NF Energy Saving Corporation reported that Mr. Yongquan Bi, an existing director and a substantial stockholder of the company, together with a group of additional investors whose holdings together constitute a majority of the company’s voting rights, delivered a written consent to the company’s registered office in a process which is consistent with the company’s governing documents. According to the Written Consent, three members of the company’s Board of Directors (i.e., Lihua Wang, Jianxin Wang and Zhuting Liu) will end their service, and a new director, Mr. Ju Li, will be appointed to the Board, so that the reconstituted Board will consist of seven directors (instead of nine). Yongquan Bi, Current Director to be appointed as the new Chairman. Yongquan Bi has been nominated by the Nominating Committee to serve on the company’s Board of Directors until the 2019 Annual Meeting of the company. Mr. Bi is currently the Chairman of the Board of Boqi Group. Mr. Ju Li has rich and extensive financial investment and enterprise management experience. Mr. Li previously worked at Amtex GmbH and at Mercatura Cosmetics Biotech Tech AG.