The board of directors of Values Cultural Investment Limited announced that Mr. Wu Tao (Mr. Wu) has resigned as the chief executive officer of the Group, but remain as the general manager of Values Culture Media Co. Ltd. with effect from 27 August 2021 due to his other business arrangements. The Board announced that Ms. Cai Xiaoxin (Ms. Cai) has been appointed as the chief executive officer of the company with effect from 27 August 2021. Ms. Cai currently works in Suiyong Holdings.