The board of directors of Golden Century International Holdings Group Limited announces that Mr. Lyu Guoping, the chief executive officer and the project consultant of the Company, has ceased to be the CEO due to work reallocation but retained as the project consultant of the Company with effect from 1 September 2020. Mr. Lyu confirmed that, as at the date of this announcement, (i) he has no claim against the Company in respect of fees nor in respect of compensation for his cessation to be the CEO; (ii) he has no disagreement with the Board; and (iii) there are no other matters that should be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited in relation to his cessation to be the CEO. Following Mr. Lyu's cessation to be the CEO, the Board is also pleased to announce that, Mr. Pan Jibiao, the executive Director and the chairman of the Board, has been appointed as the chief executive of the Company, with effect from 1 September 2020. The Board considers that this dual role is essential as Mr. Pan can manage the strategic development of business and operation of the Group while the Group rebuilds and develops its business with his leadership in the Board. Mr. Pan, aged 46, is currently the executive Director and the chairman of the Board. Mr. Pan completed a PhD program in law from China University of Political Science and Law in the People's Republic of China ("PRC") in 2015. During the period from 1996 to 2004, Mr. Pan was a legal consultant of Shenzhen Jinze Shiye Development Company Limited. During the period from 2004 to 2009, Mr. Pan was a general manager of Guangzhou Jinxi Credit Guarantee Company Limited. He is a founder and has been a director of Yongzhou Jinxi Guarantee Company Limited since 2009. He is also a founder and has been a director of Hunan Shengda Jinxi Financial Services Company Limited since 2011. He has twenty (20) years of management and investment experience in financial and treasury services in the PRC, which is one of the Group's business segments.