The board of directors (the “Board”) of Beijing North Star Company Limited (the “Company”) announces that, Mr. HE Jiang-Chuan (“Mr. HE”), the Chairman of the Board and an executive Director of the Company, has tendered his resignation to the Company due to work rearrangement. Mr. HE has applied for resignation as the Chairman of the Board, an executive Director, a member and the chairman of the Strategic Committee and a member and the chairman of the Nomination Committee under the Board. According to the Company Law of the People’s Republic of China, the Articles of Association of the Company and related requirements, the resignation of Mr. HE will not result in the number of the members of the Board falling below the quorum. Mr. HE’s resignation application has taken effect upon its delivery to the Board on 14 May 2020. As of the date of this announcement, Mr. HE does not hold any underlying shares or other valuable securities associated with the Company.