The board of directors of Newborn Town Inc. announced that Mr. WANG Kui ("Mr. WANG") has tendered his resignation as an executive director, a member of the remuneration committee of the Board and the chief financial officer of the Company, and from all positions within the Group with effect from 1 April 2021 due to personal work commitments. The Company will identify a suitable candidate to take up the position of chief financial officer as soon as possible. During this transition period, Mr. SONG Pengliang, a joint company secretary of the Company, will undertake the relevant responsibilities until the new chief financial officer assumes office. The Board announced that, effective from 1 April 2021, Mr. YE Chunjian has been appointed as an executive director and a member of the remuneration committee of the Board of the Company, and Mr. SU Jian has been appointed as an executive director of the Company. The Board hereby announces that Mr. LIU Rong ("Mr. LIU") has tendered his resignation as an independent non-executive director, a member of the audit committee of the Board and the chairman of the remuneration committee of the Board of the Company, and from all positions within the Group with effect from 1 April 2021 due to personal work commitments. The Board announced that, effective from 1 April 2021, Mr. HUANG Sichen has been appointed as an independent non-executive director, a member of the audit committee of the Board and the chairman of the remuneration committee of the Board of the Company. Following the resignation of Mr. WANG, he has also ceased to be one of the authorised representatives of the Company (the "Authorised Representative") for the purpose of Rule 3.05 of the Listing Rules. Mr. LI Ping, an executive director of the Company, has been appointed as an Authorised Representative with effect from 1 April 2021.