ANTA Sports Products Limited announced that, to align the Group's management structure with its strategic directions and to enhance the Group's corporate governance, the following changes in the Executive Directors' management responsibilities shall take effect from 1 February 2023: Mr. Ding Shizhong will retire from the role as the CEO and will remain as the Chairman. He will continue to play a core leadership role in the Group's corporate strategy, talent build-up, corporate culture and operational supervision, and will directly oversee the Group's internal audit and supervision functions as well as mergers and acquisitions initiatives. Mr. Ding Shijia will continue to oversee the Group's manufacturing operation, and will cease to oversee the Group's supply chain management.

Mr. Zheng Jie will remain as an Executive Director and will retire from the roles as Group President and the chief executive officer of the Outdoor Sports Group. He will continue with his role as the chief executive officer of Amer Sports and be primarily responsible for Amer Sports related business. Mr. Lai Shixian will be appointed as the Co-CEO, and will retire from the role as the CFO.

He will be in charge of ANTA brand, all other brands except FILA brand, group procurement and a number of the Group's functions including human resources, legal, investor relations and administration. Mr. Wu Yonghua will be appointed as the Co-CEO, and will retire from the role as the chief executive officer of the Performance Sports Group. He will be in charge of FILA brand, the Group's international businesses and a number of the Group's functions including retail channel management and public relations.

Mr. Bi Mingwei will be appointed as the CFO. He will be primarily responsible for the Group's financial management functions and a number of middle-and-back-office functions including business process management and logistics management. REASON FOR AND BENEFIT OF THE ABOVE CHANGES: The Board believes that the above changes will facilitate the implementation of the Group's ‘multi- brand' and ‘globalisation' strategies; enhance the Group's corporate governance by performing the roles of Chairman and CEO through separate management personnel; andenhance management efficiency and the Group's talent development.

The above changes will improve the Group's corporate governance structure, and is in line with the governance models of large-scale international enterprises and the code provision C.2.1 of the CG Code. Other than the changes set out above, the composition of the Board and the designations of each respective Executive Director and independent non-executive Director will remain unchanged. BIOGRAPHIES OF EXECUTIVE DIRECTORS The biographical details of the above Executive Directors are set out as follows: Mr. Ding Shizhong, aged 52, is an Executive Director.

He is the co-founder of the Group and has dedicated to expanding and promoting the Group's business and to developing China's sporting goods industry. In 2014 and 2018, he was awarded the title of Outstanding Contributor to the Building of Socialism with Chinese Characteristics, 2014 Chinese Business Leaders Annual Award, Top 40 Most Influential Entrepreneurs of Fujian in 40 years of the Chinese Economic Reform and 2018 China Top Ten Economic Person of the Year. He is currently a vice chairman of All-China Federation of Industry and Commerce, a vice chairman of China Sporting Goods Federation, a vice president of Samaranch Foundation, an advisor of the Chinese Basketball Association and a member of the Chinese Olympic Committee.

Mr. Ding is the younger brother of Mr. Ding Shijia and the brother-in-law of Mr. Lai Shixian, both being Executive Directors. He is also a director of Anta International, a substantial shareholder of the Company. Mr. Ding Shijia, aged 58, is an Executive Director.

He is the co-founder of the Group and has over 30 years of experience in the sporting goods industry in China. In 2002 and 2004, he was awarded the title of Eminent Young Entrepreneur of Quanzhou. Mr. Ding is the elder brother of Mr. Ding Shizhong and the brother-in-law of Mr. Lai Shixian, both being Executive Directors.

He is also a director of Anta International, a substantial shareholder of the Company. Mr. Zheng Jie, aged 54, is an Executive Director. He joined the Group in October 2008 and has over 20 years of experience in the field of marketing management, including over 8 years in the China division of an international sportswear brand as the sales vice president and the general manager.

Mr. Zheng holds a bachelor's degree in management science from Fudan University in Shanghai. He is the co-chairman of the World Federation of The Sporting Goods Industry (WFSGI). Mr. Lai Shixian, aged 48, is an Executive Director.

He joined the Group in March 2003 and has over 20 years of experience in administrative and financial management. Mr. Lai holds an EMBA degree from China Europe International Business School. He is currently a vice president of Fujian Federation of Industry and Commerce (General Chamber of Commerce) and a vice chairman of Quanzhou City of Industry and Commerce (General Chamber of Commerce).

Mr. Lai is the brother-in law of Mr. Ding Shizhong and Mr. Ding Shijia, both being Executive Directors. He is also a director of Anta International, a substantial shareholder of the Company. Mr. Lai is an independent non-executive director of China Lilang Limited (stock code: 1234), a company listed on the Stock Exchange.

Mr. Wu Yonghua, aged 52, is an Executive Director. He joined the Group in October 2003 and has over 20 years of experience in sales and marketing in China. Mr. Bi Mingwei, aged 50, is an Executive Director.

He joined the Group in May 2007 and has over 20 years of experience in financial management and the sportswear industry. Mr. Bi holds a bachelor's degree of accounting from the University of International Business and Economics in China. He is a non-practicing member of the Chinese Institute of Certified Public Accountants.