The board of directors of Royal China International Holdings Limited announced that with effect from December 31, 2018, Mr. Lee Frank King-ting (Mr. Lee) has resigned as the independent non-executive Director due to his other business commitments. Following the Resignation, Mr. Lee ceased to be the member of the audit committee of the Company and the chairman of the nomination committee of the Company with effect from December 31, 2018. Mr. Lee ceased to hold any position within the Group following the Resignation. The Board announced that Mr. Lu Zhuohui (Mr. Lu) has been appointed as the independent non-executive Director; the member of the Audit Committee; and the chairman of the Nomination Committee with effect from January 1, 2019. Mr. Lu, aged 35, has extensive financial management experience. Mr. Lu had served KPMG Huazhen Certified Public Accountants for more than 10 years and provided services to numbers of large Chinese companies and multinational corporations and international organizations. Mr. Lu is currently the Chief Financial Officer of Guangzhou 711 Electronic Information Technology Company Limited which is mainly engaged in finance lease, intelligent travel platform and data management business. The Board is also pleased to announce that Ms. Gao Jinyi (Ms. Gao) has been appointed as the executive Director with effect from January 2, 2019. Ms. Gao, aged 36, has extensive experience in fund management and investment. Ms. Gao has held various senior management positions in financial institutions of Mainland China and overseas. Prior to her appointment, Ms. Gao was Senior Investment Director of China Region in Ping An Securities Limited and Investment Director and senior management of private equity fund of Zhongrong Huixing Asset Management Co. Ltd. From 2010-2012, Ms. Gao was appointed as a member of Financial Professional Committee of the Guangdong's Association for Promotion of Cooperation Guangdong, Hong Kong & Macao which conduct research on key projects in Guangdong, Hong Kong and Macau and provide professional advice to the government on financial development for promoting the cooperation among enterprises in Guangdong, Hong Kong and Macau and closely cooperation among the three regions.