The board of directors of Grandshores Technology Group Limited announced that Mr. Li Xiaolai resigned as an executive Director and co-chief executive officer of the company with effect from 8 May 2019 as he has decided to devote more time on frontier research in blockchain field. The Board announced that Ms. Li Jia has been appointed as an executive Director and the co-chief executive officer of the Company with effect from 8 May 2019. Ms. Li has had experience of management in large-scale enterprise for over ten years, with extensive networks, resources and practical experience in the industrial hemp sector and capital market inside and outside the country, familiar with the status quo and developmental trend of worldwide industrial hemp sector.

Ms. Li will be dedicated to the Group's new business related to industrial hemp.