The board of directors of China Wood International Holding Co., Limited announced that Mr. Qiu Bin has resigned as executive Director, chairman of the Board, the Chief Executive Officer (the "CEO") and ceased to be an authorized representative of the Company under the Rules Governing the Listing of Securities on the Stock Exchange (the " Listing Rules ") and the authorized representative of the Company for accepting service of process and notices on behalf of the Company under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (the "Companies Ordinance") as well as the chairman of the Nomination Committee and a member of the Executive Committee effect from 3 December 2020 because his personal engagements require more of his time and attention. Mr. Lyu NingJiang has been appointed as an executive Director, chairman of the Board, the CEO, the chairman of the Nomination Committee, a member of the Executive Committee and an authorized representative under the Listing Rules and under the Companies Ordinance, all with effect from 3 December 2020. Mr. Lyu have received education in mainland China with forestry major. He had worked with various foresty-related corporations in mainland China with extensive experience in the wood business. Mr. Lyu has over 15 years of experience in senior corporate management. Mr. Lyu was the chairman and chief executive of China Wood Group Company Limited during the period from 1998 to 2013. Mr. Lyu was re-designated as the senior consultant of China Wood Group Company Limited from 2013 to 2018. Mr. Hu YongGang has been appointed as a non-executive Director with effect from 3 December 2020. Mr. Hu have received education in mainland China with international trade major. Mr. Hu has over twenty years extensive experience in the automobile business in mainland China and he operates automobile dealers, 4S spareparts service shops and car rental business for almost 17 years. Mr. Hu is the founder owner of BeiJing DeRunFeng Car Rental Company Limited since 2012.