Shanghai La Chapelle Fashion Co., Ltd. announced that Mr. Xing Jiaxing has tendered his resignation as a chief executive officer of the Company with effect from 29 October 2019. Mr. Xing Jiaxing will remain as the legal representative, an executive Director and the chairman of the Company. Following Mr. Xing Jiaxing's resignation as a chief executive officer of the Company and adjustments made to the Company's senior management structure in accordance with actual operation circumstances, Mr. Yu Qiang ("Mr. Yu"), an executive Director, ceases to be the co-president of the Company and is appointed as the chief executive officer of the Company, with effect from 29 October 2019, and will be responsible for managing the day-to-day operations of the Company.

Mr. Yu will also be as the acting secretary of the Board. Mr. Yu's term of office as the chief executive officer of the Company will be from 29 October 2019 to the expiry date of the term of the third session of the Board. The Board announced that, in order to refine the Company's management structure and ensure that the normal operation of the Board, the Board wishes to nominate Mr. Wang Wenke as a non-executive Director.