Ms. Jean Qing Liu has informed the Company and its board of directors her wish to resign from her current position as a director and President, with a view to focusing on the company's talent and organization, development of supporting functions and social responsibility work. Ms. Liu will be elevated to the role of Permanent Partner reporting to Mr. Will Wei Cheng, the Chairman and CEO of the Company. She will maintain her current duties and responsibilities within the company and maintain the role as the company’s Chief People Officer. Following the above changes, the Company will not hold a President position going forward.