The board of directors of Greater China Financial Holdings Limited announced that, with effect from 8 June 2018, Mr. Yang Dayong has been appointed as an executive Director and the chief executive officer of the Company. Mr. Liu Kequan has ceased to act as the CEO and remains as the chairman of the Board and will continue to serve as an executive Director. Yang Dayong has more than twenty years experience in the field of fintech investment, risk management and merger and acquisition.

Mr. Yang has been a director of two subsidiaries of the Company before his appointment to the Board. Mr. Liu will continue to serve as the chairman of the Board and an executive Director to lead the Board and the executive team of the Group to formulate and implement strategic decisions for the development of the Group.