The board of directors of Yadea Group Holdings Ltd. announced that Mr. Liu Yeming has resigned as an executive Director, the chief executive officer and the authorised representative of the company under Rules 3.05 of the Rules Governing the Listing of securities on The Stock Exchange of Hong Kong Limited with effect from 14 May 2019 due to his desire to devote more time to his personal affairs. Ms. Qian Jinghong, an existing executive Director, has been appointed as the Chief Executive Officer and Authorized Representative with effect from 14 May 2019. Ms. Qian, aged 47, the spouse of Mr. Dong Jinggui, is the co-founder of the Group, an executive Director and the vice chairman of the Board.

Ms. Qian has been a Director since 17 July 2014 and was re-designated as an executive Director on 19 January 2015. As a result of Mr. Liu's resignation as an executive Director, he also ceased to be a member of the remuneration committee of the Company with effect from 14 May 2019. As a result, with effect from 14 May 2019, the Remuneration Committee will comprise of Mr. Wu Biguang (chairman), Mr. Zhang Yiyin, Mr. Yao Naisheng and Mr. Wong Lung Ming.