The board of directors of Huifu Payment Limited announced that Ms. ZHANG Qi has tendered her resignation as an independent non-executive Director, the chairwoman of the remuneration committee of the Company member of both of the audit committee of the Company and the nomination committee of the Company with effect from 25 August 2020 due to other personal commitment. The Board further announced that Mr. JIANG Hong has been appointed as an independent non-executive Director, the chairman of the Remuneration Committee, a member of both of the Audit Committee and the Nomination Committee with effect from 25 August 2020. He is currently the vice president of Shanghai Huarui Bank Co. Ltd.