The Board of Aoyuan Healthy Life Group Company Limited announced that Mr. Su Bo has resigned as the president of the Group with effect from 27 January 2021 and will continue to serve as the executive president of the Group, responsible for the management of the daily operation of the general health and wellness business of the Group. Following Mr. Su's resignation as the President, the Board announced that Mr. Zheng Wei, an existing executive Director, has been appointed as the President, responsible for coordinating the general management and operation of the Group, with effect from 27 January 2021. Mr. Zheng an executive Director, has obtained a bachelor's degree in engineering mechanics and a master's degree in solid mechanics from Tsinghua University in July 1999 and July 2001, respectively. Mr. Zheng has previously entered into a service contract with the Company in relation to his appointment as an executive Director for an initial term of three years which is renewable automatically and can be terminated by either party giving three months' written notice.