Yulong Eco-Materials Limited announced on January 30, 2018 that effective immediately, the board accepted Mr. Yulong Zhu's resignation from the board of directors and appointed Mr. Wancheng Xie as a director to fill in the vacancy created by Mr. Zhu's resignation. Mr. Zhu will continue as the CEO of the Company. Mr. Xie is also appointed as chairman of the board. Since January 2014 he has served as President of Shenzhen Motian Gaoxin Group. From March 2010 to October 2013 he served as Chief Operating Officer of Shenzhen Asayi Investment Company where he was responsible for regional construction and national network sales of consumer goods.