The board of directors of 7Road Holdings Limited hereby announced that Mr. Peng Cheng ("Mr. Peng") has resigned as chief executive officer of the Company with effect from March 8, 2024 due to career planning reasons. In contemplation of Mr. Peng's resignation, the Board announced that Mr. Liu Zhizhen ("Mr. Liu") has been appointed as the chief executive officer of the Company, which will take effect from March 8, 2024. Mr. Liu Zhizhen, aged 41, joined the Group in September 2019 and was mainly responsible for managing the Group's research and development ("R&D").

In September 2022, Mr. Liu was appointed as the vice president of the Company and began participating in the overall management of the Group. Before and after joining the Group, Mr. Liu's background in the R&D of games was extensive with over 20 years of experience. He has served as a game producer and R&D leader in a number of large and well-known gaming companies, has led the R&D and team management of multiple types of gaming projects and achieved excellent performance results.

From April 2005 to July 2006, Mr. Liu was a gaming project planner at Netstar Square Enix Network Technology (Beijing) Co. Ltd. From August 2006 to September 2007, Mr. Liu was the chief gaming project planner and assistant producer at Beijing Guoji Chuanshi Network Technology Co. Ltd. From November 2007 to September 2011, Mr. Liu was a producer in the gaming division of Beijing Wuzhou Zongheng Sports Development Co.

Ltd., and from September 2011 to August 2019, he was a producer of games at Giant Network Group Co. Ltd. a company listed on the Shenzhen Stock Exchange. Since September 2007, Mr. Liu has been an external lecturer at the Academy of Arts & Design of Tsinghua University in the People's Republic of China ("PRC").

In May 2022, he was appointed as an expert tutor at the Art and Technology Innovation Base of Tsinghua University in the PRC.