The board of directors of Sun Art Retail Group Limited announced that Mr. HUANG Ming-Tuan has resigned as the chief executive officer of the company with effect from 10 May 2021 as he has reached retirement age. Upon Mr. Huang's cessation to act as the chief executive officer of the Company, the Board agrees that, Mr. LIN Xiaohai, the executive Director, has been appointed as chief executive officer of the company with effect from 10 May 2021. Mr. Lin is currently an executive Director of the company since 22 December 2020 and has been appointed as the chief executive officer of the company on 10 May 2021. Mr. Lin also serves as a Director in certain subsidiaries of the company. He is responsible for the company's daily management, planning and implementing the overall strategies, financial objectives and direction of the company, and overseeing its business operations.