The board of directors of Cybernaut International Holdings Company Limited announced that, with effect from 12 April 2018, Mr. Gao Xiang resigned as an executive director and chief executive officer of the company due to his intention to concentrate more on his other business engagements in PRC. Following the resignation of Mr. Gao Xiang, the Board further announced that with effect from 12 April 2018, Dr. Wang Matthew Yang, who was a co-chief executive officer of the company, has been re-designated as the chief executive officer of the company.