On May 16, 2019, Zhentao Jiang tendered his resignation as director and Chairman of the Board of Directors of AGM Group Holdings Inc, effective May 19, 2019. Mr. Jiang’s resignation from the Board is not the result of any disagreement with the Company’s operations, policies or procedures. On May 19, 2019, at the recommendation of the Nominating Committee and the Compensation Committee, the Board approved, confirmed and ratified the appointment of Bin Cao as a director and the Chairman of the Board of the Company, effective May 20, 2019 until the Company’s next annual meeting of shareholders and until his successor is duly elected and qualified, or until his earlier death, resignation or removal. Mr. Cao will be serving on the Board as the Chairman of the Board. Bin Cao has more than twenty years of management experience. He is experienced with financing, real estate and asset management. He has been providing industry, investment and asset management consultation to individuals, private equity funds, and banks since 2005. From 2001 to 2005, Mr. Cao was the Chairman of the Board of Changchun Weide Paratheatrical Co. Ltd.