The Board of directors of KuangChi Science Limited announced that Dr. Zhang Yangyang has resigned as co-chief executive officer of the company with effect from 23 May 2019, due to devoting more time to his other personal engagement. Dr. Zhang will continue to act as an executive Director and member of remuneration committee of the company. Upon Dr. Zhang's resignation of co-chief executive officer, the other co-chief executive officer of the company, Dr. Luan Lin, will become the chief executive officer of the company and will oversee the entire operations of the Group. Dr. Luan Lin's other titles and positions will remain unchanged.