The board of directors of Elate Holdings Limited announced that with effect from 8 January 2021, Ms. Ye Yi Fan ("Ms. Ye") was appointed as an independent non-executive Director, the chairman of the Board's nomination committee, members of audit committee and remuneration committee. Ms. Ye Yi Fan, aged 38. Ms. Ye graduated from Beijing Film Academy in China, and participated in movies and TV shows shooting. Ms. Ye also taught performing arts. The Board announced that with effect from 8 January 2021, Ms. Xu Jia Yin ("Ms. Xu") resigned as an independent non-executive director, the chairman of the Nomination Committee and the member of the Audit Committee and the Remuneration Committee due to unexpected family reason. Ms. Xu and the Board have confirmed that Ms. Xu has no disagreement with the Board, and she is not aware of other matters in connection with her resignation that need to be brought to the attention of the shareholders of the Company and the Stock Exchange of Hong Kong Limited.