The board (the "Board") of directors (the "Directors") of China Traditional Chinese Medicine Holdings Co. Limited (the "Company", together with its subsidiaries, the "Group") announced that Mr. WANG Xiaochun ("Mr. WANG") has resigned as the Managing Director of the company with effect from 13 July 2021 due to physical reasons. On 13 July 2021, the Board has appointed Mr. CHENG Xueren ("Mr. CHENG"), a vice president of the company, to act as general manager in accordance with the provisions of New Articles of Association of the Company. Mr. CHENG will be responsible for the implementation of the important policies and development strategies approved by the Board and has direct management responsibility for the daily operations of the Group. The Board will keep running in accordance with the laws and regulations to ensure the continued stability of the company's operation. The Board announced that Mr. WANG will remain as an executive Director of the company and has been elected as the Deputy Chairman of the Board with effect from 13 July 2021. The biographical details of Mr. WANG and Mr. CHENG are set out below: Mr. WANG, aged 53, an executive Director. Mr. WANG obtained bachelor's degree in law from Southwest University of Political Science and Law in 1989. Since 1997, he has been the chairman of the board of directors and the president of Guizhou Tongjitang Pharmaceutical Co. Ltd. (a subsidiary of Tongjitang Chinese Medicines Company ("Tongjitang")).