Fuwei Films (Holdings) Co., Ltd. announced that Mr. Gangjiang Li, the founder of BaiJiaYun, has been appointed the chairman of the Board, the Company's chief executive officer, and the chairperson of the compensation committee of the Board. Mr. Yi Ma, previously a director of BaiJiaYun, has been appointed a director and the president of the Company and the chairperson of the nominating and corporate governance committee of the Board. Mr. Chun Liu has been appointed an independent director of the Company, a member of the audit committee of the Company and a member of the compensation committee of the Board.

Mr. Erlu Lin has been appointed an independent director of the Company, the chairperson of the audit committee of the Board and a member of the nominating and corporate governance committee of the Board. Mr. Lei Yan, previously the chief executive officer and chairman of the Board of Fuwei Films, has been appointed a director of the Company. Ms. Jingjing Cheng, previously the chief financial officer and a director of Fuwei Films, Mr. Tee Chuang Khoo, Mr. Junying Liu, and Mr. Lihang Geng, each previously an independent director of Fuwei Films, have all resigned from their respective roles.