The board of directors of China Trustful Group Limited and its subsidiaries announced that Mr. Fei Jie (Mr. Fei) has resigned as an executive director (ED), the chairman of the Board and the authorised representative of the Company and all positions holding in the Group all with effect from 8 December 2020 due to his desire to devote more time to his other business engagements (the Resignations). Mr. Fei has confirmed to the Board that he has no disagreement with the Board and that there is no other matter in relation to the Resignations that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited or the shareholders of the Company.