On November 19, 2019, Renhui Mu resigned from his position as chairman of the board of directors of Wins Finance Holdings Inc. (he remains the chief executive officer and a directors of the company), and Junfeng Zhao resigned from his position as a director of the company (he remains the chief financial officer of the company). Also on November 19, 2019, the company appointed Haoying Yang as chairman of the board of directors of the company and Zhide Zhou was appointed as chief operating officer of the company. Zhide Zhou has nearly 30 years of experience in the securities industry. He has served as General Manager of Institutional sales for Freeman FinTech Corporation Limited since October 2017. Yang Haoying joined Freeman FinTech Corporation Ltd, the major shareholder of the Company, in August 2016 and was appointed as an Executive Director in October 2016. Mr. Yang was re-designated as Chief Operating Officer in January 2017 and re-designated from Chief Operating Officer to Chief Executive Officer in July 2018.