The board of directors of IPE Group Limited announced that Mr. Xu Bing ("Mr. Xu") has been appointed as the Chief Scientist of the Company to guide the future research & development activities of the Company with effect from 9 April 2021. Due to the aforementioned reason, the Board received a resignation letter from Mr. Xu, pursuant to which he resigned from his positions as an independent non-executive director and a member of each of the Audit Committee, Remuneration Committee, Nomination Committee and ESG Committee of the Company. This resignation takes effect from 9 April 2021.