Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

On December 10, 2020, Mr. Chi Kin Loo ("Mr. Loo"), a majority shareholder of the Company, was appointed as a director of the Board, effective immediately.

The biography for Mr. Loo is set forth below:

Chi Kin Loo, age 52, is our major shareholder prior to his appointment as a director of the Board on December 10, 2020. Prior to joining the Company, Mr. Loo has been working in the financial industry for over 15 years, specialized in wealth management and insurance. Since 2011, Mr. Loo has been a regional manager of FTLife Insurance Company Limited, a wholly-owned subsidiary of NWS Holdings Limited. In 2014, Mr. Loo was awarded the Distinguished Manager Award by the Life Underwriters Association of Hong Kong Ltd. From 2011 to 2014, Mr. Loo served as a director of Universal Mining Group Holdings Ltd. Mr. Loo has been granted license Type 1, 7 and 8 by the Hong Kong Securities and Investment Institute. Mr. Loo graduated from Buddhist Sum Heung Lam Memorial College in 1985.

Mr. Loo has no family relationships with any of the executive officers or directors of the Company. There is no employment agreement between the Company and Mr. Loo, nor are there any arrangements or plans in which the Company will provide compensation, bonus, pension, retirement, or similar benefits to Mr. Loo. There have been no transactions to which the Company was or is to be a party, in which Mr. Loo had, or will have, a direct or indirect material interest.






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