The Board of China Partytime Culture Holdings Limited announced that Mr. Phen Chun Shing, Vincent has tendered resignation as an Executive Director of the Company with effect from 3 April 2020. The Board further announces that Mr. Xu Chengwu has been appointed as an Executive Director of the Company with effect from 3 April 2020. Mr. Xu, aged 50, joined the Group since 2012 as the Finance Manager of Partytime Costume & Lingerie (Yiwu) Factory, company's wholly-owned subsidiary. Mr. Xu obtained his Bachelor Degree in Accounting from the Hunan Radio and TV University in July 1999 and is a Registered Tax Agent under the State Administration of Taxation in the PRC. He has over 25 years of experience in finance and taxation and is responsible for the financial planning, management and internal control matters of Group. Prior to joining the Group, Mr. Xu worked as finance clerk, account manager and finance manager in various private companies in the PRC.