Beijing Sports and Entertainment Industry Group Limited announced that with effect from November 7, 2018, Mr. Hu Yebi has been re-designated from an executive Director to a non-executive Director of the Company and has been appointed as the authorized representative of the Company. Mr. Hu Yebi has resigned as the member of the nomination committee and the remuneration committee of the Company; Mr. Niu Zhongjie has resigned as an executive Director, the authorized representative, and the member of the nomination committee and the remuneration committee of the Company; and Mr. Jan Wing Fu, Barry has been appointed as an executive Director of the Company. Mr. Hu was appointed as an executive Director with effect from 23 April 2015. Mr. Hu is the founder and chairman of Vision Finance Group Limited. Mr. Jan was appointed as the chief financial officer, the company secretary and an authorized representative of the Company with effect from 15 June 2016. Mr. Jan is also appointed as the company secretary of nine of the wholly-owned subsidiaries of the Group which are all incorporated in Hong Kong.