The board of Sun Art Retail Group Limited announced that Mr. LIU Peng ('Mr. Liu') has been appointed as a non-executive director of the Company, with effect from 3 March 2022. The Board also announced that Mr. XU Hong ('Mr. Xu') has tendered his resignation as a non-executive director of the Company with effect from 3 March 2022 due to his commitment to other business of Alibaba Group. The board also announced that following the resignation of Mr. Xu, Mr. Liu, the non-executive director, has been appointed as a member of each of Nomination Committee and Remuneration Committee of the Company with effect from 3 March 2022.

Mr. LIU Peng has over 23 years of extensive management experience in China's retail and online industry. He joined Alibaba Group Holding Limited in May 2015 and has served as a president at the B2C retail department since then. He has also acted as a director in certain companies within the Alibaba Group.