The board of directors of BabyTree Group announced that, a written notice dated 11 April 2023 had been served upon Mr. XU Chong (Mr. Xu) to remove him from office as a Director on the same date (the Removal). Pursuant to Article 16.18(f) of the amended and restated articles of association of the company (the "Articles"), the Removal took effect immediately. The Removal was because the company is not satisfied with Mr. Xu's performance.

Therefore, the Board considered that the Removal was in the best interests of the company and its shareholders as a whole. Accordingly, the board also resolved that Mr. Xu has ceased to be an executive Director, a member of the remuneration committee (the remuneration committee) of the company, a member of the strategic committee (the strategic committee) of the company and an authorized representative (the Authorized Representative) of the company under Rule 3.05 of the Rules (the Listing Rules) Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited with immediate effect. Mr. Xu's current position(s) within the relevant subsidiaries or affiliated companies of the Group (including but not limited to as a director, supervisor and/or any finance related positions, etc.) will be adjusted so as to effect the removal in accordance with the relevant contracts and/or laws and regulations of the relevant jurisdiction(s).

The board also announces that, it received a resignation letter from Mr. CHEN Weijun (Mr. Chen) on 11 April 2023, pursuant to which Mr. Chen has resigned as a non-executive director and a member of the strategic committee, with effect from 6 April 2023. The board announced that Ms. MA Lie (Ms. Ma) has ceased to be a joint company secretary (the joint company secretary) of the company and the other Authorized Representative, with effect from 11 April 2023. In light of the foregoing, the board also announces that Ms. TANG Yimin (Ms. Tang) has been appointed as a Joint company secretary on 11 April 2023, with effect upon the granting of the Waiver by the Stock Exchange.

Ms. Tang, aged 39, joined the Group in April 2023 as the general manager of the investor relations center and the office of board secretary. Ms. Tang has over 12 years of experience in capital market transactions in Hong Kong, corporate governance, information disclosure and regulatory compliance for listed companies. Prior to joining the Group, from November 2020 to August 2021, Ms. Tang served as an executive director of the office of board secretary of Fosun Tourism Group; and from September 2021 to March 2023, she served as an executive director of the office of board secretary of Fosun International Limited, during which she was responsible for, among others, corporate governance, information disclosure and regulatory compliance matters for listed companies.

Prior to that, Ms. Tang held various positions including an associate, among others, in Paul Hastings and Kirkland & Ellis, during which she mainly advised on public offerings in Hong Kong and the United States and corporate governance and regulatory compliance matters for listed companies. Ms. Tang was admitted to practice law in the State of New York in December 2011. Ms. Tang graduated from the Law Department of the Law School of National Chengchi University with a bachelor's degree in law in June 2005, graduated from the Graduate Institute of Intellectual Property of the School of Business of National Chengchi University with a master's degree in intellectual property management in July 2007 and graduated from the Georgetown University Law Center with a master of law degree in securities and financial regulations in May 2008.

In light of the foregoing, the Board also announces the appointment of Mr. GAO Min (a co-chairman of the Board and an executive Director) as an Authorized Representative and a member of the Remuneration Committee and the appointment of Mr. CHEN Bing (non-executive Director) as the other Authorized Representative, with effect from 11 April 2023.