The board of directors of Huan Yue Interactive Holdings Limited announced that Mr. CHEN Jianhua has resigned as executive Director due to personal reasons with effect from 13 December 2018. The Board supplemented the reason for Mr. Chen's resignation was that he was also appointed in September 2018 as a manager of Ningbo Xingye Shengtai Group Co. Ltd. (the Subsidiary), a major subsidiary in the Group. In order to balance his work commitment in the Group and to focus on the management of the Subsidiary, he decided to resign from the position as an executive director of the company.