The board of directors of Zheng Li Holdings Limited announced that Mr. YUAN Guoshun (Mr. Yuan) has been re-designated from executive Director to non-executive Director, and Mr. WU Tangqing (Mr. Wu) has been re-designated from non-executive Director to executive Director, both with effect from 7 April 2020. Following the re-designation of Directors, Mr. Yuan ceased to be a co-chairman of the Board (Co-Chairman) and Mr. Wu has been appointed as a Co-Chairman (the Appointment) with effect from 7 April 2020. Mr. Yuan, aged 49, was re-designated from an executive Director to a non-executive Director of the Company as recommended by the nomination committee of the Company and approved by the Board. Mr. Yuan had been an executive Director of the Company from 7 November 2018 to 7April 2020. Mr. Wu, aged 51, was re-designated from a non-executive Director to an executive Director of the Company as recommended by the nomination committee of the Company and approved by the Board. He has been a non-executive of the Company from 23 April 2018 to 7 April 2020. Mr. Wu was appointed as a Co-Chairman on 7 April 2020.