The board of directors of Huayi Tencent Entertainment Company Limited announced that Mr. WANG Zhongjun ("Mr. WANG"), an Executive Director, has tendered his resignation to the Company in respect of his positions as an Executive Director, the Chairman of the Board (the "Chairman"), the chairman and a member of each of the Nomination Committee and Corporate Governance Committee of the Company with effect from 30 March 2021 as he needs to devote more time to his other business engagements. Mr. WANG has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company. Subsequent to Mr. WANG's resignation, his day-to-day management responsibilities as the Chairman will be temporarily taken up by Mr. YUEN Hoi Po ("Mr. YUEN"), an Executive Director and the Chief Executive Officer of the Company. The Company will arrange for the election of the new Chairman as soon as practicable in order to fill up the vacancy left due to Mr. WANG's resignation of the Chairman. The Board announced that Mr. YUEN has been appointed as the chairman and a member of Corporate Governance Committee; and Mr. CHU Yuguo, an independent non-executive Director and a member of the Nomination Committee of the Company, has been appointed as the chairman of the Nomination Committee. All the above appointments will be effective from 30 March 2021.