Effective December 13, 2019, Mr. Jiming Ha resigned from his position as a member of the Board of Directors of Luokung Technology Corp. Mr. Ha indicated that his resignation from the Board is not the result of any disagreement with the Company. Shareholders of the Company's ordinary shares and preferred shares, voting together as a single class, elected Mr. David Wei Tang and Mr. Bryan Yap to serve as directors on the Company's Board of Directors effective immediately. Messrs. Tang and Yap will each serve on the Company's audit committee of the Board of Directors. Mr. David Wei Tang: Prior to joining Company, Mr. Tang served as President of Huakang Financial Holdings, a Chinese multi-disciplinary financial holdings group with subsidiaries in investments, insurance, wealth management and financial technology. Mr. Jin Meng Bryan Yap: Mr. Yap has extensive experience in investment banking, financial and business consulting, financial structuring, capital raising, portfolio optimization and balance sheet restructuring. He is currently the CEO and Managing Director of Daun Consulting Singapore Pte Ltd, a single family office focusing on consulting and selective investments.