The board of directors of Global Strategic Group Limited announced that Mr. Cheung Tuen Ting, due to his decision to devote more time to his personal endeavours, Mr. Cheung has tendered his resignation as an executive director and Chief Executive Officer (the ‘CEO') of the company with effect from 24 January 2020. The Board also announces that Mr. Li Wentao (‘Mr. Li') has tendered his resignation as an executive director of the Company with effect from 24 January 2020. Meanwhile, the Board announced that Mr. Wang Wenzhou (‘Mr. Wang') has been appointed as an as an Executive Director and the CEO of the Company with effect from 24 January 2020.

Mr. Wang has over 25 years of experience in textile industry and in-depth knowledge in products operation, import and export trading and supply management. He also has practical experience in corporate operation management. Prior to joining the Company, he was a general manager of Shanghai An Lin Trading Limited and he also worked as a general manager at Shanghai Lan Hao Clothing Limited.

With effect from 24 January 2020, Mr. Cheung also ceased to be an authorised representative of the Company under Rule 5.24 of the GEM Listing Rules, and Mr. Wang has been appointed as the authorised representative of the Company under Rule 5.24 of the GEM Listing Rules.