The board of directors of Mayer Holdings Limited announced that Mr. Deng Shimin tendered his resignation as an independent non-executive Director, the member of each of the audit committee and nomination committee and chairman of remuneration committee of the Company with effect from 21 January 2020 ("Effective Date"). In the letter of resignation from Mr. Deng stated that his decision to resign from the company is because he wishes to devote more time to his personal business. The Board further announced that Mr. Cheng Yuk Ping ("Mr. Cheng") has been appointed as the independent non-executive Director, the member of each of the audit committee and nomination committee and chairman of remuneration committee of the company, all with effect from the Effective Date. Mr. Cheng Yuk Ping ("Mr. Cheng"), also known as Zheng Xu, has actively engaged in trading businesses and public services for years. Since 1985, he has taken up senior management positions in several trading companies and manufacturing enterprises, and has vast experience in the management of business operation. He has been a member of five consecutive sessions of a provincial committee of the Chinese People's Political Consultative Conference for 25 years since 1993 and subsequently a member of the National Committee of the Chinese People's Political Consultative Conference. He has extensive social and public relation networks.