Strawbear Entertainment announced that Ms. Zhang Qiuchen has tendered her resignation as an executive Director with effect from May 4, 2023 in order to devote more time to focus on her other business commitments. Since joining the Group in October 2014, Ms. Zhang has performed her duties diligently and conscientiously as the Chief Marketing Officer and an executive Director. She has played an important role in facilitating the formulation and enforcement of the marketing strategies, improving brand recognition and enhancing comprehensive competitiveness of the Group.

The Board would like to take this opportunity to express its full recognition, high appreciation and sincere gratitude to Ms. Zhang for her invaluable contribution and continuous provision of strong support and assistance to the development of the Company during her tenure of office with the Company.