Global Token Limited announced that Mr. Chen Biao has been appointed as an executive director of the board, with effect from November 12, 2020. Mr. Chen, aged 52, graduated from the Department of Mechanical Engineering of Information Engineering Universityin June 1990. He has extensive experience in business development and management in China and Europe. He was acting as the business consultant for China Machinery Industry International Cooperation Co., Limited on acquisition and mergers projects in Europe since 2014. From December 2019, he was appointed as the Deputy General Manager of Yuxin Asset Management Company Limited, which is an indirect non-wholly-owned subsidiary of Yuxing InfoTech Investment Holdings Limited (stock code: 8005). Mr. Chen joined the Group in April 2020 as the position of a director of Zhongda Bocheng Energy Technology (Shenzhen) Limited, which is an indirect wholly-owned subsidiary of the Company, and responsible for overseeing the business development to the internet data centre industry. He will be appointed as the chief operating officer of the Company, subject to the issuing of employment visa from the Immigration Department of The Hong Kong Special Administrative Region. Mr. Chen is currently also a director of a number of other subsidiaries of the Company. Mr. Chen has not been appointed for a specific term. He will hold office until the next annual general meeting of the Company and will be subject to retirement by rotation and re-election in accordance with the bye-laws of the Company. The remuneration package of Mr. Chen will be determined by the Board with reference to their duty, responsibility and experience, and to prevailing market conditions, and is subject to annual review of the remuneration committee of the Board.