The board of directors of Inno-Tech Holdings Limited announced that Mr. Zhang Ronggang has been redesigned as executive director of the Company and has resigned the job as the non-executive director with effect from 21 February 2020. Mr. Zhang has been appointed as non-executive director since 20 January 2020. Mr. Zhang, aged 58, graduated from the Hubei Institute of Education (PRC) with a degree of English Literature in 1987. After graduation, he had over 12 years of experience as lecturer at Shanghai International Studies University. Thereafter, he had over 15 years of experience as Section Chief, in Ningbo Free Trade Zone Investment Cooperation Bureau, and Chief of Commerce Bureau, Hangzhou Economic and Technological Development Zone. Since 2015, he has been working as strategic development consultant of Shanghai Rongfu Law Firm; CEO of Wuyi International Asset Management Co. Ltd., outside master tutor of Zhejiang University of Technology and Visiting Professor of Zhejiang Development and Reform Commission Training Center. Mr. Zhang has entered into a letter of appointment with the Company as an executive director for a fixed term of two years commencing from 21 February 2020, subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the bye-laws of the Company.