Da Yu Financial Holdings Limited announced that the Company (collectively with its subsidiaries as the "Group") received a letter on 4 December 2019 from First Steamship Co. Ltd. ("First Steamship"), a substantial shareholder of the Company, holding 331,055,000 shares in the Company (representing approximately 29.05% of the total issued shares of the Company as at the date of this announcement), requesting Mr. Kuo Jen-Hao ("Mr. Kuo") be nominated to join the Board. The Board announced that Mr. Kuo was appointed as a non-executive Director with effect from 23 December 2019. Mr. Kuo is the chairman and the general manager of First Steamship. He is also a director and the chairman of Grand Ocean Retail Group Limited. Mr. Kuo has been appointed for a term of three years commencing from 23 December 2019 as a non-executive Director. He shall hold office until the next following annual general meeting of the Company and shall then be eligible for re-election at that meeting.