Secoo Holding Limited announced changes to its Board of Directors and Board committees. Mr. Wenning Xing has been appointed as an independent director of the Company, effective immediately, based on the recommendation of the nominating and corporate governance committee of the Board. Five non-independent directors of the Company, including Mr. Xian Chen, Ms. Zhaohui Huang, Mr. Jeff Zhaoxian Lin, Ms. Ping Xu and Mr. Le Yu, will step down from the Board, effective immediately, and Ms. Zhaohui Huang no longer serves as a member of the nominating and corporate governance committee of the Board, effective on the same date. These resignations were not a result of any disagreement with the Company regarding its business, operations, policies, practices or any other matters. Mr. Richard Rixue Li, the Chairman and Chief Executive Officer of the Company, no longer serves as a member of the compensation committee of the Board, effective immediately. Upon the effectiveness of these changes, the Board will consist of seven directors, including four independent directors. All the committees of the Board satisfy the independence requirement of the Nasdaq. Mr. Wenning Xing, currently serves as the China Managing Director of Hearst, an operator of several international magazine and digital media brands such as ELLE, Harper’s Bazaar and Cosmopolitan, Hearst Media China, Trends Media Group, Fitch China, A&E Networks, ESPN, VICE, Hearst Ventures, and a media-focused investment fund. Under his tenure, Hearst made investments such as Legendary Pictures, Impression Creative, Kunlun Fight, Bilibili, Liulishuo, Atzuche and Zcool. Wenning is also in charge of handling government and public relations, strategic business development, and mergers & acquisitions at Hearst. Before joining Hearst, Wenning held several senior executive positions, including Chief Strategy Officer at a subsidiary of People’s Daily, the biggest newspaper group in China, founder and Chief Representative at Fremantle Media China and Executive Director at Bertelsmann China and held key posts at Time Warner and China Central Television (CCTV).