The board of directors of Silk Road Logistics Holdings Limited (the "Company") announced that Mr. Wang Xiusong ("Mr. Wang") has resigned as an executive Director and ceased to be a member of each of the nomination committee (the "Nomination Committee") and the executive committee (the "Executive Committee") of the Company with effect from 13 May 2020 as Mr. Wang wishes to pursue other business development. The Board announced that Ms. Wong Kai Ling ("Ms. Wong") has been appointed as an executive Director, a member of each of the Nomination Committee and the Executive Committee with effect from 13 May 2020. Ms. Wong, aged 27, will be responsible for the business development of the Group. Ms. Wong served as the vice president of investment banking division of China Huarong International Holdings Limited and was responsible for project analysis and investment. She has participated in the investment and subsequent management of natural gas, oil and gas, clean energy and coal projects as well as property and logistics investment projects. Having extensive investment experiences in energy sector, she has played an important role in investment cooperation with the world's top 500 enterprises. Ms. Wong was re-designated from China Huarong International Holdings Limited to China Huarong Overseas Investment Holdings Co., Limited ("Huarong Overseas") in 2019. She is currently the vice president of asset management division of Huarong Overseas and is responsible for asset management. The Board further announced that Mr. Wang ceased to be an authorized representative of the Company and Ms. Wong has been appointed as an authorized representative of the Company with effect from 13 May 2020.