On March 19, 2015, the holders of more than a majority of the issued and outstanding common stock of China Teletech Holding, Inc. removed Mr. Dong Liu, without cause, from his positions as a member of the Board of Directors of the Company and as the Chairman of the Board, effectively immediately. On March 19, 2015, the Majority Shareholders elected Ms. Yankuan Li as the Chairwoman of the Board, effective as of March 20, 2015.