Effective June 16, 2020, Xinghai Li resigned as a member of the Board of Directors of Lithium & Boron Technology, Inc. His resignation was not because of any disagreement with the Company on matters relating to its operations, policies or practices. On June 17, 2020, the Board appointed Mr. Ming Wei as a Director of the Company. Mr. Wei replaces Mr. Li as a member of the Board. Mr. Wei has served as Senior Engineer at Qing Hai Salt Lake Research Institute of Chinese Academy of Sciences for the past 5 years and began his career there in 1990. Mr. Wei is currently serving without compensation or pursuant to a written agreement. The Company will disclose any compensatory arrangements entered into in the future.