Champion Alliance International Holdings Limited announced that with effect from 15 April 202, Mr. He Guangrui currently the chief executive officer of the Company, has been re-designated as the joint Chief Executive Officer of the Company. He will focus on the overall control and strategic planning of the Company and its subsidiaries and continue to closely work with the management team towards the Group's business development; and Mr. Chen Xiaolong currently an executive Director, has been re-designated from his position as the chief operating officer of the Company to the Joint Chief Executive Officer. Following such re-designation, there will no longer be a position of chief operating officer in the Company until the Company finds a suitable candidate to fulfill such position.

Mr. Chen will focus on the operations of the Group. Mr. He, aged 40, has approximately 10 years of experience in corporate finance matters. He was appointed as the president of Shenzhen Qiaoxing Investment Co.

Ltd. in April 2017. 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.