The board of directors of Red Star Macalline Group Corporation Ltd. announced that, on 15 February 2023, the Company received a written resignation from Mr. YANG Guang, a non-executive Director. Due to related work arrangements, Mr. YANG thereby proposed to the fourth session of the Board to resign as a non-executive Director. Mr. YANG has confirmed that (i) he has no disagreement with the Board.

The aforementioned resignation became effective from the date when the written resignation was delivered to the Board. The Board further announced that, as recommended by Taobao China Holding Limited, a Shareholder, and reviewed and nominated by the nomination committee, the relevant resolution has been approved at the meeting of the Board held on 16 February 2023 to propose the appointment of Mr. CHEN Xi as a non-executive Director of the fourth session of the Board in accordance with the relevant regulations of Company Law of the People's Republic of China and the articles of association of the Company. The appointment of Mr. CHEN as a non-executive Director of the Company shall be subject to approval by the Shareholders at the extraordinary general meeting to be convened and held in due course.

Mr. CHEN, aged 50, joined Alibaba Group Holding Limited in November 2015 and is currently the general manager of the Tmall's Apparel and Automotive Division of Alibaba Group, responsible for industry operations. Mr. CHEN was previously the technical director and chief application architect of the IBM Global Business Services Department (GBS)-SAP Division from August 2000 to May 2012; and the CIO and general manager of E-Commerce Division of Lancy Co. Ltd. from May 2012 to November 2015.

The Board further announced that, at the Board meeting held by the Company on the same day, Mr. ZHENG Yongda, the non-executive Director, was appointed as the vice chairman of the Board and a member of the remuneration and evaluation committee and the nomination committee of the Company; Mr. WANG Wenhuai, the non-executive Director, was appointed as a member of the strategy and investment committee of the Company; and Mr. ZOU Shaorong, the non-executive Director, was appointed as a member of the audit committee of the Company. Ms. QIN Hong, the independent non-executive Director, was appointed as a member of the remuneration and evaluation committee and the nomination committee of the Company.