The board of directors of China Lilang Limited announced the resignation and appointments of the following Directors with effect from 5 February 2024: Mr. Wang Jun Hong ("Mr. Wang JH") has been appointed as an executive Director; Mr. Wang Zhi Yong ("Mr. Wang ZY") has been appointed as an executive Director; Dr. Lu Hong Te ("Dr. Lu") has resigned as an independent non-executive Director and member of each of the audit committee of the Company (the "Audit Committee") and the nomination committee of the Company (the "Nomination Committee"); Prof. Liao Jianwen ("Prof. Liao") has been appointed as an independent non-executive Director and member of each of the Audit Committee and Nomination Committee; and Prof. Jiang Zhan ("Prof. Jiang") has been appointed as an independent non-executive Director and member of each of the Audit Committee and Nomination Committee. Mr. Wang JH, aged 37, has over 14 years of experience in fashion and design. Since April 2012, Mr. Wang JH has served various positions within the Group.

Mr. Wang JH is currently serving as the general manager of Lilang (China) Co. Ltd. ("Lilang China"), where he is responsible for brand management and product development, as well as vice president of the design department of Lilang (Hong Kong) International Co. Ltd. Mr. Wang ZY, aged 38, has over 14 years of experience in fashion sales and marketing.

Since June 2009, Mr. Wang ZY has served various positions within the Group, and from March 2018 to November 2019, Mr. Wang ZY was promoted to deputy director of Lilang China, where he was responsible for the management of new retail development in Fujian; from December 2019 to February 2022, he was promoted to general manager of Lilang China's online retail center, where he was responsible for the development and management of online retail for the Group's smart casual collection "LESS IS MORE". He is currently serving as the sales channel director of Lilang China's marketing center. Prof. Liao, aged 56, has extensive research and practical experience in strategic innovation management across both academia and industries.

Currently, Prof. Liao holds positions of Executive Fellow of Harvard Business School and Senior Advisor to the chairman of JD.com Inc. (NASDAQ: JD; and HKEx: 9618 (HKD counter) and 89618 (RMB counter)). Since 2012, Prof. Liao served as the Associate Dean of Cheung Kong Graduate School of Business until Prof. Jiang, aged 47, is currently a professor at the Shanghai Advanced Institute of Finance of the Shanghai Jiao Tong University (). Recognised for her research and expertise in corporate finance, valuation, fintech and supply chain finance, she has over 17 years' experience in teaching and academic research.

She is a frequent contributor of leading academic journals and a recurring guest speaker. Dr. Lu, due to his personal affairs and other business commitments, has tendered his resignation as an independent non-executive Director and member of each of the Audit Committee and Nomination Committee with effect from 5 February 2024.