Wins Finance Holdings Inc. announced that on December 22, 2020, Weiqi Chen resigned from his position as a member of the Board of Directors of Wins Finance Holdings Inc. and Xiaofeng Zhong resigned from his position as a member of the Board of Directors of the Company. On December 22, 2020, the company's Board of Directors appointed Zhongkuo Liu and Jianhua Huang as directors of the Company to fill the vacancies created by the resignations described above. Each of Mr. Liu and Mr. Huang will serve on each of the [Audit Committee, Nominating Committee and Compensation Committee] of the Board of Directors and Mr. Liu will serve as Chairman of the Audit Committee. On December 22, 2020, the Company's Board of Directors appointed Yuchan Cheng, current CFO, as Executive Director of the Company.