The board of directors of Zhejiang United Investment Holdings Group Limited announced that Mr. Zheng Xuchen has tendered his resignation as independent non-executive director, member of each of audit committee, remuneration committee, nomination committee and legal compliance committee of the Company with effect from 19 November 2019 due to his desire to devote more time to other businesses. The Board announced that Ms. Lai Pik Chi Peggy has been appointed as independent non-executive director, member of each of audit committee, remuneration committee, nomination committee and legal compliance committee of the company with effect from 19 November 2019. Ms. Lai has over 20 years of auditing, accounting and financial management experience. She obtained a master degree of business administration from the University of Manchester in the United Kingdom in June 2010. She is a fellow member of the Association of Chartered Certified Accountants and an associate member of the Hong Kong Institute of Certified Public Accountants. Ms. Lai served as an executive director from October 2008 to May 2011, and the chairman of the board from January 2009 to May 2011 of Nine Express Limited (formerly known as Cheung Wo International Holdings Limited, China Mandarin Holdings Limited and Mandarin Entertainment (Holdings) Limited).