The board of directors of 7Road Holdings Limited announced that, with effect from December 14, 2018, Mr. Wang Chendong has resigned as an executive director of the Company. The Board further announced that, with effect from December 14, 2018, Mr. Ho Chit has resigned as an independent non-executive director of the Company due to personal reason. The Board further announced that, with effect from December 14, 2018, Mr. Xue Jun has been appointed an Independent Non-Executive Director. Mr. Xue, has over 20 years of experience in auditing and financial management. Mr. Xue served as an audit manager in PricewaterhouseCoopers from July 1998 to October 2005. He has been acting as a partner and the deputy principal of Shanghai My Whole Way Certified Public Accountants since October 2005. The Board hereby announced that with effect from December 14, 2018: following the resignation of Mr. Ho as an Independent Non-Executive Director, Mr. Ho ceased to be the chairman of the audit committee of the Company, a member of the remuneration committee of the Company and a member of the nomination committee of the Company; and Mr. Xue has been appointed as the chairman of the Audit Committee, a member of the Remuneration Committee and a member of the Nomination Committee.