The board of directors of Central Wealth Group Holdings Limited announced that with effect from 1 October 2019, Mr. Chen Youchun ("Mr. Chen") has tendered his resignation as an independent non-executive director of the Company to pursue his other business commitments. Upon his resignation, Mr. Chen will cease to be a member of the Audit Committee, Remuneration Committee and Nomination Committee of the Company. Mr. Chen has confirmed that he has no disagreement with the Board and is not aware of any matters relating to his resignation that need to be brought to the attention of the shareholders of the Company. The Board announced that Mr. Liu Hongwei ("Mr. Liu ") has been appointed as an independent non-executive director, and a member of the Audit Committee, Remuneration Committee and Nomination Committee of the Company with effect from 1 October 2019. Mr. Liu, aged 49, holds a master degree in business administration and a bachelor degree in economics from Renmin University of China. Mr. Liu has more than 20 years of experience in finance and securities trading in China. Mr. Liu has served as the chairman of the board of Beijing Guoxin Rongji Holdings Co. Ltd.