Dragon Victory International Limited announced that Mr. Limin Liu (“Mr.Liu”) had taken over the roles as Chairman of the Board and CEO of the Company, effective August 21,2019, succeeding Mr. Jianjun Sun (“Mr. Sun”). Mr. Sun resigned for personal reasons and not due to any disagreements with the Company. On August 20, 2019, the Board received the resignation of Mr. Hongyu Zhang as a director of Company, effective immediately.

Mr. Zhang resigned for personal reasons and not due to any disagreements with the Company. Mr. Wei Wang (“Mr. Wang”) was appointed to fill the vacancy and serve as a director of the Company, effective August 21, 2019. Mr. Liu has extensive experience in many industries, including investing, financing, and innovative high technology sectors.

From July 2014 to June 2019, Mr. Liu served as the Global Lead of Financial Service Industry of Huawei Technologies Co. Ltd.