01116.HK announced that on December 3, 2021, the company received a letter from Mr. Xu Lidi concerning his resignation as chairman of the board of directors and executive director, effective from December 3, 2021. Upon receipt of the resignation letter, the Board of Directors of the Company tried to contact Mr. Xu to further understand the reasons for his resignation and to persuade him to withdraw his resignation, but the contact has not been successful as of the date of this announcement. Accordingly, the Board hereby announces that Mr. Xu ceases to be the Chairman and Executive Director of the Board and the Chairman and member of the nominating Committee of the Company.
Accordingly, the Board hereby announces that Mr. Xu ceases to be the Chairman and Executive Director of the Board and the Chairman and member of the nomination Committee of the Company with effect from 3 December 2021. The Board would like to add that in his resignation letter, Mr. Xu made a number of allegations against the Company and certain directors and shareholders as the reasons for his resignation. The company is seeking legal advice on the allegations made by Mr. Xu and will issue a further announcement in due course to inform the company's shareholders and potential investors of any further material developments in the above matters.