The board of directors of HongDa Financial Holding Limited (the "Company") announced that Dr. Guan Huanfei ("Dr. Guan") has been appointed as an independent non-executive Director as well as the Chairman of the Nomination Committee and a member each of the Audit Committee and the Remuneration Committee with effect from 22 June 2018. The Company will sign an appointment letter with Dr. Guan for an initial term of three year commencing from 22 June 2018, renewable automatically for a successive term of three year upon expiry of every term of his appointment, unless terminated in accordance with the terms of the appointment letter. His appointment will be subject to retirement by rotation and eligible for re- election pursuant to the Bye-laws of the Company. Dr. Guan, has extensive experience in the finance and insurance industry in Hong Kong and the PRC.