Effective on August 1, 2022, the board of directors of Takung Art Co., Ltd. appointed Mr. Kuangtao Wang, the current Co-Chief Executive Officer of the Company, as the chairman of the Board, and appointed Mr. Guisuo Lu as a new independent director of the Board. The biographical information of Mr. Lu is set forth below. Mr. Guisuo Lu has served as the financial consultant of Shandong Yuntong Commercial Co., Ltd. since March 2020.

From October 2013 to March 2020, Mr. Lu served as vice president of Yinsheng Financial Group and Yinsheng Payment Service Co., Ltd. From January 2005 to September 2013, Mr. Lu served in various positions including assistant general manager, deputy general manager and general manager at Terminal Service Center of Unionpay Commercial Co., Ltd., Hebei Branch. Mr. Lu graduated from Hebei Bank School in 1982 and graduated from Hebei Radio and TV University Hengshui Branch in 1988.