Change Announcement of Appointment :: Re designation of Non Independent Non Executive Director to Group Executive Director

Ms. Chen Xiaoling ("Ms. Chen") is currently a Non-Independent Non-Executive Director of the Company. Ms. Chen is a director nominated by Nanjing Xinjiekou Department Store Co., Ltd. ("NJXJK"), a substantial shareholder of the Company. Ms. Chen is also currently the Senior Associate President and Deputy General Manager of Strategy Department in Immune-Therapy & Stem Cell Business Unit of Nanjing Xinjiekou Department Store Co., Ltd., a substantial shareholder of the Company.

The Board having reviewed and considered Ms. Chen's qualifications and experience, concurred with the recommendation of the Nominating Committee ("NC") and approved the re-designation of Ms. Chen as the Group Executive Director of the Company.

Ms. Chen has abstained from all deliberations and decisions of the Board and the NC in respect of re-designation.

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