Yunji Inc. announced the appointment of Mr. Suqin Xi as an independent director on the board of directors of the Company and a member of the audit committee, compensation committee and nominating and corporate governance committee of the Board. Mr. Huan Hao will step down as a member of the audit committee, compensation committee and nominating and corporate governance committee of the Board, while continuing to serve as a director and Chief Technology Officer of the Company. These changes will be effective on January 1, 2020. Prior to joining Puhua Capital, Mr. Xi served as a counsel of Hangzhou Municipal Market Supervision Bureau from 2014 to 2016. From 2009 to 2014, Mr. Xi was the director of Hangzhou Municipal Financial Services Office, where he was responsible for developing and managing local financial services. Prior to that, Mr. Xi served as the deputy director of Hangzhou Administration for Industry and Commerce, from 1998 to 2009, where he was in charge of company registration, trademark advertising supervision, e- government and policy related affairs.