The board of directors of Kuaishou Technology hereby announced that Mr. Chen Dingjia (Mr. Chen) will resign as the chief technology officer of the company with effect from January 18, 2023, as he would like to devote more time to his family and personal commitments. In view of Mr. Chen's significant contributions to the Group, he will serve as a lifetime honorary advisor of the Group with effect from January 18, 2023, continuing to provide guidance and support to the Group. The Group is committed to becoming the most customer-obsessed company in the world.

Upon the resignation of Mr. Chen, two senior vice presidents of the Group in charge of the related functions will assume his responsibilities and jointly report to Mr. Cheng Yixiao, the co-founder, executive Director and chief executive officer of the Company. Such arrangement will further enhance the technological research and development capabilities to integrate and empower various business lines of the Group, and assure the Group to maintain its high standard research and development as well as technological innovation capabilities.