The board of directors of China Trustful Group Limited and its subsidiaries announced that Mr. Law Yiu Sang, Jacky has been appointed as independent non-executive director, member of each of audit committee, remuneration committee and nomination committee of the Company with effect from 17 January 2020 in place of the resignation of Mr. Shen Ruolei ("Mr. Shen") as independent non-executive director, member of each of audit committee, remuneration committee and nomination committee of the Company and such other positions may be holding in the Group with effect from 17 January 2020 due to his desire to devote more time to other businesses. Mr. Law, aged 55, holds a bachelor of laws degree from Manchester Metropolitan University. From 2006 to 2007, Mr. Law was a member of The Chartered Institute of Arbitrator. Mr. Law has previously worked in a number of different law firms and has over 30 years' experience in assisting in management and legal documentation. Mr. Law has entered into a service agreement with the Company for a term of 1 year commencing from 17 January 2020 and his term is subject to retirement and re-election according to the Bye-laws of the Company and the Rules Governing the Listing of Securities on the GEM Stock Exchange (the "GEM Listing Rules"). Mr. Law's annual remuneration package will be HKD 240,000, which is determined by reference to Mr. Law's experience, duties and the prevailing market conditions, as well as the Company's remuneration policy, and has been approved by the remuneration committee and the Board of the Company. The Board announces that, following the Change of Directors with effect on 17 January 2020, the composition of the respective committees of the Board be changed as follows: Audit committee of the Company comprises Mr. Sit Sai Hung, Billy (as chairman) ("Mr. Sit"),Mr. Lai Wing Kwan ("Mr. Lai") and Mr. Law. Remuneration committee of the Company comprises Mr. Sit (as chairman), Mr. Lai and Mr. Law. Nomination committee of the Company comprises Mr. Lai (as chairman), Mr. Sit and Mr. Law.