The board of directors of China Renaissance Holdings Limited announced that Mr. Cong Lin ("Mr. Cong") has been appointed as President of the Group, and also as the Chairman of China Renaissance Securities (Hong Kong) Limited and member of the Executive Committee of the Company, effective from July 1, 2020, reporting to Mr. Bao Fan, Chairman and Chief Executive Officer of the Group. Mr. Cong will be in charge of the development and management of the Group's investment banking business.