YanGuFang International Group Co., Ltd. announced that the Company has been informed by the family members of Mr. Kui Shi, the Chief Financial Officer (the ?CFO?) of the Company that the CFO have been detained by certain Public Safety Bureau of Shanghai, China (?Shanghai Police?), and are currently under investigation by said Shanghai Police. As of the date of this announcement, the Company has not received any official notice of the investigation against Mr. Shi or the respective reasons for their detainment. As Mr. Shi is presently unable to fulfill his respective role as CFO of the Company, the Board appointed Ms. Yang Sui, the Financial Director of Inner Mongolia YanGuFang Whole Grain Industry Development Co., Ltd. Hangzhou Branch (?YanGuFang Whole Grain Hangzhou Branch?), a branch company of one of the Company?s variable interest entities (the ?VIEs?), as Interim CFO of the Company, effective as of January 9, 2024.

Ms. Sui, having served as Financial Director of one of the VIEs? branch company since October 2022, is familiar with the financial activities of said branch and has over 18 years in finance, particularly in listed companies in China. The interim management team will manage the Company?s operations under the Board?s direction.

As of the date of this announcement, the business and the daily operations of the Company are being conducted in ordinary course and in an orderly manner.