The Board of Pan Asia Environmental Protection Group Limited announced that the following changes in the Company with effect from 1 August 2021: Mr. Lai Wing Lee has tendered his resignation as an Independent Non-executive Director of the Company, a member of the Audit Committee, chairman of the Nomination Committee and chairman of the Remuneration Committee; and Mr. Chen Xuezheng has been appointed as an Independent Non-executive Director of the Company, a member of the Audit Committee, chairman of the Nomination Committee and chairman of the Remuneration Committee. Mr. Chen was a distinguished associate researcher in the School of Economics at Sichuan University from 2013 to 2018. His main research areas include new political economy, institutional economics and behavioral and experimental economics. He published five journal papers and several working papers from 2015 to 2019. He has won many awards for research excellence in this research areas, including the Excellent Paper Award in the 15th China Young Economists Forum, Outstanding Paper Award in the 1st China Behavioral and Experimental Economics Forum, and the 18th Sichuan Province Excellent Achievement Award in Social Science.