The board of directors of China Trustful Group Limited and its subsidiaries (the Group) announces that (i) Mr. Lo Wing Sang (Mr. Lo) has resigned as executive Director, the company secretary and an authorised representative of the company and such other positions may be holding in the Group, all with effect from 30 July 2020 (the Resignations) due to his desire to devote more time to his other businesses; and (ii) Mr. Wong Ching Fai, William, executive Director, has been appointed as an authorised representative of the company in place of Mr. Lo with effect from 30 July 2020 (the Change of Authorised Representative). The Board has approved the resignations and the change of Authorised Representative and the nomination committee of the company has approved the resignation of Mr. Lo as executive Director. The Board also announced that there was changes in the chairman of nomination committee of the company (NC) and remuneration committee of the company (RC), with effect from 30 July 2020 (the Changes). The Board announced that Mr. Man Wai Lun, an independent non-executive Director (INED), has been re-designated from a member to the chairman of NC and Mr. Law Yui Lun, an INED, has been re-designated from the chairman to a member of NC, both with effect from 30 July 2020. Mr. Sit Sai Hung, Billy, an INED, remains as a member of NC. The Board announced that Mr. Law Yui Lun, an INED, has been re-designated from a member to the chairman of RC and Mr. Sit Sai Hung, Billy, an INED, has been re-designated from the chairman to a member of RC, both with effect from 30 July 2020. Mr. Man Wai Lun, an INED, remains as a member of RC.