BlueCity Holdings Limited announced the appointment of Mr. Weiru Chen as new independent director to its board of directors, effective January 5, 2021. Mr. Zhe Wei has concurrently resigned from his positions as a director and a member of the compensation committee and nominating and corporate governance committee of the Board. After the changes, the Board will continue to consist of five members, four of whom are independent directors. The compensation committee will consist of Ms. Rong Lu, Mr. Baoli Ma and Mr. Weiru Chen, with Ms. Rong Lu as the chairperson. The nominating and corporate governance committee will consist of Mr. Baoli Ma, Ms. Wenjie Wu and Mr. Weiru Chen, with Mr. Baoli Ma as the chairperson. Mr. Weiru Chen is an associate professor of strategy at China Europe International Business School (CEIBS). He has served as executive director of the Internet Industry Research Center and chief strategic officer of Alibaba Cainiao Logistic Network between August 2017 and July 2020.