The board of directors of Tu Yi Holding Company Limited announced that, pursuant to Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, Mr. An Jiajin, an executive Director was appointed as one of the authorized representatives of the Company with effect from 2 July 2020 and Ms. Qiu Xiang resigned as one of the authorized representatives of the Company with effect from 2 July 2020. Ms. Qiu has confirmed that she has no disagreement with the Board and there was no matter that needs to be brought to the attention of the Stock Exchange or the shareholders of the Company in relation to her resignation.