The board of directors of Planetree International Development announced that Mr. Kwong Kai Sing, Benny has tendered his resignation as a non-executive director of the Company with effect from 17 February 2021, due to his other business commitments. In recognition of Mr. Kwong's valuable contribution to the Group during his term of office, the Board has employed Mr. Kwong as the Senior Advisor to the Board for a term of two years following his resignation. Mr. Kwong does not receive any remuneration for his employment as the Senior Advisor to the Board. However, Mr. Kwong is still eligible for participating in the Company's share option scheme and share award scheme. Mr. Kwong has confirmed to the Company 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 and The Stock Exchange of Hong Kong Limited. The Board would like to thank Mr. Kwong for his valuable contribution to the Company during his tenure of office. Consequent upon Mr. Kwong's resignation, he will cease to act as the chairman of the Nomination Committee of the Company with effect from 17 February 2021. The Board announced that Ms. Cheung Ka Yee, has been appointed as the chairman of the Nomination Committee of the Company with effect from 17 February 2021. The biographical details of Ms. Cheung are set out below: Ms. Cheung has been appointed as an Executive Director and a member of the Remuneration Committee of the Company with effect from 30 April 2019. She is also a director of certain subsidiaries of the Company. She holds a Master's degree in Mathematics from the California State University in the United States of America. Ms. Cheung has more than 10 years of experience in property investment and property leasing. She was previously a director of a private investment company principally engaged in securities investment in Hong Kong. Ms. Cheung was an executive director of Mason Group Holdings Limited (formerly known as Willie International Holdings Limited, stock code: 273), a company listed on the Stock Exchange, from July 2013 to April 2016.