China Financial Services Holdings Limited announced that due to the Incidents, on 16 October 2020, the Company gave notice to terminate the appointment of Mr. Luo Rui as an executive director of the Company and Madam Guan Xue Ling as an executive director of the Company. The director's service agreements made between the Company and each of the Relevant Directors with immediate effect pursuant to the terms of the director's service agreements. As at the time of issue of this announcement, Mr. Luo Rui and Madam Guan Xue Ling have not raised any disagreement with the Board and have raised no other matters that need to be brought to the attention of the shareholders of the Company.