The board of Directors of Fufeng Group Limited announced that with effect from June 1, 2020, Mr. Zhao Qiang has tendered his resignation as chief executive officer of the Company due to his intention to devote more time to his personal and other commitments. The board announced that, Mr. Li Deheng, an executive Director, has been appointed as the Chief Executive Officer in replacement of Mr. Zhao. Mr. Li has over 19 years of experience in manufacturing operation and business management. Before his appointment as the Chief Executive Officer, Mr. Li was an executive Director and a deputy executive general manager of the Group who is responsible for the general operation of production, supply chain and logistics system of the Group. In his role as the Chief Executive Officer, Mr. Li would be responsible for the Group's operation management and business strategy, implementing decisions and plans approved by the Board, making day to-day operational and management decision and coordinating overall business operations.