[17 December 2021, Hong Kong] Huobi Technology Holdings Limited (“Huobi Tech” or the “Company“, stock code: 1611.HK) today announced that acting CEO Lin Li will resign from his position and will become a non-executive director, effective 18 December 2021. Lin Li will continue to serve as chairman of the Board, focusing on the Company's long-term strategic planning, in addition to developing its corporate governance structure. At the same time, Shupeng Wu will be appointed as Chief Executive Officer, and together with Chief Financial Officer Li Zhang, the two will be appointed as executive directors to lead Huobi Tech's future growth plans.

Shupeng Wu currently serves as Huobi Tech's Chief Security Officer. He has over 20 years of practical professional experience in the virtual assets, internet, finance and other industries. More specifically, he is well-versed in information security technology, business operations security, capital market compliance, risk management, and internal control. The Company believes that his appointment will benefit Huobi Tech's management and business expansion efforts, and bolster the Company's plans to become a leading, compliant one-stop virtual asset service platform.

Both Shupeng Wu and Li Zhang have been the mainstays of the Company throughout its development. Their appointment as executive directors will give full play to their advantages in corporate governance, business development, financial analysis, information security, corporate investments and financing, and investor relations, all of which will be conducive to the Company's future development. Meanwhile, as the first female executive to serve on the Board, Li Zhang can introduce a more diverse set of perspectives and opinions to the Company's decision-making processes, thereby improving efficiency and governance. In addition, Huobi Tech will continue to advocate for an inclusive and equal corporate culture, actively promote the appointment of more females to management positions, and drive the Company's long-term business development.

After resigning as Chief Executive Officer of the Company, Lin Li will continue to serve as Chairman of the Board to guide the Company's strategic plans and develop its corporate governance structure. At the same time,  Shupeng Wu will be appointed as Chief Executive Officer, and both Shupeng Wu and Li Zhang will be appointed as executive directors to facilitate the future growth of the Company. As a result, the Company's governance structure will become more clear. This will be conducive to improving the Company's operating efficiency and its focus on building a blockchain and virtual asset ecosystem, in line with both the Company's and shareholders' long-term interests.

Huobi Tech will continuously adhere to its businesses' diversification, compliance and professional development, with more resources to be placed on the development of a blockchain and virtual asset ecosystem. The Company will continue to develop into a leading, compliant one-stop virtual asset service platform. Looking ahead, Huobi Tech will continue its endeavors to build a compliant business in the virtual assets field, and strive to bring long-term sustainable benefits to the Group and its shareholders.