The board of directors of Zheng Li Holdings Limited announced that Mr. YUAN Guoshun, an executive Director of the company, has been appointed as a co-chairman of the Board of the company with effect from 19 November 2018. Mr. Yuan has served in companies engaged in food production and sales and corporation management consulting for 20 years. From June 2014 to June 2015, Guoshun has served in various companies such as Henan Aoke Condiments Co. Ltd. and Henan One Nine Industry Co. Ltd. Following the appointment of Mr. Yuan as Co-Chairman, Mr. Kelvin LIM will be re-designated as Co-Chairman and will remain as an executive Director and the chief executive officer of the company. Following the re-designation, Mr. Kelvin LIM as the Co-Chairman will continue to be the responsible person providing leadership to and overseeing the management of the Board, while Mr. Yuan will be primarily responsible for overall leadership in the business development of the Company in the PRC region.