The board of directors of Grandshores Technology Group Limited announced that Mr. Li Xiaolai has been appointed as an executive Director and the co-chief executive officer of the Company with effect from 3 December 2018. Mr. Li is an experience investor in numerous blockchain companies and is one of the founders of Grand Shores Global Blockchain Ten-Billion Innovation Fund. Mr. Li will be mainly responsible for various projects in which the Company has participated, including establishment of stable digital currency system (focusing on mainstream international currencies), establishment of public database based on DAG (Directed Acyclic Graph) and TEE (Trusted Execution Environment) technologies and other projects relating to blockchain technology applications.