The board of directors of Kwan On Holdings Limited announced the following changes in senior management of the company with effect from January 15, 2020: Mr. Tao has left from the position of the Chief Executive Officer of the company owing to the development needs of the company; and Mr. Zhang has been appointed as the Chief Executive Officer of the company and remains as an Executive Director of the company with his original roles in the Board remains unchanged. Mr. Zhang was appointed as an Executive Director of the company on 1 June 2017. Mr. Zhang is a senior engineer and a contractor. Mr. Zhang is the assistant to the president and the general manager of overseas companies of the Jiangsu Provincial Construction Group. Mr. Zhang has been awarded the titles of China Jiangsu Overseas Outstanding Project Manager, Review Expert of the Ministry of Commerce of the People's Republic of China Foreign Assistance Projects and Internationalisation Expert of Jiangsu Enterprises.