Jupai Holdings Limited announced changes to the senior management team and board of directors of the company: Dr. Weishi Yao has resigned as a director due to personal reasons, effective immediately. Mr. Liqun Wang has resigned as a director and a member of the audit committee of the Board due to personal reasons, effective immediately. Mr. Hongchao Zhu, who is currently an independent director of the Company, has been appointed as a member of the audit committee of the Board to replace Mr. Wang, effective immediately.

Mr. Tianxiang Hu has been appointed as Co-Chairman of the Board and Chief Executive Officer of the company, effective immediately. Upon assuming his new role, Mr. Hu no longer serves as Executive Chairman of the Board. Mr. Jianda Ni has been appointed as Co-Chairman and Executive Chairman of the Board, effective immediately.

Upon assuming his new role, Mr. Ni no longer serves as the Chief Executive Officer of the company. Mr. Liang Li has been appointed as Chief Operating Officer of the company, effective immediately, and will no longer serve as President of the Company.