Mr. Donghao Yang will step down from the Vipshop Holdings Limited's Chief Financial Officer position for personal reasons in November 2020, and the Company's Board of Directors has appointed Mr. Yang as a new Non-Executive Director, effective simultaneously with the change of his position. Mr. Yang has served as the Company's Chief Financial Officer since 2011 and made significant contributions to the Company's growth and transformation from a privately held company into a publicly listed company with effective internal control and compliance systems in the past nine years.