The Board of BBMG Corporation has received a resignation letter from the chairman of the Board and an executive director of the Company, Mr. Jiang Deyi, on 21 August 2020 in respect of his duties as chairman of the Board, an executive director of the Company and chairman of the Strategic Committee of the Company with effect from 21 August 2020. At the 2020 First Extraordinary General Meeting, the resolution in relation to the election of Mr. Zeng Jin as a new director of the Company has been approved. Mr. Zeng Jin has entered into a service contract with the Company for serving as a director of the Company with a term commencing from the conclusion of the 2020 First Extraordinary General Meeting and expiring on the date of the annual general meeting of the Company for the year 2020. The Board has received a resignation letter from a non-executive director of the Company, Mr. Guo Yanming, on 20 August 2020 in respect of his resignation as a non-executive director of the Company with effect from 20 August 2020. Following his resignation as a non-executive director of the Company, Mr. Guo Yanming also resigned as a member of the Audit Committee at the same time. According to the meeting of the Board held on 21 August 2020, it was resolved and approved that Mr. Wang Zhaojia be appointed as a member of the Audit Committee of the fifth session of the Board with immediate effect. The supervisory board of the Company (the "Supervisory Board") has received a resignation letter from chairman of the Supervisory Board, Mr. Pei Ying, on 20 August 2020 to tender his resignation as a supervisor of the Company ("Supervisor") and chairman of the Supervisory Board with effect from 20 August 2020. Following the resignation of Mr. Jiang Deyi, at the meeting of the Board held on 21 August 2020, it was resolved that Mr. Zeng Jin be appointed as the chairman of the Strategic Committee of the Company.