Jupai Holdings Limited announced changes to the senior management team and board of directors of the company. Mr. Jianda Ni has been appointed as the Chief Executive Officer of the company and the Co-Chairman of the Board, effective immediately. Upon assuming his new roles, Mr. Ni no longer serves as the Executive Chairman of the Board.

Mr. Tianxiang Hu has resigned as the Chief Executive Officer of the company, effective immediately, due to personal reasons. Mr. Hu remains as the Co-Chairman of the Board.