Yunji Inc. announced the appointment of Mr. Xuefeng Chen as an independent director of the Company, effective September 6, 2023. Mr. Suqin Xi has concurrently resigned from his position as an independent director and no longer serves as a member on the audit committee, compensation committee, and nominating and corporate governance committee of the Company's board of directors. Mr. Xuefeng Chen will serve as a member on each of these committees.

Mr. Xuefeng Chen joined Shenzhen Tiantu Capital Co. Ltd. ("Tiantu") in 2015 and currently serves as its Managing Director and Head of Investment and Financing Management Department. He is responsible for fund management and post-investment project management.

Prior to joining Tiantu, Mr. Chen served as a vice president of Shenzhen Jinxin Industrial Group from 2012 to 2015. He served as a partner at Guangdong Ruiting Law Firm from 2010 to 2012, accumulating rich capital market experience. Prior to that, he worked at Guangdong Jundao Law Firm from 2007 to 2010.

Mr. Chen is a certified public accountant and a certified tax agent. He received his bachelor's degree in law from Southwest University of Political Science and Law in China.