The board of directors of Prosperity International Holdings (H.K.) Limited announced that with effect from 8 July 2019: Dr. Mao Shuzhong resigned as an executive Director and the chief executive officer of the company in order to devote more time to his personal business affairs; Mr. Wang Jiafu resigned as an executive Director in order to devote more time to his personal business affairs; and Mr. Kong Siu Keung resigned as an executive Director in order to devote more time to focus on his roles as chief financial officer and company secretary of the Company. Following his resignation taking effect, Mr. Kong ceased to be a member of the nomination committee of the company. Mr. Liu Yongshun resigned as a non-executive Director in order to devote more time to his personal business affairs; and Mr. Wu Likang resigned as a non-executive Director in order to devote more time to his personal business affairs.

Mr. Yung Ho resigned as an independent non-executive Director in order to devote more time to his personal business affairs. Following his resignation taking effect, Mr. Yung ceased to be a member of the audit committee of the company and the remuneration committee of the company; and Mr. Ma Jianwu resigned as an independent non-executive Director in order to devote more time to his personal business affairs. Following his resignation taking effect, Mr. MJ ceased to be a member of the Audit Committee and the Nomination Committee.

The board announced that Mr. Ma Xin have been appointed as executive Director with effect from 8 July 2019. The board also announced that Mr. Guan Guisen has been appointed as an independent non-executive Director, the chairman of the Remuneration Committee and a member of the Audit Committee and the Nomination Committee with effect from 8 July 2019. Mr. MX has extensive experience in financing and trust management.

Mr. MX served as the deputy general manager of investment banking department of Chang'an International Trust Company Limited from 2008 to 2018 and was responsible for loan financing, merger and acquisition and private equity investment. Mr. MX is currently the executive director and general manager of Oriental Patron Tenghua Financing Leasing (Shenzhen) Co., Limited. Mr. Guan has over twenty years of senior management experience in finance, property development and investment in the People's Republic of China.

Mr. Guan was a deputy president of Hainan Technology and Industry Group from 1990 to 1994. He served as a deputy president of Taihe Holdings Co. Ltd. from 2001 to 2003, a director of China Union Pay Data Services Co.

Ltd. from 2002 to 2005 and a general manager of Taihe Real Estate Co. Ltd. from 2003 to 2007. He was also a director of China Union Loyalty Co.

Ltd. from August 2008 to October 2014. Mr. Guan was the chairman of Beijing Shangyin Investment Consultancy Co. Ltd. from April 2010 to March 2011.

Mr. Guan acts as the chairman of Beijing Dongsen Jinbi Investment Consultancy Co. Ltd. since August 2008. Mr. Guan is currently the chairman and executive director of China Yiuzan Limited.