The board of directors of Silk Road Logistics Holdings Limited announced that Mr. Ding Zhiyi has resigned from the positions of executive Director, the chairman of the Board and the chief executive officer of the Company, and ceased to be the chairman of the nomination committee and the executive committee of the Company with effect from 25 January 2019, as Mr. Ding intends to devote more time for other business development. Mr. Cai Jianjun was re-designated as an executive Director, the chairman of the Board and the chairman of the Executive Committee; Ms. Zhang Rui was appointed as an executive Director and a member of the Executive Committee; Mr. Chan, Victor Sun Ho was appointed as a non-executive Director; Mr. Zou Mingwu was appointed as independent non-executive Director; and Mr. Liu Wei was appointed the chairman of the Nomination Committee. Mr. Cai is currently the managing director of Wulanchabu Integrated Logistics Park Company Limited.

Before joining Wulanchabu, Mr. Cai was the chief executive of Titan Petrochemicals Group Limited for the year 2012, he was a president of Pan American Union Oil & Gas Inc. from 2006 to 2011 and had actively participated in several large-scale petrochemical projects in China, he was the general manager of Beijing China Post Heng Ren Investment Company Limited from 2004 to 2006 and was mainly responsible for restructuring and assessing non-core assets of China Post. Ms. Zhang was engaged in the duties relating to risk management in Ping An Bank Shenzhen Branch and China Resources SZITIC Trust Co. Ltd. successively, with over ten years of work experience in the finance industry.

She joined China Huarong International Holdings Limited ("Huarong International") in 2015 as a manager, assistant to general manager and deputy general manager of post-investment management department of Huarong International. Mr. Chan joined Huarong International in 2017 and is currently the acting head of legal department of Huarong International. Before joining Huarong International, he worked in BOC Aviation Limited as the company secretary, two international law firms headquartered in London and a Hong Kong based airline.

He also worked as the company secretary and legal counsel in CBA International Financial Services Limited. Mr. Zou has been a senior vice president and president of China region of Baoneng Group in Shenzhen, as well as the chairman of Baoneng City Development and Construction Company Limited in Shenzhen. From 1994 to 2007, he served as the general manager.

Further, the Company will enter into a service agreement with Dr. Fang Gang ("Dr. Fang"), pursuant to which, Dr. Fang will be appointed as the chief executive officer of the Company, subject to the Immigration Department of the Hong Kong Special Administrative Region issuing an employment visa (the "Employment Visa") to Dr. Fang. Dr. Fang served as the country manager in China for Advanced Ceramic and Modules of Dutch Royal Philips Components, served as the country manager in customer services in China for a Dutch company ASML in semi-conductor industry. He was appointed as the country manager in China for a German company Dussmann Property Management Company.

Dr. Fang also served as the chief executives in public companies. He was the chairman and general manager of Oriental Energy Co. Ltd. in China in LPG international trading and sales business, the President of Tianfa Petroleum Co.

Ltd. in China in downstream oil and gas business. He served as the chairman and the chief executive officer for the period from April 2011 to June 2016 for a Canadian public company, Anterra Energy Inc. in upstream and midstream oil and gas business.