The board of directors of China Uptown Group Company Limited announced that Ms. Li Jiansheng ("Ms. Li") resign as independent non-executive director, chairman of the remuneration committee, a member of the audit committee and nomination committee of the Company with effect from 3 January 2020. The Board further hereby announced that Mr. Chen Weijiang ("Mr. Chen") was appointed as an independent non-executive director, chairman of the remuneration committee, a member of the audit committee and nomination committee of the Company with effect from 3 January 2020. Mr. Chen has over twenty years of experience in the sugar markets in the People's Republic of China. Mr. Chen obtained a law degree from the Xi'an Politics Institute of the People's Liberation Army and commenced work at the Zhanjiang Hengde Sugar Company Limited in 1997. From 2007 to 2017, Mr. Chen acted as the Executive Director of Zhanjiang Hengde Sugar Company Limited.