The board of directors of Cheshi Holdings Limited (the "Company", together with its subsidiaries and its consolidated affiliated entities, collectively the "Group") announced that with effect from March 29, 2021, Ms. Suo Yan has resigned as an executive Director and a member of remuneration committee of the Board (the "Remuneration Committee") due to internal staffing arrangements of the Company but will continue to serve as the Company's senior vice president. The Board further announced that, Mr. Lin Yuqi ("Mr. Lin") has been appointed as an executive Director, a member of the Remuneration Committee and chief technological officer with effect from March 29, 2021 following the resignation of Ms. Suo Yan. Mr. Lin, age 34, has over 10 years of experience in the Internet industry. Before joining its Group in 2016, Mr. Lin began his career as an enginner in CNet (Beijing) Information Technology Co. Ltd. from 2010 to 2012. He then joined Juzhong Netcom (Beijing) Technology Co. Ltd. in 2012 and served as director of the technology department until 2016.