BabyTree : CHANGE OF VICE CHAIRMAN OF THE BOARD

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BABYTREE GROUP ᘒᘒዓණྠ

(Incorporated in Cayman Islands with limited liability)

(Stock Code: 1761)

CHANGE OF VICE CHAIRMAN OF THE BOARD

The Board announces that, with effect from March 30, 2021,

(1) Mr. Wang Changying has stepped down from his role as the vice chairman of the Board but will remain as a non-executive Director; and

(2) Mr. Gao Min has been appointed as the vice chairman of the Board.

The board (the "Board") of directors (the "Directors", each a "Director") of BabyTree Group (the "Company", together with its subsidiaries, the "Group") announces that Mr. WANG Changying ("Mr. Wang"), a non-executive Director, has stepped down from his role as the vice chairman of the Board with effect from March 30, 2021 due to reassignment of duties and responsibilities. Mr. Wang will remain as a non-executive Director. Mr. Gao Min ("Mr. Gao"), a non-executive Director, has been appointed as the vice chairman of the Board with effect from March 30, 2021.

Mr. Wang has confirmed that he has no disagreement with the Board and there is no other matter in relation to his resignation as the vice chairman of the Board that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). There are no changes in the terms of appointment of Mr. Wang upon the change in his role and his appointment letter as a non-executive Director shall remain effective.

The biographical details of Mr. Gao are set out as follows:

Mr. Gao, aged 47, was appointed as a non-executive Director on January 20, 2021. He has been appointed as the vice chairman of the Board with effect from March 30, 2021.

Prior to joining the Group, from July 1995 to April 2000, Mr. Gao joined Shanghai Biouxi Gas Co., Ltd. (ɪऎˢᆄГं᜗Ϟࠢʮ̡) and served as human resources director. From November 2001 to June 2002, he served as human resources director and management consultant of Pufeng International Management Consultancy Co., Ltd. (౷ᔮ਷ყ၍ଣፔ༔Ϟ ࠢʮ̡). From July 2002 to February 2007, he served as assistant to chairman of the board of directors and the director of administrative human resources of Shanghai Tongce Real Estate Consultancy Co., Ltd. (ɪऎΝഄגପፔ༔Ϟࠢʮ̡) (currently known as Tongce Real Estate Consultancy Co., Ltd. (Νഄגପፔ༔ٰ΅Ϟࠢʮ̡)). From March 2007 to January 2015, he served as the vice president and general manager of human resources center of Shanghai Forte Land Company Limited (ూή€ණྠٰ΅Ϟࠢʮ̡) and as the chairman of the board of directors of its several subsidiaries. From February 2015 to February 2016, Mr. Gao joined Shanghai Fosun High Technology (Group) Co., Ltd. (ɪऎూ݋৷߅Ҧ€ණྠϞࠢʮ̡) and served as assistant to the president and co-general manager of human resources department. From June 2015 to May 2017, Mr. Gao served as a non-executive director of Shanghai Ganglian E-commerce Holdings Co., Ltd. (ɪऎ፻ᑌཥɿਠਕٰ΅Ϟࠢʮ̡) (a company listed on the Shenzhen Stock Exchange, stock code: 300226). From March 2016 to September 2018, he served as vice president and general manager of human resources center of Shanghai Yuyuan Tourist Mart (Group) Co., Ltd. ( ɪऎ፝෤༷ࣚਠ۬€ණྠٰ΅Ϟࠢʮ̡) (a company listed on the Shanghai Stock Exchange, stock code: 600655), and from December 2018 to December 2019 and since November 2020, he has served as its non-executive director.

Since February 2016, Mr. Gao has served as a non-executive director of Zhaojin Mining Industry Company Limited (םږᘤٰุ΅Ϟࠢʮ̡) (a company listed on the Stock Exchange, stock code: 1818). Since October 2018, he has worked at Shanghai Fosun High Technology (Group) Co., Ltd. and has served various positions including senior assistant to the president, co-chief human resource officer, vice president and global partner. He is also currently a non-executive director of Tebon Securities Co., Ltd. (ᅃԞᗇՎٰ΅Ϟࠢʮ̡) and a non-executive director of Baihe Jiayuan Network Group Co., Ltd. (ϵΥԳᇝၣഖණྠٰ΅

Ϟࠢʮ̡).

Mr. Gao obtained his bachelor's degree in arts from Shanghai Normal University in July 1995, and his master's degree in business administration from China Europe International Business School in April 2002.

The Company has entered into an appointment letter with Mr. Gao for a term of three years commencing from January 20, 2021 which may be terminated by either party giving to the other not less than one month's prior notice in writing. Mr. Gao is also subject to retirement by rotation and re-election requirements at an annual general meeting of the Company pursuant to the articles of association of the Company and the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). Mr. Gao will not receive remuneration for his services as a non-executive Director as determined by the Board with reference to the recommendation from the remuneration committee of the Company, having taken into account his duties and responsibilities with the Company and prevailing market conditions. There are no changes in the terms of appointment of Mr. Gao upon the change in his role and his appointment letter as a non-executive Director shall remain effective.

As of the date of this announcement, Mr. Gao (i) has no interest in the shares of the Company which is required to be disclosed pursuant to Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong); and (ii) has no relationship with any directors, senior management or substantial or controlling shareholders of the Company.

Save as disclosed above, as at the date of this announcement, Mr. Gao (i) does not currently hold any other position with the Company or any of its subsidiaries; (ii) has not held any directorship in Hong Kong or overseas listed public companies in the past three years; and (iii) there is no other information that should be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules, nor any other matter that needs to be brought to the attention of the shareholders of the Company.

By Order of the Board

BabyTree Group WANG Huainan

Chairman

Hong Kong, March 30, 2021

As at the date of this announcement, the Board comprises Mr. XU Chong and Mr. PAN Zhiyong as executive Directors; Mr. WANG Huainan, Mr. GAO Min, Mr. QIAN Shunjiang, Mr. WANG Changying, Mr. WU Ying and Mr. Christian Franz REITERMANN as non-executive Directors; and Mr. CHEN Guanglei, Mr. De-chao Michael YU, Mr. SHIAH Hung-Yu and Mr. ZHANG Hongjiang as independent non-executive Directors.