The board of directors of Beijing North Star Company Limited announced that, the Board elected and resolved to appoint Mr. LI Wei-Dong as the chairman of the eighth session of the Board of the Company, the chairman of the strategic committee and the chairman of the nomination committee under the Board. The term of office starts from 20 August 2020 until the expiry date of the eighth session of the Board. Meanwhile, Mr. LI Wei-Dong ceased to hold his position as the general manager of the Company. The Company will complete the appointment of the general manager pursuant to the legal procedures as soon as possible. Mr. LI Wei-Dong, aged 52, is the chairman of the Company. He is an engineer. Mr. LI served as the mechanical workshop director, deputy manager and manager of Beijing Yanshan Cement Factory, the chief of the real estate division and the assistant to the general manager of BBMG Group Company Limited and the manager of Tengda Plaza, the manager of BBMG Property Management Co. Ltd., the chairman of Beijing Dacheng Property Development Co. Ltd., the deputy general manager and the executive director of BBMG Corporation. He joined in the Company in 2016 and served as an executive director and the general manager of the Company, and was re-elected and re-appointed as the executive director and the general manager of the Company in May 2018. Mr. LI also holds directorships and/or relevant positions in certain subsidiaries of the Company. Mr. LI ceased to hold his position as the general manager of the Company with effect from 20 August 2020. Mr. LI possesses extensive experience in real estate development and property management.