The board of directors of China Parenting Network Holdings Limited (the ‘Company’, together with its subsidiaries, the ‘Group’) announced that Mr. Hsieh Kun Tse (‘Mr. Hsieh’) has resigned as a non-executive Director with effect from July 31, 2020 to better focus on his other business engagements. The board announced that Mr. Zhang Haihua (‘Mr. Zhang’) has been appointed as a non-executive Director with effect from July 31, 2020. Zhang Haihua, has been serving as a non-executive director of Beijing Taikong Works Culture Development Co. Ltd. since May 2020. He has been acting as a partner and the general manager of Shanghai AMVC Culture Investment Management Center since January 2020. The board announced that Ms. Li Juan (‘Ms. Li’) has resigned as chairperson of the Board and the chairperson of the nomination committee of the Company, but remains as the non-executive Director of the Company and the member of the audit committee due to work rearrangements, with effect from July 31, 2020. The board announced that Mr. Zhang Lake Mozi has been appointed as chairperson of the Board and the chairperson of nomination committee of the Company, and will continue to act as executive Director, company secretary, chief financial officer and authorized representative of the Company with effect from July 31, 2020. Mr. Zhang Lake Mozi was appointed as an executive Director and served as the chief financial officer and authorized representative of the Company on 11 February 2015. Mr. Zhang Lake Mozi is currently the co-founder and director of Kingdom Music Education Group Limited since 2017. Mr. Zhang Lake Mozi is currently the co-founder and director of CHINA MA Investment Limited since August 2012.