The board of directors of Goodbaby International Holdings Limited announced that each of Mr. Yang Ilcheul and Mr. Xia Xinyue has been appointed as an executive Director and Ms. Fu Jingqiu has been appointed as a non-executive Director, and each of Mr. Jan Rezab and Mr. Wang Haiye has tendered his resignation as an executive Director, all with effect from 10 November 2017. Mr. Yang was appointed as an executive Director on 10 November 2017 being responsible for the Group's retail strategy and its execution, as well as business development of the Group in China. With over 20 years' experience in retail business, Mr. Yang has thorough insight into landscape and development trend of retail industry in China and in-depth understanding of global retail industry dynamics. He was experienced in successful development and implementation of retail strategies and comprehensive management of retail business and organization with distinguished spirit and capability for innovation. From 1992 to January 2017, Mr. Yang worked in E-Land Group, where he was responsible for supply chain management, Puma Sports business and WHO.A.U business and later on served various positions in E-Land Group such as general manager for business in the southwest China region, the east China region and the northern China region successively. Afterwards, he was general manager of E-Land international retail business and then managed its retail business in whole the Asia Pacific region and served as managing director of New Core City Lifestyle Mall. Mr. Xia was appointed as an executive Director on 10 November 2017. Mr. Xia will be responsible for the Groups global supply chain strategy and its execution, including production, procurement and logistic. Mr. Xia has extensive management experience in automotive industry for over 25 years. He was the president of the China division of the Faurecia Automotive Seating Business Group for more than 6 years managing 15 factories before he joined Group. Prior to this, he served various positions within Faurecia Automotive Seating Business Group China division from plant general manager to deputy general manager of the China division. Before he joined Faurecia China in December 2004, Mr. Xia ever worked for different international companies of automotive industry in China. Ms. Fu was appointed as a non-executive Director on 10 November 2017. With her over 30 years of extensive experience in retail and distribution of juvenile products in China, Ms. Fu will provide business operation guidance and advisory consulting services to the Group for development and management of its business in China market. Ms. Fu is the co-founder of Goodbaby China Holdings Limited and is now primarily responsible for the overall business management and strategic development of CAGB Group. Before founding of CAGB group, Ms. Fu was the vice president of Goodbaby Child Products Co. Ltd., from February 1993 to July 2010, where she was primarily responsible for retail and distribution of GCPC products in China market.