The Board of directors of Yunfeng Financial Group Limited announced that with effect from 8 October 2020: Mr. Zhang Ke (Mr. Zhang) has been appointed as executive director, vice chairman and authorised representative of the company; Ms. Hai Olivia Ou has ceased to be the authorised representative of the company. Ms. Hai Olivia Ou confirmed that she has no disagreement with the Board and there is no other matter relating to her resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited and the holders of the securities of the company. Mr. Zhang is a partner of Yunfeng Capital. He was the chief strategy consultant of China Taiping Insurance Group Limited, vice chairman of Taiping Life Insurance Limited (Taiping Life), chairman of Taiping Poly Investment Management Co. Ltd., director of Shanghai Rural Commercial Bank Co. Ltd., the secretary of the party committee, director and general manager of Taiping Life, general manager of Taiping General Insurance Co. Ltd. Mr. Zhang is the vice-president of the Insurance Association of China, chairman of China Insurance Marketing Elite Alliance Council, global international director of LIMRA-LOMA, a full member of Geneva Association, part-time visiting professor of Sichuan University.