The board of directors of Ta Yang Group Holdings announced that Mr. Yin Zhiqiang ("Mr. Yin") has tendered his resignation as an executive Director and chairman of the Executive Committee of the Company as well as al positions, roles and duties within the Group, al with effect from 11 January 2021 due to other work commitments. With effect from 11 January 2021, Mr. Liu Wengang, an executive director and the chief executive officer of the Company, has been appointed as the chairman of the Executive Committee of the Company.