Weidai Ltd. announced that Mr. Leo Li will resign as chief financial officer for personal reasons, effective immediately. The company notes that Mr. Li’s departure is not based on any disagreement with the company’s accounting principles, practices or financial statement disclosures. Mr. Feng Chen, an executive director of the company, will be appointed to serve as chief financial officer of the Company, effective immediately. Mr. Chen joined Weidai in 2015 and has extensive experience in accounting and finance. His previous work experiences include Greentown E-commerce, Fullerton Investment & Credit Guarantee Co. Ltd., Tianjin Rural Commercial Bank Co. Ltd., Deloitte Consulting LLP, SAS Institute Inc., BearingPoint and Ernst & Young LLP. Mr. Chen is a certified public accountant in China and Australia. Mr. Chen will no longer serve on the audit committee of the Company’s board of directors. Effective immediately, the Audit Committee will consist of two independent directors, Mr. Poi Lam William Yuen and Prof. Tony Cai.