Tu Yi Holding Company Limited announced that with effect from 30 November 2020. The board of directors announced that Mr. Gu Jiong has resigned as an independent non-executive Director and the chairman of the audit committee of the Company due to his intention to pursue other business opportunities and Mr. Ying Luming has been appointed as an independent non-executive Director and the chairman of the audit committee of the Company. Mr. Ying has over 25 years of experience in accounting and corporate management. Mr. Ying had served as an audit staff of the Audit Bureau of Yuhang City in the PRC from 1994 to 1999 and as an audit engagement manager of Hangzhou Yongxin Certified Public Accountants Co. Ltd. from 1999 to 2003.