Wins Finance Holdings Inc. announced that on March 20, 2016, Bradley Reifler and Nicholas Clements resigned from their position as a director of the company, effective immediately. Also on May 20, 2016, the company's Board of Directors appointed Haiming Guo and Guo Chen to be directors of the company. The company's Board of Directors also determined that Mr. Guo and Mr. Chen were independent under the Nasdaq Marketplace Rules and appointed each of them to the Audit Committee, Nominating Committee and Compensation Committee of the company's Board of Directors.