Allied Ventures Holdings Corp. announced Mr. G. Reed Petersen resigned in all officer capacities from the company and Mr. Xi Zhen Ye, President of Longwen, was appointed a Director of the company and President and Chief Executive Officer and Chief Financial Officer of the company. Mr. Ye will be appointed as the company's Chairman of the Board at that time.

Xi Zhen Ye has been the company's Chief Executive Officer and Chief Financial Officer since November 4, 2016. Mr. Ye, a businessman in Hangzhou, China. He has operated and invested in several local companies with notable success, including news distribution network, films, mining, energy and Chinese traditional medicine.

Mr. Keith Wong was appointed Chief Operating Officer of the company. Mr. Wong brings 27 years of experience in sales, business management, finance, manufacturing, Asian suppliers and Asian business networks. For over twelve years, Mr. Wong was the President and CEO of ATC Technology Group.