The board of directors of Beijing North Star Company Limited announces that on 6 December 2023, the Board received a resignation application from Ms. LI Yun, an executive director of the Company. Due to work rearrangement, Ms. LI applied to resign as an executive director, a member of the nomination committee, a member of the strategic committee and the general manager of the Company. According to the Company Law of the People's Republic of China, the Articles of Association of the Company and related requirements, Ms. LI's resignation as an executive director will not result in the number of members of the Board falling below the minimum quorum and will not affect the normal operation of the Board.

Ms. LI's resignation application took effect from the date on which it was served on the Board. The Company will complete the election of an executive director, as well as members of the relevant special committees of the Board and the general manager of the Company in accordance with the legal procedures to fill the vacancies as soon as possible. The Company held the 89th meeting of the ninth session of the Board on 7 December 2023, appointing Mr. LI Wei-Dong, Chairman of the Company, to act as the general manager during the absence of general manager, until the date of appointment of a new general manager by the Board.