On December 8, 2021, Xiaoyue Zhang resigned from her position as an independent member of the Board of Directors of Wave Sync Corp., effective immediately. Ms. Zhang resigned due to her personal reasons. On December 10, 2021, the Board appointed Chiang Hsien as a new member of the Board to fill in the vacancy created by Xiaoyue Zhang’s resignation. Mr. Hsien, age 60, has over 30 years of experience in investment and asset management. From 2016 to 2020, he was an advisor to the Chairman of the Pacific Millennium Group, a leading packaging supplier in China. From 2013 to 2016, Mr. Hsien was a Partner and Chief Representative in Asia for Lingohr & Partner Asset Management, a German asset management company.