The board of directors of Cowell e Holdings Inc. announced that Mr. Luo Zhenbang has resigned as an independent non-executive Director of the company, the Chairman of the audit committee of the company, and a member of each of the remuneration committee and the nomination committee of the company with effect from 26 July 2021 in order to devote more time to his personal business. The Board further announces that Ms. Liu Xia has been appointed as an independent non-executive Director, the Chairman of the Audit Committee, and a member of each of the Remuneration Committee and the Nomination Committee with effect from 26 July 2021. From July 1988 to February 1993, she was appointed as a staff member and Chief Officer of the Finance Department's Plant Representative Office of Ansteel Group Corporation Limited by the Finance Bureau of Anshan City, Liaoning Province under the Ministry of Finance of the People's Republic of China, in which role she undertook supervision and review of finance matters and formulation of policies for state-owned enterprises. From March 1993 to March 1999, she successively worked as Project Manager, Department Manager, Chief Accountant and Deputy General Manager of DeveChina International Appraisals Co. Ltd.