Pinduoduo Inc. announced that Mr. Neil Shen stepped down from the Company's board of directors (the “Board”), effective as of November 28, 2022. The departure of Mr. Neil Shen was not due to any disagreement with the Company regarding its business, finance, accounting and/or any other matters. The Board now consists of five directors, three of whom are independent directors.

Following Mr. Neil Shen's departure, Dr. Qi Lu joined the audit committee of the Board and Mr. Anthony Kam Ping Leung joined the compensation committee of the Board, effective as of November 28, 2022.