LightInTheBox Holding Co., Ltd. announced the resignation of Mr. Zhiping Qi, Chief Executive Officer of LightInTheBox, effective immediately. Mr. Qi's resignation was one of the closing conditions for the acquisition of Ezbuy Holding Co., Ltd. (Ezbuy) announced on November 8, 2018 and was not due to any disagreement with the Company regarding its business, finances, accounting and/or any other affairs. Concurrently, and also as one of the closing conditions for the acquisition of Ezbuy, the Company's Board of Directors has appointed Mr. Jian He Chief Executive Officer and Director and Mr. Meng Lian as Director, effective immediately.

Mr. Qi will remain on the Board as a director and has been appointed as Vice Chairman of the Board. Prior to joining LightInTheBox, Mr. Jian He was the Founder and Chief Executive Officer of Ezbuy, founded in 2010. Prior to founding Ezbuy, Mr. He worked in the semiconductor industry for 9 years including at GlobalFoundries and SMIC.

Mr. Meng Lian is a partner at IDG Capital, where he has focused on internet, mobile internet, and a combination of new technology and traditional consumer products and services. Prior to joining IDG, Mr. Lian worked at New Oriental Education.