The board of directors of China Pioneer Pharma Holdings Limited announced that, with effect from the date of this announcement, Mr. Luk Chi Shang and Mr. Hui Lap Keunghave resigned as an executive Director and a non-executive Director respectively, so that they could devote more time to their other commitments. The Board also announced that, with effect from the date of this announcement, Mr. Xiao Guoguang has been re-designated from an independent non-executive Director to an executive Director. Mr. Xiao, aged 57, was appointed as an independent non-executive Director and a member of each of the remuneration committee and the nomination committee (the "Nomination Committee") of the Board on 20 March 2020. The Board announced that, with effect from the date of this announcement, Ms. Hu Mingfei has been appointed as a non-executive Director and Mr. Wang Yongli ("Mr. Wang") has been appointed as an independent non-executive Director. Ms. Hu is experienced in law and medical devices. She served in the Supreme People's Court of the People's Republic of China from 1986 to 2002 with her last duty as a judge and in Beijing Vistek Medical Co Ltd. from 2004 to 2019 with her last duty as Vice President and as Senior Consultant to Shanghai Xinlang Medical Co. Ltd. from 2019 to the present. Mr. Wang is working as Person in Charge of Compliance and Risk Control in Shanghai Yunqi Asset Management Co. Ltd. since 2017 to present. The Board announces that, in view of the Re-designation and appointment, the following arrangements on the Board committees are made with immediate effect: (i) Mr. Xiao will no longer serve as a member of the Remuneration Committee and Nomination Committee; and (ii) Mr. Wang is appointed as a member of the Remuneration Committee and the Nomination Committee.