AnPac Bio-Medical Science Co., Ltd. announced changes to its board composition and management team. Mr. Haohan Xu has been appointed as a director of the board of directors, and Co-Chairperson of the Board of the Company. Mr. Xu is the Chief Executive Officer of Apifiny Group Inc., a digital asset trading infrastructure provider based in New York, United States and has been actively engaged in the fintech industry with past directorship and senior executive positions held at fintech companies including Mercurity Fintech Holding Inc. Ms. Xiaoyu Li has been appointed as a director of the Board of the Company.

Ms. Li has extensive experience in investor relations and investment. From May 2018 to August 2021, Ms. Li served as a director of Mercurity Fintech Holding Inc., where Ms. Li previously worked at the investor relations department from 2012 to 2013. Mr. Tianruo (Robert) Pu has been appointed as a director of the Board, chairperson of the audit committee and member of the compensation committee as well as nominating and corporate governance committee.

Mr. Pu currently serves as an independent director of Autohome Inc., One Connect Financial Technology and 3SBio Inc. Mr. Zhigang (Frank) Zhao has been appointed as a director of the Board, chairperson of the compensation committee and member of the audit committee as well as nominating and corporate governance committee. Mr. Zhao has over two decades of experience in financial and accounting management with auditing firms and public companies. Mr. Honggang (Harvey) Tian has been appointed as a director of the Board, chairperson of the nominating and corporate governance committee and member of the audit committee as well as compensation committee.

Mr. Tian is an experienced investment professional, with particular focus in Internet and high-tech industries. In relation to the above appointments, each of Mr. Chris Chang Yu, Jinqiu Tang, Xing Pu, Ren Luo, Jianhua Shao and Guo Feng will resign as a director and/or officer of the Company. These changes are expected to become effective in early October after the completion of customary onboarding processes, including required filings with The Registry of Corporate Affairs in the British Virgin Islands.

Under the new structure, Dr. Chris Chang Yu will continue to manage Company's cancer screening technology development and grow its business.