The board of directors of Dali Foods Group Company Limited announced that Mr. Tu Zhiqian has tendered his resignation as a joint company secretary of the Company with effect from 18 March 2018, and Ms. Chen Ying has been appointed as a joint company secretary of the Company with effect from 18 March 2018. Ms. Chen, aged 32, joined the Group in 2016 as the legal counsel of the Group, responsible for legal and compliance matters of the Group. Prior to joining the Group, Ms. Chen was a lawyer at Shanghai Llinks Law Offices from 2011 to 2016. However, Ms. Chen does not satisfy the specified qualification required by Note 1 to Rule 3.28 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the relevant experience as set out in paragraphs (a) to (c) in Note 2 to Rule 3.28 of the Listing Rules. By reasons of the above, the Company has applied for and has been granted by The Stock Exchange of Hong Kong Limited a waiver from strict compliance with the requirements as set out in Rules 3.28 and 8.17 of the Listing Rules for a 3-year period from the date of appointment of Ms. Chen as a joint company secretary of the Company, subject to the following conditions: (i) Ms. Chen will be assisted by Ms. Cheng during the Waiver Period; (ii) the Company must notify the Stock Exchange at the end of the Waiver Period for the Stock Exchange to re-visit the situation. The Stock Exchange expects that, after the end of the Waiver Period, the Company will be able to demonstrate that Ms. Chen can satisfy Rules 3.28 and 8.17 of the Listing Rules after having the benefit of Ms. Cheng's assistance such that a further waiver will not be necessary; and (iii) the Company will announce details of the waiver, including reasons for the waiver and the waiver conditions. The waiver will revoke immediately when Ms. Cheng ceases to provide assistance to Ms. Chen.