The Board of directors (the Directors) of Ziyuanyuan Holdings Group Limited together with its subsidiaries (collectively the Group) announced that in order to devote more time and energy to other commitments, Mr. Li Zhensheng (Mr. Li) has tendered his resignation as an independent non-executive Director of the company with effect from 1 June 2020, and ceased to be the chairman of the remuneration committee, a member of each of the nomination committee and audit committee. Mr. Li has confirmed that he has no disagreement with the Board and there are no other matters in relation to his resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited (the Stock Exchange) or the shareholders of the company. The Board announced the appointment of Mr. Zhang Yong (Mr. Zhang) as an independent non-executive Director of the company with effect from 1 June 2020. Mr. Zhang has over five years of experience in investments and capital market management. Since March 2020, Mr. Zhang served as a president of Shenzhen Futian District Economic Promotion Association. From March 2017 to March 2020, Mr. Li worked for China Merchants Shekou Industrial Zone Holding Co., Ltd, a company listed on the Shenzhen Stock Exchange and his last position held was as research director. From March 2016 to March 2017, Mr. Zhang was the general manager of the planning division and served as the secretary to the chief executive within the communications and finance business department of Ping An Bank. From March 2014 to March 2016, Mr. Zhang worked at Shenzhen Futian District Economic Promotion Bureau and his last position held was as section chief. Mr. Zhang has entered into a service agreement with the company with effect from 1 June 2020 for a term of three years, he is subject to retirement by rotation in accordance with the articles of association of the company and the Rules Governing the Listing of Securities on the GEM of the Stock Exchange (the GEM Listing Rules). Pursuant to the Articles of Association, Mr. Zhang shall hold office only until the first general meeting of the company and shall then be eligible for re-election at such meeting.