Sunlands Technology Group announced Mr. Steven Yipeng Li, the Company's Chief Financial Officer, has tendered his resignation for personal reasons, effective April 30, 2020. The board of directors of the Company has appointed Ms. Selena Lu Lu, Sunlands' Chief Strategy Officer and director, to serve as Chief Financial Officer, effective April 30, 2020. Ms. Lu will also continue to serve as Chief Strategy Officer of the Company. Mr. Li and Ms. Lu will work together to ensure a smooth transition. Ms. Lu has served as Sunlands' Chief Strategy Officer since joining the Company in July 2015 and has been an instrumental part of the senior management team leading three rounds of private financing and the Company's IPO. Prior to joining Sunlands, Ms. Lu served as a Partner at Taihe Capital and as an Executive Director at Hina Investment Group, two leading boutique investment banks.