The board of directors of Best Food Holding Company Limited announced that Mr. Zhao John Huan has resigned from the position as the chief executive officer of the Company with effect from August 26, 2019 in order to optimize the roles of the Board members and to better comply with code provision A.2.1 of the Corporate Governance Code in Appendix 14 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. Mr. Zhao will remain as an executive Director and the chairman of the Company. The Board announced that Mr. Wang Xiaolong, an executive Director, has been appointed as the Chief Executive Officer with effect from August 26, 2019. Mr. WANG Xiaolong, aged 43, has joined the Group as an executive Director since 9 August 2016. Mr. Wang is currently a managing director of Hony Capital, and joined Hony Capital in 2003 and has been consistently focusing on investment in the consumer and retail sector during the past 15 years, with a particular emphasis on subsectors of retail, fast-moving consumer goods (FMCG), catering and fast food franchise.