The Board of Champion Alliance International Holdings Limited announced that Mr. He Guangrui did not offer himself for re-election at the AGM and accordingly retired as an executive Director and resigned as the joint chief executive officer of the Company with effect from 24 June 2020 due to his personal reason and other commitments which require more of his dedication. The Board announced that, with effect from 24 June 2020, Mr. Chen Xiaolong (Mr. Chen'), currently an executive Director, has been re-designated from his position as the joint chief executive officer of the Company to the chief executive officer of the Company. He will focus on the overall control and strategic planning of the Group and closely work with the management team towards the Group's business development. Mr. Chen has over 6 years of experience in the paper manufacturing industry. He graduated from the University of Northumbria at Newcastle, the United Kingdom, and was awarded a bachelor's degree of science in sport management in June 2012. Since July 2012, Mr. Chen has been working as the chief operating officer at Shandong Jiexin Paper Manufacturing Limited. Mr. Chen has been serving as the vice president of Shandong Private Entrepreneurs Association since 2017.