The board of directors of Guoan International Limited announced that Mr. WEI Wen Jun has been appointed as non- executive director of the Company, and Mr. LEE Kwok Leung and Mr. CHEUNG Ngai Lam have been appointed as independent non-executive directors of the Company, all with effect from 1 June 2020. Mr. WEI joined CITIC Guoan Group and joined the legal department in 2014. In 2017, he joined the legal and compliance department, mainly responsible for providing advice relating to commercial contracts and business arrangements and compliance with laws, rules, and regulations etc. Mr. LEE Kwok Leung has approximately 28 years of experience in asset management for professional and institutional investors. Mr. LEE has extensive experience in portfolio construction, portfolio management, risk assessment and investment due-diligence. Mr. CHEUNG is currently the Chief Financial Officer of China Zenix Auto International Limited (OTC: ZXAIY) and an independent non-executive director of Boyaa Interactive International Limited and New Provenance Everlasting Holdings Limited. The Board announced the following resignations with effect from 1 June 2020: Mr. LI Xiang Yu (Mr. LI) has resigned as non-executive director of the Company owing to the need to devote more time for his personal and other commitments; Mr. WONG Chun Man (Mr. WONG) has resigned as independent non- executive director of the Company owing to the need to devote more time for his personal and other commitments; and Mr. TSE Yung Hoi (Mr. TSE) has resigned as independent non-executive director of the Company owing to the need to devote more time for his personal and other commitments. With effect from 1 June 2020, the composition of the Board committees has been changed as follows: Mr. CHEUNG has been appointed as chairman of the Audit Committee, and Mr. WEI and Mr. LEE has been appointed as members of the Audit Committee. Mr. WONG has resigned as chairman of the Audit Committee, and Mr. LI and Mr. TSE have resigned as members of the Audit Committee. Mr. LEE and Mr. CHEUNG have been appointed as members of the Nomination Committee. Mr. WONG and Mr. TSE have resigned as members of the Nomination Committee. Mr. LEE has been appointed as chairman of the Remuneration Committee and Mr. CHEUNG has been appointed as members of the Remuneration Committee. Mr. TSE has resigned as chairman of the Remuneration Committee and Mr. WONG has resigned as member of the Remuneration Committee.