The Board of Directors of Jin Bao Bao Holdings Limited announced that Mr. Ling Zheng has been appointed as an Executive Director and the Chairman of the Board with effect from 27 September 2016. Mr. Ling, is the founder and chief executive officer of Dazhi Investment Group Company Limited. The Board announced that, with effect from 27 September 2016, Ms. Xie Yan has resigned as the Chairperson of the Board.