Tou Rong Chang Fu Group Limited announced that after careful discussions, in view of the aforementioned and in order to alleviate any concerns that the management, the shareholders or the potential investors of the company may have as regards the discharge of duties of Mr. Li Zhenjun under the Listing Rules, the Board considered it prudent and appropriate given the current circumstances to resolve to remove Mr. Li from the office of the chairman of the Board and a member of the nomination committee with effect from 9 August 2018 and suspend the duties of Mr. Li as a director of the company with effect from 9 August 2018.