Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers





Resignation of Director

On July 23, 2021, Mr. Zhiguo Wang resigned as a Director and Chief Executive Officer, President and Chief Financial Officer, of the Company, due to personal reasons. The Company thanks Mr. Wang for all of years of excellent service to the Company and wishes him the best in his future endeavors. There were no adverse reasons for Mr. Wangs resignation.

While the Company considers possible replacements, the positions of Chief Executive Officer, President, Chief Financial Officer and Chairman of the Board will be filled by Ms. Guifang Qi. Ms. Qi has been as officer and director of the Company since its inception for 10 years ago. She is the wife of Mr. Wang, and she is a principal shareholder of the Company.

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