The board of directors of China Innovationpay Group Limited announced that Dr. Lei Chunxiong has tendered his resignation from his position as an executive Director, member of nomination committee and remuneration committee and authorized representative of the company with effect from 19 June 2015 for the reason to devote more time to his other personal commitments. The Board also announced that Mr. Cao Chunmeng has been appointed as member of nomination committee and remuneration committee and authorized representative of the company with effect from 19 June 2015.