Yintech Investment Holdings Limited announced that its board of directors approved the appointment of Mr. Yonghong Fan as an independent director of the Company, effective immediately. The Board reviewed the independence of Mr. Fan and determined that he satisfies the independence requirements of the Nasdaq Stock Market Rules. The Board also appointed Mr. Fan as a member of the audit committee. Mr. Fan is currently the Co-Chairman of Xiangshan Wealth Institution, a non-profit think tank focused on wealth management research. Mr. Fan has over 30 years of experience in the finance and investment industries, including managerial positions in commercial banks, securities firms and fund management.