On December 27, 2023, the Company held its 3rd regular board meeting for 2023 in Hong Kong. The meeting was chaired by Mr. Yang He, Chairman of the Company. The main agenda of the meeting included discussions on the replacement and addition of directors, as well as the appointment of the President. Based on the Company's development needs and personal wishes, Mr. Liu Jingwei resigned from his position as an independent non-executive director, as well as from his roles as Chairman of the Audit Committee and member of the Nomination Committee. To uphold and maintain a high standard of corporate governance, fill the vacant board positions, and comply with the diversity requirements of the listing rules, the Company appointed Mr. Gao Guangfu as an independent non-executive director, Chairman of the Audit Committee, and member of the Nomination Committee. Additionally, Ms. Gong Yani was appointed as a Non-executive Director, and Mr. Yang Dayong was appointed as the President of the Company. The structure, composition, diversity of board members, and the appointment of the President will meet the requirements of the listing rules and serve the interests of the Company and its shareholders as a whole.

Directors of the Company attended the meeting in person or participated via telephone, and senior executives of the Company were also present at the meeting.