The board of directors of Dynasty Fine Wines Group Limited announced that Mr. Sun Jun has tendered his resignation as an executive Director, the chairman of the Board and the chairman of the nomination committee of the company with effect from 1 October 2020 due to his other business arrangement. Mr. Sun Yongjian has tendered his resignation as an executive Director, a member of the remuneration committee of the company and the authorised 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 effect from 1 October 2020 due to his other business arrangement. Mr. Jean-Marie Laborde has tendered his resignation as a non-executive Director of the company with effect from 1 October 2020 due to his other business arrangement. Mr. Shi Jing has tendered her resignation as a non-executive Director of the company with effect from 1 October 2020 due to her other business engagement. The Board announced that with effect from 1 October 2020 Mr. Wan Shoupeng ("Mr. Wan") will be appointed as an executive Director, the chairman of the Board and the chairman of the Nomination Committee and Mr. Huang Manyou ("Mr. Huang") will be appointed as an executive Director, a member of the Remuneration Committee and an Authorised Representative. Mr. Wan Shoupeng is currently the deputy secretary of communist party committee, a director and general manager of Tianjin Food Group Company Limited. Mr. Huang Manyou is currently member of communist party committee, a director and deputy general manager of Sino-French Joint-Venture Dynasty Winery Limited and a director of Tianjin Dynasty Winery Sales Company Limited.