The board of Xingye Alloy Materials Group Limited announced that Mr. DAI Jianchun resigned as non-executive Director and ceased to act as a member of each of the audit committee and nomination committee of the Board with effect from 24 June 2020 due to his intention to dedicate more time to his venture capital business. The Board also announced that Dr. LOU Dong, an independent non-executive Director, has been appointed as a member of audit committee of the Company with effect from 24 June 2020.