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CODE CHAIN NEW CONTINENT LIMITED

(CCNC)
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CODE CHAIN NEW CONTINENT LTD : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

04/08/2021 | 05:02pm EDT

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 7, 2021, Mr. Yimin Jin tendered his resignation as a director and Co-Chairman of the Board of Director of Code Chain New Continent Limited (the "Company"), effective immediately. Mr. Jin's resignation was not a result of any disagreement with the Company's operations, policies or procedures. Mr. Jin remains as the Co-CEO of the Company.

On April 7, 2021, approved by the Board of Directors, Nominating and Corporate Governance Committee and the Compensation Committee of the Company, Mr. Zijing (Ryan) Xu was appointed a director and Chief Strategy Officer of the Company, effective immediately.

The biographical information of Mr. Zijing (Ryan) Xu Yu is set forth below:

Mr. Zijing (Ryan) Xu is the Co-founder of Blockchain Global, a Blockchain venture in Australia, Collinstar Capital, a fully licensed financial company in Australia, and Rongyitou Internet Financial Services Co. Ltd., an intermediary wealth management platform in China. Based in Melbourne Australia, Mr. Xu is one of the most influential Key Opinion Leaders in Chinese Digital Currency and Blockchain community. He is also a member of the Asian DACA Blockchain Association and Chairman of HCash Foundation. Mr. Xu has been dedicated to the Bitcoin industry since 2014, with extensive experience in Blockchain, mining, and investment. Mr. Xu graduated from Shanghai Jiao Tong University in China with a bachelor's degree in electronic information and electrical engineering. Mr. Xu will be the driving force behind the Company's strategic focus on Bitcoin mining and bring expertise to pioneer Blockchain technology, expand into new markets and leverage new platforms that are especially timely in a fast-changing business environment.

Mr. Xu does not have a family relationship with any director or executive officer of the Company. Mr. Xu has not been involved in any transaction with the Company during the past two years that would require disclosure under Item 404(a) of Regulation S-K.

Mr. Xu entered into an employment agreement with the Company and agreed to receive an annual compensation of $120,000, effective April 7, 2021. The employment agreement is qualified in its entirety by reference to the complete text of the agreement, which is filed hereto as Exhibits 10.1.

Item 9.01 Financial Statements and Exhibits.




(d) Exhibits.



Exhibit No.   Description

10.1            Employment Contract between the Company and Zijing (Ryan) Xu, dated
              April 7, 2021

99.1            Correspondence of Yimin Jin's Resignation as a director and
              Co-Chairman of the Board of the Company, dated April 7, 2021

99.2            Press Release - Code Chain New Continent Limited Announces Appointment
              of Well-known Blockchain Investor 'Martian' Zijing (Ryan) Xu as Chief
              Strategy Officer and Director




                                       1

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2020 11,9 M - -
Net income 2020 2,51 M - -
Net cash 2020 3,72 M - -
P/E ratio 2020 22,0x
Yield 2020 -
Capitalization 101 M 101 M -
EV / Sales 2019 1,16x
EV / Sales 2020 4,46x
Nbr of Employees 54
Free-Float 51,4%
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Managers and Directors
NameTitle
Yimin Jin Co-Chief Executive Officer
Weidong Feng Co-Chief Executive Officer
Wei Xu Chairman & President
Yi Li Chief Financial Officer & Secretary
Jianan Liang Chief Operating Officer
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