The board of directors of AviChina Industry & Technology Company Limited announced that, due to change in work arrangement, on 21 February 2023, Mr. Zhang Minsheng applied to the Board for resignation from his position as the Chairman of the Board, executive Director, chairman of the Development and Strategy Committee and chairman of the Nomination Committee of the Company with effect from the date of this announcement. The Board announced that, at the Board meeting held on 21 February 2023, the Board considered and approved the resolution in relation to the election of Mr. Yan Lingxi as the Chairman of the Board. The biographical details of Mr. Yan are set out as follows: Mr. Yan Lingxi, 52, a master degree holder and a senior engineer.

Mr. Yan graduated from Beijing University of Aeronautics and Astronautics with a bachelor degree in engineering in 1991 and with a master degree in management in 1999. He commenced his career in the aviation industry in July 1991 and worked in the reform bureau of the Ministry of Aero-Space Industry, the corporate management office of Nanjing Jincheng Machinery Factory, the corporate management department and the asset and business management department of Aviation Industry Corporation of China, respectively. He was appointed as the deputy director and the director of the corporate assets management department of AVIC II.

From June 2012 to September 2016, Mr. Yan had been a director of AVIC Avionics. From August 2014 to September 2016, Mr. Yan had been a director of AVICOPTER. From October 2016 to February 2018, Mr. Yan had successively been the head of the Office of the Board of Directors and the deputy director of Capital Management Department of AVIC, and the deputy general manager and the secretary of the board of directors of AVIC Capital.

From March 2019 to November 2021, Mr. Yan served as director of the Capital Operation Department of AVIC. From April 2004 to August 2016, Mr. Yan had been the director of the securities and legal department, the secretary of the Board and the assistant to the general manager of the Company, respectively. Mr. Yan was the standing deputy general manager of the Company from February 2018 to March 2019.

And he was the non- executive Director of the Company from May 2019 to May 2021. Mr. Yan served as the general manager of the Company from December 2021 to February 2023 and has been the executive Director of the Company since January 2022.