The board of directors of China Baoli Technologies Holdings Limited announced that Mr. Chan Chi Yuen ("Mr. Chan") has resigned as an independent non-executive Director and will cease to be the chairman of the remuneration committee (the "Remuneration Committee") and a member of the audit committee (the "Audit Committee") and nomination committee of the Company with effect from 18 September 2019 in order to devote more time to his other business engagements. Mr. Chan has confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company. The Board hereby also announced that Mr. Chan Fong Kong, Francis, an independent non-executive Director, has been appointed as the chairman of the Remuneration Committee with effect from 18 September 2019.