The board of directors of China Fordoo Holdings Limited announced that Mr. Shen Li has tendered his resignation as an independent non-executive director, a member of the audit committee of the company, a member of the remuneration committee of the company and a member of the nomination committee of the company, all with effect from 1 February 2018 due to his other business commitments which require more of his time and dedication. Mr. Shen has confirmed that he has no disagreement with the Board and that there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the company. The Board further announced that Ms. Huang Yumin will be appointed as an independent non-executive director of the Company, a member of the Audit Committee, a member of the Remuneration Committee and a member of the Nomination Committee of the Company, all with effect from 1 February 2018. Ms. Huang had worked as vice president in Kunwu JiuDing Capital Co. Ltd. from 2011 to 2012, and also served various positions in Bank of China International Capital Limited from 2009 to 2011 and Fortis HaiTong Investment Management Co. Ltd. from 2007 to 2008. Pursuant to the letter of appointment proposed to be entered into between Ms. Huang and the company, the appointment of Ms. Huang will be for an initial period of three years commencing on 1 February 2018.