Applied Development Holdings Limited announced that with effect from 21 August 2019, Mr. Yao Wei Rong has been re-designated from an executive Director to a non-executive Director and he has also resigned as the chairman of the Board, a member of the remuneration committee of the Company and the chairman of the nomination committee of the Company. The Board also announced that, with effect from 21 August 2019, Mr. Wu Zhanming has been appointed as the chairman of the Board, an executive Director and the chairman of Nomination Committee; and Mr. Wu Tao has been appointed as a non-executive Director. The Board also announced that with effect from 21 August 2019, Mr. Yao ceased to be the chairman of the Board of the Company and Mr. Wu Zhanming has been appointed as the chairman of the Board; Mr. Yao has ceased to be a member of the Remuneration Committee and Mr. Yu Tat Chi, Michael has been appointed as a member of the Remuneration Committee; and Mr. Yao has ceased to be the chairman of the Nomination Committee and Mr. Wu Zhanming has been appointed as the chairman of the Nomination Committee. The Board also announces that, with effect from 21 August 2019, Mr. Guo has resigned as a non- executive Director as he desires to devote more time to his personal affairs and other business commitments.