) Limited announced that with effect from 31 March 2020, Mr. Yu Minghua has resigned as the chief executive officer of the Company as he wishes to pursue his career development and concentrate on his own business engagement. The Board also announced that Ms. Li Xingying, an executive director of the company, has been appointed as the deputy Chief Executive Officer of the Company with effect from 31 March 2020. Ms. Li was appointed as an executive director of the Company in March 2017. Ms. Li has 16 years of experience in burial services industry. Ms. Li joined the Group in November 2007. She has been serving as an executive director of Langfang Wantong Cemetery Co. Ltd.