On April 1, 2020, Mr. Ping Chen resigned from his positions as Chief Executive Officer and director of Lianluo Smart Limited, effectively immediately. Mr. Chen's resignation was due to personal reasons and not because of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. On the same date, the Board of Directors of the Company appointed Mr. Zhitao He as Chief Executive Officer of the Company.

Mr. He has served as chairman and director of the Company since October 2016. The Board of Directors also appointed the Company's Interim Chief Financial Officer, Ms. Yingmei Yang, as a director to fill the vacancy created by Mr. Chen's resignation.