The board of directors of China Ludao Technology Company Limited announced that Mr. Tan Xiangdong has resigned as an executive director of the company and deputy chairman of the board with effect from 6 November 2020 to allow him to devote more time for his personal commitments. Upon his resignation, Mr. Tan will cease to hold any position in the Group. Mr. Tan has confirmed that he has no disagreement with the Board and he is not aware of any matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company.