The board of directors of Zhejiang Chang'an Renheng Technology Co., Ltd. announced that due to re-designation of the Board and senior management of the Company, Mr. Chau Kam Wing, Donald has tendered a resignation notice resigning as an independent non-executive director, the chairman of the audit committee and the remuneration committee on 22 March 2019. The Resignation of Mr. Chau shall become effective on Saturday, 11 May 2019, i.e. the date of the forthcoming annual general meeting. The Board announced that Mr. Liang Guoping has tendered his resignation as an employee representative supervisor of the Company on 22 March 2019. The Resignation of Mr. Liang shall become effective on 11 May 2019, i.e. the date of the AGM. The reason for the Resignation of Mr. Liang is re-designation of the Board and senior management of the Company. Mr. Liang will remain a member of the management of the Company after the Resignation of Mr. Liang. Following the Resignation of Mr. Chau, subject to Shareholders' approval at the AGM, the Board is announced that Mr. Zhang Lei will be appointed as an Independent Non-executive Director, the chairman of the audit committee and the remuneration committee of the Company. The proposed term of Mr. Zhang's service is from the date of the forthcoming AGM to the date of the annual general meeting of the Company of the year 2022. Mr. Zhang Lei, aged 38, is a proposed independent non-executive director of the Company. Following the Resignation of Mr. Liang, subject to Shareholders' approval at the AGM, the Board is announced that Ms. Li Lijiao will be appointed as an employee representative Supervisor of the Company. Ms. Li Lijiao, aged 30, was elected as the employee representative to serve as a Supervisor on 16 June 2018.