The board of directors of BabyTree Group announced that a strategic committee has been established under the Board with effect from January 20, 2021, which is responsible for, among others, examining and making recommendations to the Board on the long-term development strategies, major investment plans, major capital operation and asset operation projects of the Company. Mr. Wang Huainan ("Mr. Wang") has been appointed as the chairman and Mr. Xu Chong, Mr. Wang Changying, Mr. Wu Ying, Mr. Chen Guanglei and Mr. Shiah Hung- Yu have been appointed as the members of the strategic committee. The Board announced that each of Ms. Cai Yumin ("Ms. Cai") and Ms. Yan Jia ("Ms. Yan") has resigned from her role as a non-executive Director with effect from January 20, 2021 to better focus on other business engagements. Each of Mr. Qian Shunjiang ("Mr. Qian") and Mr. Gao Min ("Mr. Gao") has been appointed as a non-executive Director with effect from January 20, 2021. Mr. Qian has also been appointed as a member of the strategic committee with effect from January 20, 2021. Mr. Qian, has been appointed as a non-executive Director and a member of the strategic committee with effect from January 20, 2021. Mr. Gao, has been appointed as a non-executive Director with effect from January 20, 2021. Mr. Wang has also been re-designated from an executive Director to a non-executive Director with effect from January 20, 2021. As the chairman of the Board and a non-executive Director, Mr. Wang is responsible for the Company's overall strategy formulation. Mr. Wang, was appointed as a Director on February 9, 2018 and was re- designated as an executive Director and chairman of the Board on June 11, 2018. The Board announced that Mr. Pan Zhiyong has been appointed as an executive Director, and a member of the strategic committee of the Company with effect from January 20, 2021. Mr. Pan is responsible for the implementation of the Company's strategies to achieve the performance goals of the Company. Mr. Pan, served as the president of the Company from August 2020 to January 20, 2021.