The board of directors of China Trustful Group Limited and its subsidiaries announced that Mr. Luo Huangshi has been appointed as executive Director of the Company with effect from 2 December 2020. Mr. Luo Huangshi, aged 49, obtained an Advanced Diploma in Finance from the International association of accounting professionals. He is the founder and chairman of Guangdong Beidou Tianyun Technology Co. Ltd. Prior to that, Mr. Luo has been engaged in the knitting and embroidery industry in China for over 13 years. Mr. Luo has entered into service contract with the Company for a term of 1 year from 2 December 2020 to 1 December 2021 (both dates inclusive), his term is subject to retirement and re-election as the Director according to the Bye-laws of the Company and the Rules Governing the Listing of Securities on the GEM of the Stock Exchange. Pursuant to his service contract, Mr. Luo is entitled to receive annual director's salary of HKD 360,000 per year.