The board of directors of Orient Victory Travel Group Company Limited announced that Mr. Mo Yueming has been appointed as an executive Director of the company with effect from 2 May 2018. Mr. Mo has over 20 years of experience in accounting and corporate management of the tourism industry and other industries, including working as the vice general manager and Chief Accountant of China Pan Travel Industry Development Co. Ltd. and Mr. Mo has been a director of China Spacesat since June 2001; Mr. Mo has been a director of Zhejiang Yongfeng Environmental Sci&tech Co. Ltd. since 23 February 2016 for a term from 23 February 2016 to 22 February 2019; and the senior vice president of Orient Landscape Holdings Co. Ltd. and the Chief Operating Officer of Orient Brigade Group from 28 April 2017 to 27 November 2017. Mr. Mo currently serves as a co-vice Chairman of Orient Victory Group and president of Orient Victory Culture & Travel Group. The Board announced that Mr. Wang Jianhua has resigned as an executive Director on 2 May 2018 since he wishes to spend more time with his family. Mr. Wang confirms that there is no disagreement between himself and the Board and that there are no matters that need to be brought to the attention of the shareholders of the Company in relation to his resignation.