The board of directors of Coolpad Group Limited announced that Mr. Liang Rui has resigned as the chief executive officer of the Company and has been re-designated from an executive Director to a non-executive Director with immediate effect from 20 December 2020 as he wishes to devote more time to his other commitments. Mr. Liang, has been an executive Director of the Company since 19 January 2018. He was appointed as the chief executive officer of the Company on 30 August 2019. He is currently a president of Shenzhen Shuibei Jewelry Group. The Board announced that Mr. Chen Jiajun, has been appointed as the chief executive officer of the Company with immediate effect from 20 December 2020. Mr. Chen, has been an executive Director since 17 January 2019. In the past, he was appointed as the chief executive officer of the Company on 17 January 2019, and was later re-designated as the chairman of the Board on 30 August 2019.