The board of directors of E-Commodities Holdings Limited announced that the company has received a letter from Mr. Wang Wengang, the executive director of the Company and the chief executive officer of the Company, who will cease to act as executive Director and CEO with effect from 18 July 2019 due to the expiration of his term of office under the service contract and will not to offer himself for re-appointment for another term. The Board further announced that Ms. Di Jingmin has been appointed as an executive Director with effect from 18 July 2019. The Board further announce that Ms. Cao Xinyi has been appointed as the CEO with effect from 18 July 2019.

Ms. Di Jingmin, currently the vice president of the Company. Ms. Di joined the Group Company in 1995 and serves as the deputy general manager of the resources coordination center, general manager of the management center and general manager of storage and logistics department of the group company. Ms. Cao Xinyi, is an executive Director, the chairman of the Board and the company secretary of the Company.

Ms. Cao joined the Company in 2009. She has long-term experience in the business and operations of the Company, and she has been closely involved with the financial affairs of the Company and has a great deal of experience in respect of investors' relationship since joining the Company.