The board (Board) of directors of ANE (Cayman) Inc. announced that with effect from January 9, 2023, Mr. Wang Yongjun (Mr. Wang) resigned as the chairman of the Board and the executive Director, and ceased to be the authorised representative of the Company (Authorised Representative) pursuant to Rule 3.05 of the Rules (Listing Rules) Governing the Listing of Securities of The Stock Exchange of Hong Kong Limited (Stock Exchange), the chairman of the nomination committee of the Company (Nomination Committee), a member of each of the environmental, social and governance committee (ESG Committee) and the strategy committee of the Company (Strategy Committee) (collectively, the "Resignations") due to work reallocation. Following the Resignations, Mr. Wang remains in the Company and acts as a senior consultant with effect from January 9, 2023. Mr. Wang has confirmed that he has no disagreement with the Board and there is no matter relating to the Resignations that needs to be brought to the attention of the shareholders of the Company or the Stock Exchange.

The Board further announced that, following the resignation of Mr. Wang, Mr. Qin Xinghua ("Mr. Qin"), an executive Director and the chief executive officer of the Company and Mr. Chen Weihao, a non-executive Director of the Company, have been appointed as the co-chairmen of the Board with effect from January 9, 2023. The Board further announced that, Mr. Qin has been appointed as the Authorised Representative with effect from January 9, 2023. The Board further announces that, Mr. Qin has been appointed as the chairman of the Nomination Committee and a member of the ESG Committee with effect from January 9, 2023.