CNFinance Holdings Limited announced the appointment of Dr. Xi Wang as an independent director, effective March 12, 2019. Dr. Wang will serve as a member of the Audit Committee and the Nominating and Corporate Governance Committee of the Board of Directors. Dr. Wang currently serves as a professor at Lingnan College, and a director of China Institute for Economic Transformation and Opening at Sun Yat-sen University. Dr. Wangwill replace Mr. Linbin Zhou, who has served as an independent director on the Board and as a member of the Audit Committee and the Nominating and Corporate Governance Committee since November 2018. Mr. Zhou resigned from such positions concurrently with Dr. Wang's appointment due to personal reasons.