The board of directors of ZZ Capital International Limited announced that, with effect from August 29, 2019: Ms. DUAN Di has tendered her resignation as an executive Director, the Chairman of the Board, the chairman of the Nomination Committee and the member of the Remuneration Committee of the Company. Ms. Duan will continue to hold the post in Zhongzhi Capital Management Company Limited, the controlling shareholder of the Company, and will remain be employed by the Company; and Ms. ZHANG Yun has tendered her resignation as an executive Director, the chief executive officer, the compliance officer, and an authorized representative of the Company. Ms. Zhang will continue to hold the post in Zhongzhi Capital and will remain be employed by the Company.

The Board announced that with effect from August 29, 2019 Mr. NIU Zhanbin, will be appointed as an executive Director, the Chairman of the Board, chief executive officer, the chairman of the Nomination Committee and the member of the Remuneration Committee of the Company; and Mr. WU Hui, currently the chief operating officer of the Company, will be appointed as an executive Director, the compliance officer, and an authorized representative of the Company. Mr. Niu, aged 44, joined Zhongzhi Enterprise Group Co. Ltd. in August 2019 as executive vice president.

Zhongzhi Enterprise Group Co. Ltd. is a company directly or indirectly held as to 76% by Mr. XIE Zhikun. Mr. XIE Zhikun is the controlling shareholder of the Company.

Mr. Wu, aged 37, joined the Group in November 2018 as the chief operating officer. He is the legal representative of (Asian Capital (Qianhai) Investment Management Limited) and also holds several directorships in certain other subsidiaries of the Company.