The board of directors of China Youzan Limited (the ‘Company', together with its subsidiaries, collectively the ‘Group') announced that Mr. Li Shaojie (‘Mr. Li') has been appointed as an independent non-executive Director and a member of each of the audit committee (the ‘Audit Committee') and the inside information committee (the ‘Inside Information Committee') with effect from 18 March 2022. Mr. Li Shaojie, has been appointed as an independent non-executive Director and is responsible for supervising and providing independent advice to the Board. Mr. Li is currently the chairman of Rich Flag Sci & Tech Group Co.

Ltd. Mr. Li has about 20 years of ample experience in Internet brand marketing. The board hereby announced that Mr. Yu Tao has been appointed as the chairman of each of the Inside Information Committee and the Risk Committee; and Mr. Li has been appointed as a member of each of the Audit Committee and the Inside Information Committee with effect from 18 March 2022. The Board announced that, Ms. Han Xia (‘Ms. Han') has been appointed as the joint company secretary of the Company with effect from 18 March 2022.

Ms. Han, is currently the director of securities affairs of the Company. She served as the investment director of Beijing Shangyin Investment Consultancy Co., Limited from March 2010 to June 2018. Mr. Cheng Ching Kit, the other company secretary of the Company, will continue to serve as the joint company secretary of the Company.