The Board of Great Wall Pan Asia Holdings Limited announced that due to internal re-designation of duties, Mr. Huang Hu, an executive director of the company, has ceased to be the Chief Executive Officer of the company. with effect from 8 December 2020 and will continue to act as an executive director, Chairman of the Board and chairman of the Nomination Committee of the company. Following the cessation of Mr. Huang as Chief Executive Officer, the Board also announced that Mr. Xu Yongle has been appointed as the Chief Executive Officer of the company with effect from 8 December 2020 to succeed Mr. Huang. From February 2019 to November 2020, he served as the deputy general manager of Great Wall International (in charge of operations).