The Board announced that Mr. Han Jun has been redesigned from a non-executive Director to an executive Director and Ms. Li Luyi has been redesigned from an executive Director to a non-executive Director, both with effect from February 5, 2015. The Board also announced that Ms. Li Luyi has resigned as the chief executive officer of the Company with effect from February 5, 2015. Mr. Han Jun joined the Company in December 2013.

Prior to the redesignation, Mr. Han was a non-executive Director of the Company. Ms. Li Luyi joined the Group in February 2010. Prior to the redesignation, Ms. Li was an executive Director and chief executive officer of the Group and responsible for overseeing the daily operations of the Group.