Jupai Holdings Limited announced that Dr. Weishi Yao, the chief operating officer of the company, has resigned from the company for personal reason, effective on December 30, 2016. Dr. Yao will remain as a member of Jupai’s board of directors, and his responsibilities as Jupai’s chief operating officer will be taken over by Mr. Jianda Ni, co-chairman of the board of directors and chief executive officer, Mr. Tianxiang Hu, co-chairman and executive chairman of the board of directors, and other senior management of the company.