The board of directors of Zall Smart Commerce Group Ltd. announced that Mr. Peng Chi has resigned as an executive director of the company with effect from 6 July 2018 in order to pursue his other business commitments. Upon his resignation, Mr. Peng also ceases to be a member of the remuneration committee of the Board. The Board announced that Mr. Qi Zhiping has been appointed as an executive director and co-chief executive officer of the company with effect from 6 July 2018. Mr. Qi has also
been appointed as a member of the remuneration committee of the Board. Mr. Qi Zhiping joined Group in June 2017 when Group completed the acquisition of 50.6% interest in Shenzhen Sinoagri E-commerce Co. Ltd. where Mr. Qi was then and, after the acquisition, has remained as the vice chairman of Shenzhen Sinoagri. Mr. Qi is also a co-president of the Group and is primarily responsible for the integrated management of the online platform of the Group and the collaboration of various platforms, the overall strategic planning and management capacity enhancement of Shenzhen Sinoagri, planning for investment and development strategy of the Group, designing commercial models and engaging in investment projects decision and management of the Group. Mr. Qi is one of the founding team members of Shenzhen Sinoagri and has extensive experience in the operation and management of retail chain, securities investment and E-commerce and in corporate governance, strategic planning and global deployment. In connection with the appointment of Mr. Qi as the co-chief executive officer of the company, Mr. Yan Zhi, who was an executive director and the chief executive officer of the company, has been redesignated as an executive director and a co-chief executive officer of the company.