Code Chain New Continent Ltd appointed Mr. Tingjun Yang as new CEO

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On September 7, 2021, Mr. Yimin Jin tendered his resignation as Co-Chief Executive Officer of Code Chain New Continent Limited (the "Company"), effective September 7, 2021. Mr. Jin's resignation was not a result of any disagreement with the Company's operations, policies or procedures.


On September 7, 2021, approved by the Board of Directors and the Compensation Committee, Mr. Tingjun Yang was appointed as the Co-Chief Executive Officer of the Company, effective September 7, 2021.


The biographical information of Mr. Yang is set forth below:


Mr. Tingjun Yang, age 39, was the CTO of Phantec BigData Technology, a leading company in big data technology in China, from 2014 to 2017, during which time Mr. Tingjun Yang led his team to independently develop a system of high-performance computing cluster based on GPU parallel processing and the finite element method. Mr. Yang has over 15 years of experience in the design and development in artificial intelligence and big data industry and are knowledgeable in blockchain technology and cloud computing. Mr. Yang specializes in the application of blockchain technology to various sectors. He developed and successfully launched a blockchain-based big data risk control platform for supply chain finance, a blockchain-based corporate financial settlement system, and a blockchain-based Internet of Vehicles platform for freight. Mr. Yang holds a doctor's degree and a bachelor's degree from Zhejiang University in Computer Science and Technology in China. 


Mr. Yang does not have a family relationship with any director or executive officer of the Company. He was involved in any transaction with the Company during the past two years that would require disclosure under Item 404(a) of Regulation S-K.


Mr. Yang entered into an employment agreement with the Company and agreed to receive an annual compensation of $50,000, effective September 7, 2021. The employment agreement is qualified in its entirety by reference to the complete text of the agreement, which is filed hereto as Exhibits 10.1.