The board of directors of China Fortune Holdings Limited announced that Mr. Gao Fei, an executive Director, Mr. Bao Kang Rong, the non-executive Director and Mr. Lam Man Kit, an independent non-executive Director have tendered their resignation as executive Director, non-executive Director and independent non-executive Director respectively due to their other business commitments with effect from 1 September 2020. Mr. Gao will continue to remain as a director of one of the Company's non-wholly-owned subsidiary, Zhejiang Aoying Information Technology Co. Ltd. The board announced that Mr. Hou Zhenyang and Mr. Fok Wai Ming, Eddie have been appointed as non-executive Director and independent non-executive Director with effect from 1 September 2020 respectively. Mr. Hou has over 15 years of experience in real estate investment trust finds (REITs), real estate development, management, acquisition, asset management, insurance and business management. Mr. Fok has over 20 years of experience in accounting, finance and corporate management of both listed and unlisted companies in Hong Kong. Both will hold office until the next general meeting of the company. Following Mr. Lam's resignation and cessation as the chairman of the audit committee and remuneration committee and a member of the nomination committee, Mr. Fok has been appointed as the chairman of the audit committee and remuneration committee and a member of the nomination committee with effect from 1 September 2020. Fok is currently the director of Wayze Professional Services Limited.