The board of directors of Ruixin International Holdings Limited announced that Ms. Li Yang (Ms. Li) has been appointed as an executive Director and the chairman (the Chairman) of the Board with effect from 22 January 2020. Ms. Li worked as a paralegal at a large law firm in the People's Republic of China from November 2017 to May 2019. She was also the chairman of Phoenix Asia Pacific Investment Company Limited, an indirect wholly-owned subsidiary of the Company in Vietnam, from June 2018 to August 2019 and has been a director of Ruixin Universal Limited, an indirect wholly-owned subsidiary of the Company in Hong Kong, since June 2019.