The board of directors of IBO Technology Company Limited announced that Ms. Cheng Yan has been appointed as an executive Director and the vice chairperson of the Company with effect from 7 August 2019. Ms. Cheng, aged 55, has been involved in financial investments for over 20 years. She has been a senior advisor to China Shandong Hi-Speed Financial Group Limited (formerly known as China Innovative Finance Group Limited) (stock code: 412) since October 2017, and served as an executive director and the chief executive of the aforesaid company from December 2016 to September 2017. Ms. Cheng is currently a representative from Hong Kong and Macau of the Beijing Municipal Committee of the Chinese People's Political Consultative Conference, a standing committee member of the Beijing Overseas Association, the director of the Chinese Financial Association of Hong Kong, the vice chairman of the China-Hong Kong Economic and Trading International Association, and the deputy director of the Committee of Economics of the China Democratic League Central Committee.