On September 8, 2017, Mr. Jun Liu notified Asia Equity Exchange Group, Inc. of his resignation from chairman and a member of the board of directors and the position as the president and Chief Executive Officer and President of the company, effective immediately. Mr. Liu's decision to resign did not result from any disagreement with the company on any matter relating to the company's operations, policies or practices. On September 8, 2017, the board appointed Mr. Xiangyu Wang to fill the vacancy of Chairman, director, the president and CEO created by the resignation of Mr. Jun Liu, effective immediately.

Mr. Xiangyu Wang has served as the vice president of the company since February 2017. From October 2015 to February 2017, he served as the general manager and founding partner of Shenzhen Qianhai Ruixin Capital Management Co., Limited. From April 2015 to October 2015, he served as the vice president of Moxian, Inc. From June 2013 to February 2015, he served as the founding partner and chief consultant in Shanghai Chenshi Management Consulting Co.

Ltd. From May 2009 to May 2013, he served as the executive vice president in Shanghai Shipeng Laboratory (Science and Technology) Group.