The board of directors of Hengxing Gold Holding Company Limited announced that Ms. Yang Yifang has tendered her resignation and will cease to act as an executive Director, the President of the Company and a member of Nomination Committee with effect from 1 April 2020 in order to devote more time to her family and other personal affairs. Following the resignation of Ms. Yang Yifang (Lydia Yang), Mr. Ke Xiping (‘Mr. Ke’), an executive Director and the chairman of the Board, has been appointed as the President of the Company and a member of the Nomination Committee with effect from 1 April 2020, to temporarily take up the duties of Ms. Yang Yifang (Lydia Yang) until a suitable candidate is appointed. Mr. Ke Xiping is the founder of the Group. Mr. Ke has been an executive Director and the chairman of the Board since the incorporation of the Company in April 2012, responsible for overall strategies and operations of the Group. He has also been the founder of Xiamen Hengxing Group Co. Ltd. With effect from 1 April 2020 and Mr. Ke Jiaqi, an executivse Director, has been appointed as the Authorised Representative with effect from 1 April 2020.