The board of directors of Loto Interactive Limited announced that with effect from 2 January 2020, Mr. Pan Zhengming ("Mr. Pan") has resigned as the chairman of the Board, a non-executive Director and the chairman of the nomination committee of the Company. Mr. Pan has tendered his resignation due to his other work commitments which require more of his time and attention. The Board announced that, with effect from 2 January 2020, Ms. Zhang Jing ("Ms. Zhang") has been appointed as the chairman of the Board, a non-executive Director and the chairman of the nomination committee of the Company. Ms. Zhang joined 500.com Limited (NYSE stock code: WBAI), a company listed on the New York Stock Exchange and the holding company of the Company, since April 2007. She is currently the senior director of human resources of 500.com Limited and a director of certain subsidiaries of 500.com Limited. Ms. Zhang was the vice president of 500wan HK Limited, a subsidiary of 500.com Limited, from April 2017 to June 2018.