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,
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
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.
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
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