Yongsheng Advanced Materials Company Limited announced that Mr. Shiping James Wang ("Mr. Wang") has resigned as an independent non-executive Director, a member of each of the audit committee of the Company (the "Audit Committee") and the nomination Committee of the Company (the "Nomination Committee") with effect from 1 April 2021 to pursue his personal endeavours. The Board announces that Mr. He Chengying ("Mr. He") is appointed as an independent non-executive Director, and a member of each of the Audit Committee and Nomination Committee in replacement of Mr. Wang with effect from 1 April 2021. Mr. He is currently the dean of the Business School of Guangxi University and the executive head of the Institute of ChinaASEAN Open-door Finance. He is a professor, senior economist and a special research fellow of the China Management Science Research Institute and Researcher (Professor) of Zhejiang University of Finance and Economy.