The board of directors of Century Ginwa Retail Holdings Limited announced that with effect from 24 June 2020, Mr. Huang Shunxu ("Mr. Huang") has been appointed as an executive Director; Mr. Li Yang ("Mr. Li") has been appointed as a non-executive Director; Mr. Qi Yong ("Mr. Qi") has been appointed as an executive Director; and Ms. Wan Qing ("Ms. Wan") has been appointed as an executive Director. Following the appointment of Mr. Huang as an executive Director, Mr. Huang has been further appointed as chairman of the Board with immediate effect. Mr. Huang is experienced in financial affairs. Mr. Huang has joined Xi'an Qujiang Cultural Financial Holdings (Group) Co. Ltd. since September 2018 and is currently chairman of the board. From 2009 to 2017, Mr. Huang worked at the finance office of Xi'an Economic & Technological Development Zone. Mr. Li is experienced in financial affairs and mergers and acquisitions. Mr. Li has joined Shaanxi Investment and Financing Guarantee Co. Ltd. since August 2017 and is currently the deputy general manager and deputy executive manager. Mr. Qi has over 20 years of experience in commerce, retail and property management. He has been the management of Xi'an Vanke Enterprise Management Co. Ltd. since July 2017 responsible for commerce, office and hotel business, and the general manager of Xi'an Vanke Commercial Management Co. Ltd. Ms. Wan is experienced in financing, finance and mergers and acquisitions. She joined the Group since 2008, and holds the positions as financial controller and deputy general manager of Century Ginwa Co. Ltd. In June 2020, Ms. Wan was appointed as a vice president of the Group.