The Board of Directors of Bojun Education Company Limited announced that, with effect from 25 March 2020, Ms. Liao Rong would resign as an executive Director due to her intention to devote more time to her other business commitments and personal matters; and Mr. Xiong Tao would cease to be the chairman of the Board and the chairman of the nomination committee of the Company due to re-designation of Director's function and responsibility. Mr. Xiong would remain as an executive Director. The Board announces that Mr. Wang Jinglei ("Mr. Wang") would be appointed as an executive Director, the Chairman of the Board and the Chairman of the Nomination Committee with effect from 25 March 2020. Wang has approximately 30 years of experience in the finance industry. From May 2013 to December 2019, Mr. Wang worked as a general manager at Sichuan Xinxing Financial Guarantee Company Limited. Mr. Wang entered into a service agreement with the Company for an initial term of three years commencing from 25 March 2020. The service agreement shall renew after expiry and continue thereafter, until it is terminated by either party giving to the other not less than three months' prior notice in writing.