On February 6, 2019, Ms. Mei Yang submitted her resignation as the Chief Executive Officer to the board of directors of Wave Sync Corp., effective January 29, 2019. Ms. Yang shall remain as the Chairperson of the Board to oversee the development of the company. Ms. Yang resigned as the Chief Executive Officer for personal reasons and not as a result of any disputes or disagreements between Ms. Yang and the company on any matter relating to the company's operations, policies or practices.

On February 4, 2019, the Board of the company reappointed Mr. Zuyue Xiang as the Chief Executive Officer of the company, effective January 29, 2019. Mr. Zuyue Xiang worked as the CEO of the company during the period from November 2015 to June 2018. Then Mr. Xiang served as the CEO of Guangdong Qi Long Internet Technology Co.

Ltd. briefly from July 2018 to January 2019. On February 4, 2019, the Board appointed Mr. Zhenpeng Gao as the Chief Financial Officer of the company, effective January 29, 2019. Mr. Zhenpeng Gao was the chief accounting officer of both Guangzhou Rongsheng Information Technology Co.

Ltd. and Shenzhen Qianhai Zhuozhi Changtian Technology Co. Ltd., two affiliates under common control of the Company, since January 2015.