The board of directors of Xinji Shaxi Group Co. Ltd. announced that Mr. Li Zhanpeng has tendered his resignation as a non-executive Director of the Company with effect from 1 March 2020 so as to allow him to devote more time to his personal matters. The board also announced that Mr. Lin Lie has been appointed as a non-executive Director of the Company to replace Mr. Li with effect from 1 March 2020. Mr. Lin has solid experience in global investment management. Since April 2017, Mr. Lin has been the president of Lion Rock Capital Management Limited, a company which he founded and licensed by the Securities and Futures Commission to carry out type 9 (asset management) regulated activities, and the executive director of Avant Investment (HK) Limited.