The board of directors of Enterprise Development Holdings Limited (the "Company") hereby announced that Ms. Mao Junjie ("Ms. Mao") was appointed as an executive Director with effect from 31 December 2020. Ms. Mao has entered into a management employment contract with the Company on 31 December 2020 for an initial term of three years commencing from 31 December 2020 unless terminated by not less than one month's notice in writing served by either party to the other.